Northern Hung Yen province’s master plan in the 2021-2030 period with a vision to 2050 was announced on July 7 at a ceremony attended by Prime Minister Pham Minh Chinh, according to a report from the Vietnam News Agency.

Addressing the event, the Prime Minister highly valued the master plan, built with a breakthrough mindset and long-term vision, promoting the locality's advantages, and showing the province's desire for growth and optimizing the value of the ancient Pho Hien culture, making a new miracle in the new period.

Pointing to strengths and limitations of the province, the Government leader affirmed that there is plenty of room for Hung Yen to further thrive.

He asked the locality to focus on mobilizing and effectively using resources to promote traditional growth drivers and create new ones, while strengthening the development of the strategic infrastructure system and boosting the growth of industries supporting the manufacturing-processing industry and the supply and production chain.

The PM sketched out eight major tasks and solutions for Hung Yen, including strongly improving the local business and investment environment, simplifying administrative procedures, and optimizing resources for infrastructure development.

Hung Yen should promote innovation, digital transformation and startups, and speed up the transformation of its economic structure and growth model towards higher productivity and competitiveness, the Prime Minister said.

The PM requested relevant ministries and agencies to support Hung Yen by responding to its requests and proposals in a timely and effective manner.

Lauding investors to choose Hung Yen as their destination, the PM said he hopes they will operate sustainably in the province and make more contributions to the local growth following the spirit of “harmonized interest, shared risks”.

The master plan was approved by the Prime Minister in June, with a comprehensive objective of turning Hung Yen into a modern industrial province with fast and sustainable development, entering the group of top localities nationwide in terms of economic scale and growth level.

Specifically, the province's GRDP is expected to expand 9% per year, with a per capita GRDP reaching VND287 million ($11,291) by 2030.

Total social investment in the 2021-2030 period is hoped to hit about VND700 trillion (more than $27.3 billion), while its export revenue is expected to reach $12-13 billion each year by 2030, with a growth rate of 8.5-9% annually in the 2021-2030 period, according to the master plan.

Under the master plan, Hung Yen aims to become a centrally-run city by 2050.

On the occasion, Hung Yen granted investment licenses and policy approval decisions for 24 projects with a combined capital of over $1.15 billion to domestic and foreign investors.