Economic Zone Established in Thái Bình Becomes a Key Pillar of Red River Delta Growth
Established in 2017, the Thái Bình Economic Zone, now a fundamental pillar of the Red River Delta economy, encompasses over 30,500 hectares of land across two districts of what was the former Thái Bình province before the recent merger.
This massive economic zone is meticulously planned to incorporate 22 distinct industrial parks, spanning a total area of 8,020 hectares.
Beyond manufacturing, the zone is designed as a fully integrated hub, encompassing a dedicated seaport, a vital power generation center, tourism and resort areas, essential aquaculture and coastal protection forests, as well as modern residential and urban zones alongside necessary administrative centers.
Currently, five major industrial parks—Liên Hà Thái, Tiền Hải, Hải Long, VSIP Thái Bình, and Hưng Phú—are either fully operational or actively under development, achieving an already healthy average occupancy rate of 46 percent.
Liên Hà Thái Industrial Park, covering nearly 590 hectares and developed by Green i-Park Joint Stock Company, stands out as the flagship project, specifically engineered to catalyze significant investment and firmly establish the economic zone as the provincial growth engine.
Mai Đăng Khoa, Director of the Site Clearance Department at Green i-Park Joint Stock Company, reported remarkable progress, noting that thanks to close collaboration with local authorities, Liên Hà Thái Industrial Park has completed site clearance on over 587 hectares, reaching an impressive completion rate of more than 99 percent.
Flagship Industrial Parks Attract Significant Foreign Investment
The success of the flagship industrial parks within the Thái Bình Economic Zone, particularly Liên Hà Thái, is demonstrated by the rapid attraction of substantial foreign direct investment (FDI), signaling strong investor confidence in the area’s potential.
Đặng Thị Hiệp, Sales Director of Green i-Park Joint Stock Company, provided key figures, stating that by August 2025, the Liên Hà Thái Industrial Park had successfully attracted 44 investors.
Crucially, this included 40 foreign direct investment (FDI) projects, with the combined total registered capital now approaching US$1.6 billion.
The park’s occupancy rate is already close to 52 percent, a rapid uptake that confirms its status as a major investment destination.
To date, nine industrial projects have been completed and commenced full operations, while an additional five projects are progressing rapidly and are expected to become operational shortly, ensuring a continuous stream of economic activity.
Since its launch in 2021, Liên Hà Thái Industrial Park has generated substantial industrial output and created thousands of jobs for both local residents and migrant workers.
This influx of employment is fueling new service sectors and significantly accelerating the essential shift from purely agricultural employment to higher-value industry, cottage industry, trade, and services.
Similarly, the VSIP Thái Bình Industrial Park, spanning 333.4 hectares in what is now Đông Thụy Anh commune of the new Hưng Yên Province, remains a strategic pillar.
Developed with a total investment of approximately $212 million by the Việt Nam-Singapore Urban and Industrial Development JSC, this park reinforces the diversity and capacity of the consolidated economic structure.
Post-Merger Strategy and Accelerated Investment for Hưng Yên
Following the administrative merger in July 2025, the newly expanded Hưng Yên Province is strategically fast-tracking investment plans within the Thái Bình Economic Zone, aiming for ambitious long-term growth and a transparent, high-tech investment climate.
The merger of the former Hưng Yên and Thái Bình provinces in July 2025 created the new Hưng Yên Province, which now spans over 2,500 square kilometers and boasts a population exceeding three million, giving it increased scale and administrative capacity.
The Hưng Yên Department of Finance reports that, post-merger, the provincial administration has rapidly fast-tracked the zoning plans for 13 functional areas covering 8,300 hectares within the economic zone.
These areas are designed to incorporate a wide range of economic drivers, including tourism, resorts, golf courses, high-tech aquaculture, and other strategic industries.
Approving approximately 30 detailed plans for various investment projects has also accelerated the development pipeline.
Ongoing planning efforts are focused on key areas such as Thái Đô 1 Industrial Park, the expanded Tiền Hải Industrial Park, Thụy Lương Industrial Park, and the Cồn Vành ecological urban resort.
Targeting a robust 10.5 percent economic growth in 2025, Chairman of the Hưng Yên Provincial People’s Committee, Nguyễn Khắc Thận, has issued strong directives to government bodies at all levels.
He urged them to proactively remove bureaucratic and logistical obstacles for businesses, accelerate crucial project implementation, and ensure the timely operation of ongoing and delayed projects.
This decisive action aims to fully unlock the economic potential of the Thái Bình region and prevent financial losses.
He also called for the immediate creation of a transparent, stable investment climate to attract long-term, quality investors, prioritizing high-tech industries, innovation, green and digital transformation, advanced processing and manufacturing, high-tech agriculture, logistics infrastructure, and housing developments, including essential social housing.
In the immediate term, the province is highly focused on expediting land clearance for major public investment projects, aiming for the full disbursement of public investment funds in line with planned capital allocations.
