The Nam Dinh Provincial People’s Committee has approved detailed planning for the Hong Tien Industrial Park in Y Yen district’s Yen Tien commune.

On an area of 113.89 hectares, the IP mainly accommodates manufacturing and the assembly of electronic goods, computers, and optical products, which account for over 60 per cent of industrial production at the IP. Five hectares will be set aside for small and medium-sized enterprises (SMEs), enterprises in supporting industries, innovative enterprises, and those eligible for investment incentives.

Upon completion, the IP is expected to create jobs for 10,000 people.

The planning aims to attract investments to high-tech and environmentally-friendly areas, generate jobs and increase the incomes of workers, and promote local socioeconomic development.

Nam Dinh has focused on developing infrastructure for industrial parks to attract domestic and foreign investors, which is also a strategic economic development orientation of the locality.

According to the Management Board of IPs in Nam Dinh province, IPs attracted average capital inflows of $220 million in 2022. The province has nine IPs with a total area of more than 2,000 hectares, of which four are operational.