Measures to help the northern port city of Hai Phong to attract foreign direct investment (FDI) in 2018 were discussed during a recent meeting of the municipal People’s Council .
At Bridgestone Corporation's tire manufacturing plant (Source: VNA)
Hai Phong (VNA) – Measures to help the northern port city of Hai Phong to attractforeign direct investment (FDI) in 2018 were discussed during a recent meetingof the municipal People’s Council .
According to Secretary of the municipal Party Committee Le Van Thanh, apartfrom promoting administrative reform and improving Hai Phong’s investmentclimate, the city will also focus on upgrading and developing infrastructure facilities.
He said priority willbe given to investment promotion, high-quality human resources training,project management and supervision, towards attracting more foreign investors,especially multi-national economic groups from Japan, the Republic of Korea andBelgium.
Land clearance will be a focus for the city in 2018, especially in industrialparks (IPs), making it easier for foreign investors to run their projects inthe city, he added.
The meeting heard that Hai Phong didn’t complete its goal of attracting 2.4billion USD of FDI in 2017.
The shortage of land funds, the limited scale of IPs and slow land clearance wereblamed for the failure.
FDI projects in Hai Phong mostly operate in mining, footwear, textiles and theplastic industry.
Hai Phong has welcomed many industrial manufacturing projects from Japanese investorssuch as a tire manufacturing plant worth 574.8 million USD invested byBridgestone Corporation and a 250-million-USD pharmacy factory of Nipro PharmaCorporation.
It is also an attractive destination for foreign firms in logistics and realestate.
The city hopes to attract 1.2 billion USD in FDI in 2018, half of 2017’s target.-VNA
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At Bridgestone Corporation's tire manufacturing plant (Source: VNA) 
