Business community contributes to Hai Phong’s development

The business community in Hai Phong has made great contributions to the northern port city’s development, said Chairman of the municipal People’s Committee Nguyen Van Tung.
Business community contributes to Hai Phong’s development ảnh 1Automaker Vinfast is among the largest tax payers in Hai Phong city. (Photo: coches.net)

Hai Phong (VNA) – The business community in Hai Phong has madegreat contributions to the northern port city’s development, said Chairman ofthe municipal People’s Committee Nguyen Van Tung.

At a meeting withbusinesses and foreign guests ahead of the Lunar New Year (Tet) on January 23,Tung said corporate tax collection stood at 11.4 trillion VND (492.56 million USD),or 46 percent of the city’s total earnings.

Specifically, state-owned firms contributed 3.2 trillion VND (138.27 millionUSD) to the state budget, while nearly 4 trillion VND (172.8 million USD) andnearly 4.2 trillion VND (181.48 million USD) came from foreign directinvestment businesses and non-state enterprises, respectively.

Large tax payers in the city include automaker Vinfast (51.85 million USD),gasoline region 3 company (over 21.6 million USD) and Hai Linh oil and gascompany (more than 21.6 million USD), among others.

Besides, the business community has engaged in social welfare activities likebuilding houses for the needy and supporting families who had served the nation.

Tung said the development still fell short of the city’s expectation, as HaiPhong only contributed 3.24 percent to the country’s GDP compared to 13.1percent by Hanoi. In addition, the expansion of Cat Bi International Airportand the opening of flights to Japan, China and the Republic Korea were stillslow.

Currently, the city is home to some 31,500 businesses, but only two thirds ofthem fulfill their tax payment responsibilities, he added.

To handle the issues, the city plans to create favourable conditions for bothdomestic and foreign investors to expand business in the city. Strictpunishments and fines will be meted out to any organisation or individual thatstands in the way of investors’ business development.

Further, attention will be paid to constructing transport infrastructure, urbaninfrastructure as well as power and water facilities, he said.

Hai Phong is envisioned to contribute 6.38 percent to the country’s GDP by 2025and the figure is raised to 8.2 percent by 2030.
Meanwhile, thecity’s earnings are expected to reach 35 trillion VND (1.51 billion USD) by2020, 55-60 trillion VND (2.38-2.59 billion USD) by 2025, and 90-95 trillionVND (3.89-4.1 billion USD) by 2030.-VNA
VNA

See more

At the February 14 meeting between Lao Prime Minister Sonexay Siphandone and a delegation of Vietnamese businesses and international enterprises from various countries. (Photo: VNA)

Vietnam strengthens business and investment ties in Laos

Highlighting Laos's vast potential for trade and investment cooperation, Lao Prime Minister Sonexay Siphandone said that Laos is an attractive investment destination, particularly in agriculture, tourism, logistics, and infrastructure development.

Lao government officials and representatives of Vietnamese businesses at the seminar (Photo: VNA)

Vietnamese firms eye investment in Laos

He reaffirmed Laos as a key investment destination for Vietnamese and global firms, highlighting opportunities in agriculture, tourism, logistics, and infrastructure.

Vice Chairman of the Bac Giang People's Committee Mai Son (Photo: bacgiang.gov.vn)

Bac Giang speeds up non-state budget investment projects

In the coming period, the northern province of Bac Giang will focus on addressing challenges to non-state budget investment projects and expediting their progress, affirmed Vice Chairman of the provincial People's Committee Mai Son.

Representatives from industry associations share insights on Vietnam’s market trends. (Photo: VNA)

Vietnam, Thailand boost industrial trade exchange

Trade between Vietnam and Thailand reached 20.18 billion USD in 2024, up 6.4% year-on-year. Thailand remained Vietnam’s top ASEAN trade partner, accounting for 24% of its total trade with the bloc.

Representatives from Lao and Vietnamese agencies at the signing ceremony. (Photo: VNA)

Vietnam, Laos strengthen energy cooperation

A 1,200 MW wind power plant in Nong district, Laos’ Savannakhet province is expected to export 1,526 kWh to Vietnam annually once its first phase completes by the end of 2027, and additionally 1,112 million kWh per year after its second phase becomes operational in 2030./

A view of the Hanoi skyline. While rental properties continue to be in demand, there has also been a notable rise in the number of foreigners looking to buy houses. (Photo: VNA)

Housing demand from foreigners in Hanoi rises

Over several years, Hanoi has increasingly become an attractive destination for foreign workers, with approximately 10,000 new foreign workers are granted licences to work in the city each year.