Located in the center of the Red River Delta, once an important trade urban area of the country in the 15th century, with an area of 923 km2, today, Hung Yen is ideal for business investment, attracts strong investment sources, and is where every effort always reap success.  With favorable geographical location, synchronous infrastructure, officially trained young labor force, and attractive investment policy, Hung Yen is a real sweet land with 350 licensed investment projects with total registered capital of approximately USD 2 billion over the past 10 years. Hung Yen determines that the investment source is an important motivation for its social and economic development strategy. Hung Yen has welcomed investors for the shared targets 1. Favorable geographical location • Situated in the center of the Red River Delta, in key economic zone of North Viet Nam, in Ha Noi- Hai Phong- Quang Ninh Economic Triangle, and in the route linking West-South Economic Corridor of the North Viet Nam Delta.  • Bordering with Ha Noi City and the Provinces of Bac Ninh, Ha Tay, Thai Binh, and Hai Duong. • A traffic system of road, waterway and airway ensures the connection between Hung Yen and other provinces of the whole country. • 64 km from Ha Noi • 90 km from Noi Bai International Airport • 90 km from Hai Phong International Seaport, and 100 km from Cai Lan Seaport (Quang Ninh) to the East 2. Attractive investment policy The Provincial People’s Committee of Hung Yen has created maximum favorable conditions in accordance with the current regulations of the Socialist Republic of Vietnam. The Provincial People’s Committee of Hung Yen specially encourages investment projects on modern technologies, export goods production and manufacture, local agricultural product rearing, planting and processing, and ones that create jobs for on-site labor force, etc 3. Advantageous labor force With rich labor force and high proportion of trained labors, Hung Yen can provide unskilled and skilled workers for big investment projects.  In the Province, there are 10 training and educational institutions such as Hung Yen University of Technical Education, College of Finance and Accounting, College of Business Administration, etc, who have trained approximately 15,000 engineers and workers of various occupations every year. In the future, Hung Yen Town will be planed to become a North University Urban Area that can provide great numbers of highly intellectual laborers 4. Synchronously Developed Infrastructure Hung Yen is highly evaluated for its infrastructure development policies for industry and agriculture. The infrastructure is built with closely interactive and associate model. The complex of hospital, school, post and telecommunication, etc, is properly built ensuring sufficient services for people, labors and foreign experts.   The 220KV and 110KV electrical system and gas supplying system ensure energy sources for Industrial Zones and Urban Areas. Along with the planning of key industrial zones, Hung Yen Province has also made plans for new urban area development such as: Van Giang Trade and Tourism Urban Area, 500ha - South Highway 5 New Urban Area in Pho Noi New Urban Area, 377ha - North Highway 5 New Urban Area in Pho Noi New Urban Area, 831ha - Van Giang Service Complex, 180 ha - Hung Yen Town University Urban Area, 1000 ha In the Province, the construction of the complexes of office, hotel, apartment for lease is developing strongly and rapidly such as Son Nam Plaza in Hung Yen Town and projects in the New Urban Areas 5. Rich human resources As a delta province situated near the important social, political and economic centers of the country, Hung Yen has advantages of skilled and unskilled labor forces. This is the most completive advantage helping Hung Yen satisfy all needs of human resources of domestic and foreign investors. An overview of labor force (*) Total population:    1.12 million Number of laborers:    0.57 million Trained laborers:                                      0.14 million Major training level:                           University, college, skilled worker Annual supplementary number of labor: 20,000 Labor structure in the economic industries (*) Industry, Construction:  10.7% Agriculture, Forestry, Aquaculture: 78.9% Services:               10.4% Average salary: approximately 750,000 VND /a month 6. Reasonable land lease cost * In the Industrial Zones:  Land lease price: 25-27 USD/m2/50 years (depending on position and area of the land plot, one-time payment).  Cost of infrastructure using service: 0.25 USD/m2/a year (annual payment). * Outside the Industrial Zones:  The landfill compensating price, paid one-time for the people who are using the land, ranges from 3.5 to 4.0 USD/m2/50 years (the landfill compensating cost levels are based on the regulations in the guideline of the Ministry of Finance and the Decision of the Provincial People’s Committee of Hung Yen). This cost will be gradually taken from the annual land lease payment of the investment project.  Land lease price: approximately 0.15-0.22 USD/m2/a year.  Landfill cost: 1.86 – 2.2 USD/m3 7. Post and telecommunication system Being built with top priority, the post and telecommunication system, and ADSL Internet of Hung Yen Province ensure good services for overall development of all investors. All the big post and telecommunication, and information technology providers such as Viet Nam Post and Telecommunication (VNPT), Military Telecommunication Corporation (Viettel), EVN Telecommunication Corporation (EVN) are supplying their services in the Province. Costs of installment and use of post and telecommunication, and information services are based on regulations of the service providers.  