Firms play crucial role in Hai Phong’s industrial development: official hinh anh 1A corner of Hai Phong port (Source:VNA)

Hai Phong (VNA)
- Enterprises in industrial parks and economic zones are important driving forces for industrial development in the northern port city of Hai Phong, a local official has said.

Chairman of the municipal People’s Committee Nguyen Van Tung affirmed this during a conference on July 5, which aimed to review the investment attraction into the city’s industrial parks and economic zones in the 2013-2018 period.

Over the last 25 years of development, the Hai Phong Economic Zone Authority (HEZA) lured 262 foreign direct investment (FDI) projects with a total capital of 12.3 billion USD, accounting for nearly 80 percent of the FDI poured into the city.

It also granted licences to 127 domestic projects worth over 97.3 trillion VND (4.3 billion USD).

Notably, a new wave of investment from Japan and the Republic of Korea was poured into Hai Phong from 2013-2018 with the total investment of 9 billion USD, which made up 73 percent of the total FDI attracted by the city in the last 25 years.

Also in the reviewed period, domestic investors injected over 70,000 VND in projects in the city, accounting for 70 percent of the city’s total domestic investment.

Director of the Hai Phong Economic Zone Authority Pham Van Moi said enterprises in industrial parks and economic zones have respectively contributed over 60 percent and more than 70 percent of Hai Phong’s industrial production value and export turnover, creating over 100,000 jobs for locals.

Their contribution has accounted for nearly 20 percent of the local budget collection, helping the city re-invest and improve its infrastructure system and social welfare.

With its efforts to improve investment and business environment and facilitate investors’ operation in the city, Hai Phong’s Provincial Competitiveness Index in 2017 ranked ninth among 63 provinces and cities nationwide, up 19 places compared to that in 2015. It has been also named among top 10 attractive investment destinations in Vietnam.

In recent years, the municipal authority has paid attention to developing and upgrading the transport infrastructure system to link the city with other northern localities.

The city plans to build passenger terminal 2 in Cat Bi International Airport, a number of transport routes, ports in the Hai Phong Port, other infrastructure facilities serving tourism, education, entertainment centres and urban areas.

Chairman Tung took the occasion to call on investors to help the city promote its image and introduce its investment environment to others.

More efforts will be done to accelerate administrative reform and enhance State management, thus swiftly addressing difficulties facing enterprises, especially those related to land clearance.

In the first two months of 2018, Hai Phong’s industrial production index went up 20.61 percent year on year.

Its export revenue reached 1.14 billion USD, up 24.14 percent. Up to 16 million tonnes of cargo were handled at the Hai Phong Port, up 18.34 percent.

It contributed over 9.1 trillion VND (400 million USD) to the State budget.-VNA