Hung Yen s regional GDP beats expectations

Hung Yen's regional GDP experienced a significant surge, surpassing expectations, during the first nine months of 2026, growing at an estimated 12.01 percent. This growth places Hung Yen seventh among 34 provinces and centrally-run cities in terms of nine-month regional expansion. The province's regional GDP, at current prices, was estimated at $10.36 billion.

Industry and construction contributed significantly to the economic structure, accounting for approximately 55.6 percent of the economy, with industry alone contributing nearly 45.2 percent. Services represented 26.8 percent, while agriculture, forestry, and fisheries accounted for 11.7 percent.

Industrial production in Hung Yen continued to record strong growth, with the Index of Industrial Production (IIP) increasing 15.7 percent year-on-year in the first nine months. The growth was driven by manufacturing and processing (16.3%), electricity production and distribution (8.9%), and water supply, waste, and wastewater management and treatment (16.08%).

Several industries recorded impressive growth rates, including machinery and equipment manufacturing (99.36%), repair, maintenance, and installation of machinery and equipment (75.7%), and pharmaceutical, medicinal chemical, and botanical product manufacturing (38.9%).

Construction activity also expanded, with construction production value estimated at $3.08 billion, reflecting a 14.2 percent increase year-on-year. The services sector grew by 9.14 percent. Retail sales of goods and consumer service revenue reached $8.9 billion, rising by 17.5 percent, while retail sales of goods increased by nearly 18.7 percent.

Total realised investment capital increased to $4.7 billion, representing a 14.3 percent year-on-year growth. Industrial production remains a key driver of economic growth in Hung Yen.

The Hung Yen Statistics Office reported that total investment realised in the province during the first nine months was $4.7 billion, up 14.3 percent year-on-year. The state sector investment was $1.3 billion, up 17.8 percent, while non-state sector investment reached $2.76 billion, also up 17.9 percent. Foreign direct investment (FDI) amounted to $632 million.

In September, Hung Yen initiated several projects to bolster industrial and infrastructure development, including the groundbreaking of seven industrial parks, industrial clusters, and transport projects. These projects aim to increase the province's industrial land supply and transport infrastructure, as well as enhance connectivity between areas.

The province's business community also expanded, with 4,030 newly registered enterprises established between December 22, 2025, and September 21, 2026, with a total registered capital of $1.78 billion. The manufacturing and processing sector alone saw 785 new enterprises, with registered capital of $337.4 million.

At the September regular meeting on October 7, Hung Yen's People's Committee Chairman Nguyen Manh Quyen emphasized the importance of maintaining production growth, addressing business difficulties, accelerating public investment disbursement, land clearance, and the progress of key projects. The province aims to achieve a regional GDP growth target of 11.5 percent or higher for 2026.