Industrial Growth in Hải Dương: Opportunities and Developments
Overview of Industrial Investments
Hải Dương Province is emerging as a significant player in Vietnam’s industrial landscape. In the first quarter of this year alone, the province’s industrial parks attracted investments totaling approximately $419 million. This figure is made up of $125 million in foreign direct investment (FDI) and over VNĐ6.9 trillion (approximately $270 million) in domestic direct investment (DDI). The Hải Dương Industrial Zones Authority reported these impressive numbers, highlighting the region’s growing importance as an industrial hub.
The Landscape of Industrial Parks
Hải Dương currently hosts a total of 18 industrial park infrastructure projects. Among these, there are two FDI initiatives with a collective registered capital of around $74 million, alongside 16 DDI projects totaling over VNĐ23.6 trillion. This robust framework supports a flourishing environment for both local and international investors.
The province is home to 432 secondary investment projects, which include 334 FDI projects from 23 countries, amounting to approximately $6.7 billion in registered capital, and 98 DDI projects valued at over VNĐ22.7 trillion. This diverse investment portfolio illustrates the region’s attractiveness, bolstered by its strategic location and infrastructure.
Targeted Investment Goals
To bolster its industrial growth, Hải Dương has set ambitious targets, aiming to attract at least $1 billion in FDI and more than VNĐ8.5 trillion in DDI. Key players in the region have outlined specific strategies to achieve these objectives. For example, Đại An Industrial Zone Infrastructure Development Co Ltd is targeting $500 million in FDI and VNĐ1.7 trillion in DDI. Similarly, Đại Dương Co Ltd aims for $150 million in FDI for Lai Cách Industrial Park.
These targeted investments are not only aimed at expanding existing infrastructure but also enhancing the overall industrial capabilities of the province.
Administrative Reforms for Business Support
A significant driver behind the influx of investment in Hải Dương is the province’s commitment to improving the business climate through administrative reforms. Lê Trung Kiên, the head of the Hải Dương Industrial Zones Authority, indicated that the authority has been proactive in streamlining processes and providing legal support for businesses.
One of the notable reforms includes reducing the processing time for new investment registration certificates to just eight days—a significant improvement compared to previous standards. The time taken for construction and renovation permits has also been reduced, reflecting a broader commitment to improving efficiency for investors.
Master Planning for Future Growth
Looking forward, Hải Dương Province is shaping its industrial future with the 2021-30 Master Plan, which envisions significant developments through to 2050. This strategic roadmap includes approval for 32 industrial parks, covering a total area of around 5,661 hectares. To date, 18 parks have been established, occupying over 2,973 hectares, with an occupancy rate exceeding 58%.
This master plan also anticipates the development of a specialized economic zone that will serve as a key engine for economic growth in Hải Dương, particularly post-2025. The province’s foresight in planning underscores its ambition to transform into a dynamic economic center.
The Commitment to Sustainable Development
Hải Dương is not just focusing on quantitative growth; it is also aligning its industrial development with sustainable practices. A standout example is the Hyundai Kefico Vietnam Co. Ltd, which is manufacturing smart and environmentally-friendly sensor products in the Đại An II Industrial Park. Such initiatives illustrate how industrial growth can harmonize with environmental stewardship, setting a benchmark for future projects.
Conclusion: A Bright Horizon
As Hải Dương continues to attract investment and refine its industrial landscape, the future looks promising. The province’s proactive governance, supportive infrastructure, and commitment to sustainability are poised to make it a beacon of growth in Vietnam’s industrial sector. The blend of FDI and DDI gives it a unique advantage in harnessing both international expertise and local innovation to propel its economic ambitions forward.