Hai Phong aims for over 3 bln USD in FDI poured into industrial zones

The Hai Phong Economic Zone Authority (HEZA) is setting its sights high for 2025, aiming to attract 3-3.5 billion USD in foreign direct investment (FDI), according to its head Le Trung Kien.

At a Taiwanese factory in An Duong industrial park, Hai Phong (Photo: VNA)
At a Taiwanese factory in An Duong industrial park, Hai Phong (Photo: VNA)

Hai Phong (VNA) – The Hai Phong Economic Zone Authority (HEZA) is setting its sights high for 2025, aiming to attract 3-3.5 billion USD in foreign direct investment (FDI), according to its head Le Trung Kien.

To that end, Kien asked HEZA units to give advice to city leaders to draw FDI from countries and territories, focusing on creating a pro-business environment that streamlines administrative procedures and facilitates labour recruitment for investors.

This proactive approach is designed to ensure that potential investors feel supported from the very first stages of exploration through to the successful implementation of their projects.

According to Kien, HEZA will prioritise several key tasks this year, including drafting a masterplan for the southern coastal economic zone, alongside launching new industrial and eco-industrial parks designed to capitalise on emerging investment trends in semiconductor manufacturing and artificial intelligence.

HEZA reported that in 2024, FDI inflows into industrial and economic zones soared to 4.35 billion USD, or 242% of the target. Cumulatively, total FDI in these zones now stands at 30.3 billion USD, with over 77% of projects concentrated in high-tech, manufacturing, processing, and logistics. Notably, Korean group LG alone has channelled 10.59 billion USD into Hai Phong so far.

This success could be attributed to HEZA's selective investment strategy, which prioritises enterprises that are not just financially robust but also environmentally conscious and high-tech, contributing significantly to local growth. This aligns perfectly with the city’s strategic pillars: industry and high-tech, seaports and logistics, and tourism and trade.

Investment promotion programmes and conferences at home and abroad were also instrumental in this success, with HEZA hosting nine major events in Taiwan (China), the Republic of Korea, Japan, and China. These gatherings have fostered connections with industry leaders, particularly those in the semiconductor and AI sectors.

Last year, firms operating in local industrial and economic zones generated a total revenue of 33.5 billion USD, equivalent to 105% of the target. Their exports were estimated at 28.5 billion USD, or 109% of the yearly target while imports totalled 22.8 billion USD, achieving 107%. Their tax contributions to the state budget amounted to 12.35 trillion VND (494 million USD), meeting 104% of the target.

Currently, 210,182 workers are employed in these zones, each earning a monthly average of 11.52 million VND./.

VNA

See more

Minister of Industry and Trade Nguyen Hong Dien and Deputy Prime Minister of the Republic of Belarus Anatoly Sivak sign the meeting minutes. (Photo: VNA)

Vietnam, Belarus unveil key solutions to boost trade

Vietnam and Belarus are set to deepen bilateral cooperation in all fields, particularly in economy-trade and science-technology, through their Intergovernmental Committee mechanism, affirmed Minister of Industry and Trade Nguyen Hong Dien.

Honda Vietnam's new CEO, Sayaka Hattori (Photo: VNA)

Honda Vietnam has new female CEO

Sayaka Hattori, a Japanese national with over 25 years of experience in the automobile and motorcycle industry, was appointed as new CEO of Honda Vietnam on April 1.

Illustrative image (Photo: VNA)

Annual enterprise census kicks start nationwide

The survey will span all the 63 provinces and centrally-run cities in Vietnam, targeting enterprises and cooperatives engaging in production and business activities across almost all sectors.

Participants at the talks between Minister of Construction Tran Hong Minh and Korean Minister of Land, Infrastructure, and Transport Park Sangwoo in Hanoi on March 31. (Photo: VNA)

Vietnam calls on RoK to share expertise in high-speed railway development

Minister of Construction Tran Hong Minh applauded the RoK’s proposal to organise a railway cooperation forum, seeing it as an opportunity for state management agencies, experts, research institutions, universities, and businesses of Vietnam to gain insights from the RoK’s experience in planning, construction, maintenance, and developing high-speed rail industry.

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

Vietnam, RoK step up railway development cooperation

Since 1996, the Korean government has provided funding for Vietnam’s transport infrastructure development. To date, the two countries have successfully completed nine projects, with total loans of over 1 billion USD, and are currently working on six other projects with loans worth nearly 600 million USD.

The passengers boarding the first flight from Taiwan to Quang Binh at Dong Hoi Airport (Photo: VNA)

Quang Binh province welcomes first flight from Taiwan

These international flights, the first of their kind, marked a significant milestone for the Dong Hoi airport, particularly following its designation as one of three domestic airports authorised to process foreign passengers' arrivals and departures using electronic visas.

The second branch of the Vietnam-Germany Friendship Hospital – a project deemed causing massive waste (Illustrative Image - Source: VNA)

PM orders urgent reviews, reports of delayed investment projects

The dispatch highlights that ministries, sectors, and localities involved must intensify their efforts to resolve these stalled investment projects in a bid to accelerate socio-economic development and prevent waste of state, business, and public resources.

At the signing ceremony of the 25-year production sharing contract (PSC) for oil and gas exploration in Block 15-2. (Photo: VNA)

Vietnam, Japan forge 25-year oil and gas partnership

Son noted the Block 15-2 contract is a crucial step after the 2022 Law on Oil and Gas took effect, urging contractors to carry out their commitments to maximise the productivity of the block as well as enhance oil recovery rate – an important task to ensure energy security.