Hung Yen (VNA) – A groundbreaking ceremony was held on May 21 in Hoa Ma hamlet, Tan Chau commune, Khoai Chau district, the northern province of Hung Yen, for the Khoai Chau Urban Complex, Ecotourism, and Golf Course project, one of the province’s largest foreign-invested developments.
The project is being developed by a consortium of Hung Yen Investment and Development Group JSC and IDG Capital, which represents the Trump Organisation.
According to the Khoai Chau district People’s Committee, the project spans seven communes, including Tu Dan, Tan Chau, Dong Ket, Dong Ninh, Dai Tap, Lien Khe, and Chi Minh, with a total area of 990.43 ha.
The development is designed as a modern, integrated complex featuring urban living, resort amenities, eco-tourism, sports facilities, and a world-class international-standard golf course. With harmonious technical and social infrastructure, the project aims to unlock the area's potential, improve land use efficiency, raise local living standards, and support the Red River tourism route connecting Hung Yen with Hanoi and surrounding provinces. It is also expected to boost tourism, generate employment, and contribute to local budget revenues.
Pham Xuan Thang, Chairman of the Khoai Chau district People’s Committee, welcomed the project’s early launch and reaffirmed the district’s strong commitment to its implementation. He noted that local authorities had made significant efforts in land clearance and community engagement, accelerating project preparation.
As per Decision No. 942/QD-TTg issued by the Prime Minister on May 15, the project is valued at approximately 39.79 trillion VND (equivalent to 1.53 billion USD), including 4.09 trillion VND for compensation, support, and resettlement, and around 35.7 trillion VND for construction and development. Implementation is scheduled from Q2 2025 to Q2 2029. The project will consist of four functional zones: a commercial-service urban area, residential zones, green spaces, and a 54-hole golf course covering 241.59 ha.
In 2024, the province People's Committee signed a memorandum of understanding on project research and development with the US-based Horatius Group, IDG Capital, and Hung Yen Investment and Development Group JSC. Following the signing, all parties have worked closely to expedite preparations for the groundbreaking.
Deputy Director of the Hung Yen Department of Finance Vu Ngoc Bao highlighted the province’s efforts to accelerate investment licensing. He said provincial agencies acted swiftly and in coordination to complete the necessary procedures. Ministries also approved relevant documents in a timely manner, reflecting strong institutional support and a pro-investment administrative environment.
Bao pointed to Hung Yen’s recent performance in the Provincial Competitiveness Index (PCI) as further evidence of its reform efforts. In the 2024 PCI rankings released by the Vietnam Chamber of Commerce and Industry (VCCI), Hung Yen made its debut in the top 10 among the 63 provinces and cities, with a score of 70.18, up from the 12th place in 2023 and the 14th in 2022.
This progress, Bao stressed, was the result of coordinated efforts across the provincial political system to improve the local investment environment. He cited the province’s expedited business registration process, reduced from 2–3 days to same-day processing, as an example of improved efficiency. Currently, 90% of business registrations are submitted online, underscoring Hung Yen’s drive for transparency and fair competition across all economic sectors.
In 2024, the province attracted 68 new foreign direct investment (FDI) projects with total registered capital of nearly 1.4 billion USD, according to the provincial Statistics Office.
By the end of last year, it was home to 613 FDI projects with combined registered capital of nearly 8.5 billion USD.
Countries with the largest numbers of projects and amounts of investment include Japan, with 178 projects and registered capital of over 3.8 billion USD, accounting for nearly 46%; the Republic of Korea with 159 projects and over 1.4 billion USD; and China, with 173 projects and over 1.3 billion USD.
In 2025, the province aims for an economic growth target of 8%; an industrial production index growth of 10%; industrial and construction production up by 11%; trade and service industry up by 3%; agriculture and aquaculture production up 5.5%; and export turnover of 8.5 billion USD./.
