Hai Phong works to maintain top position in FDI attraction
The northern port city of Hai Phong is working to continue to improve its business and investment environment to attract large investors and maintain its leading position in investment attraction.
At a ceremony to grant investment licence to LG Display in Hai Phong (Photo: VNA)
Hai Phong (VNA) – The northern port city of Hai Phong is working to continue to improve its business and investment environment to attract large investors and maintain its leading position in investment attraction.
According to the Ministry of Planning and Investment, in 2021, Hai Phong drew over 5.1 billion USD in foreign direct investment (FDI), the highest among localities nationwide, up nearly 3.4 times compared to that in the same period last year.
Commenting on the business and investment environment of Hai Phong, Wu Yu Gan, Deputy General Director of Flat Vietnam, said that his firm has received effective and practical support from authorities of Hai Phong, a promising investment destination.
Le Trung Kien, head of the Hai Phong Economic Zone Management Board said that the bright spot in FDI attraction of Hai Phong is the success in luring big investors with high technologies, including LG. By the end of 2021, local industrial parks attracted 420 FDI projects worth nearly 19.1 billion USD.
In 2022, the city aims to lure 2.5-3 billion USD. Right in January, the board accepted a 35-million USD project from a Chinese investor.
At a recent confrrence to implement the Resolution on socio-economic, defence, security tasks of the city in 2022, Secretary of the municipal Party Committee Tran Luu Quang held that the city will face challenges in FDI attraction in the time to come.
In order to continue maintaining its FDI results, the city should roll out measures to attract human resources to work in IPs, he said, adding that in the 2021-2026 period, the city needs about 200,000 labourers from other localities.
Along with giving support to workers in health care services and housing, the city will speed up administrative reform to make it easier for investors during their investment process, while focusing on human resources training, he added./.
The Management Board of Hai Phong Economic Zones on September 27 handed over an investment certificate on a project building terminals 5 and 6 in Hai Phong Port’s Lach Huyen port area to HATECO Group JSC.
The Hai Phong Economic Zone Authority (HEZA) on December 7 granted an investment registration certificate for the Lach Huyen free trade zone, the first of its kind in the northern port city.
Prime Minister Pham Minh Chinh asked the northern port city of Hai Phong to work harder to become the centre for regional connectivity given its favourable location and situation.
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Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
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A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
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At a ceremony to grant investment licence to LG Display in Hai Phong (Photo: VNA) 