Domestic call: inside the province VND 500/a minute; interprovincial VND 1000 /a minute  International call: USD 0.486 /a minute  ADSL: VND 900,000 / a month 8. Water supply system Surrounded by Red River and Luoc River, Hung Yen has rich water sources of both underground and surface, being capable of supplying millions of m3 water a day. This can ensure the need of Urban Areas and Industrial Zones in the Province, and neighboring areas. Price of water supply follows the common regulation with VND 3500 a m3. 9. Power supply systems With a 220/110 KV transformer station in Pho Noi, 3 110KV transformer stations in Pho Cao, Toan Thang and Van Lam, the electrical system is synchronously built to fences of plants. Power supply contracts are signed between investors and Hung Yen Electrical Power with prices regulated by the State of the Socialist Republic of Vietnam.  Normal hour (from 4:00 to 18:00): VND 895 / Kwh  Off-peak hour (from 22:00 to 4:00): VND 505 / Kwh  Peak hour (from 18:00 to 22:00): VND 1775 / Kwh 10. Investment preferential policies The Provincial People’s Committee of Hung Yen specially encourages investment projects to such areas as:  New material and energy production, high technology production, biotechnology, information technology, mechanical manufacturing.  Projects of high technology, modern techniques, environment protection, and can make other industries to develop.  Projects of large scale, fast deploying progress, and big contribution to budget.  Projects to rear, plant and process agricultural products using the local materials. Projects of new crop plant seeds and domestic animals.  Projects that use many on-site labors especially in the South Districts. Details of the investment preferential policies  Land policy: Hung Yen Province creates favorable conditions for enterprises that want to rent land for production space. Land lease procedures are shortened, simplified, and implemented according to laws. Along with Industrial Zone Management Boards, the focal points to receive and manage investment projects in the Industrial Zones, the Department of Planning and Investment of Hung Yen Province is the focal point helping the Provincial People’s Committee receive investment projects outside the Industrial Zones. It also collaborates with other Departments such as Department of Construction and other Departments that govern economy, science and technology in project appraisals.  Science, technology, and training supporting policy: The Province of Hung Yen encourages every economic sector to invest in vocational training projects, creates favorable conditions of space and credit for establishment of vocational training institutions and centers.  Trade promotion and information supporting policy: Publicize every information about social and economic development plan of the Province, information about policy and laws.  Administrative procedure improvement: The Department of Planning and Investment is the only agency to receive domestic and foreign investment projects. Hung Yen Province is trying to shorten the duration of time for investment appraisal and licensing, guide localities to well implement land clearance, guide functional agencies to create maximum favorable conditions such as publicity of procedures, and duration of time for business registration granting, tax code registration, seal carving, and bank account opening, etc.  Financial and credit policy: The Province of Hung Yen commits to implement the equal policy on finance and credit with every economic entities. The investment projects on the areas the State encourages are considered by the Development Supporting Fund to have favorable credit or after- investment interest support 11. Network of Industrial Zones The available development program: To push the investment process and create favorable conditions for distribution of projects, Hung Yen Province has planned 5 centralized Industrial Zones of which 2 have had Establishment Decisions, and 10 industrial clusters and trade villages. Currently, the Province has the following Industrial Zones: a. Pho Noi A Industrial Zone: area 390 ha. This Industrial Zone has been approved, and its technical infrastructure is being built to become a synchronous Industrial Zone. The top priorities go to mechanics, electronic and refrigeration production and assembling, equipment and machine production for national industries. Hoa Phat Infrastructure Construction Company is assigned as an contractor for the construction of the infrastructure. 110 ha has been granted for investment projects. b. Pho Noi B Industrial Zone: area 95 ha. Situated in Highway 5A and Highway 39A and owned by Vietnam Garment and Textile Corporation (Vinatex). This Industrial Zone is mainly for garment, textile, leather footwear industries. Currently, 25 ha of the Industrial Zone has been built with favorable power and water supplies.  c. Thang Long II Industrial Zone: area 220 ha  Situated in the South of Highway 5A and the West of Highway 39A. This is a 100% foreign invested Industrial Zone owned by Sumitomo Group (Japanese).  d. Minh Duc Industrial Zone: : Area: 198 ha. Situated in Highway 5A, owned by VNT Infrastructure Investment and Development Jointstock Company. Currently, there are 15 investment projects renting 25 ha. In the future, the Province will build the following Industrial Zones: a. Vinh Khuc Industrial Zone: Planned area: 200 ha. Situated 2 km far from Van Giang Urban Area (are being built), in the planned Highway 5 to the West (built in the period 2006-2010). The Ring Road 4 passes the North of the Zone. b.Hung Yen Town Industrial Zone: Planned area: 60 ha. Share border with Hung Yen Town, a future University Urban Area.