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

ASEAN, China promote cross-border payments

ASEAN, China promote cross-border payments

In the first quarter of 2025, the value of RMB transactions between China and Malaysia reached 102 billion RMB (4 billion USD), up 27% year-on-year, while transactions with Cambodia reached 5 billion RMB (686 million USD), an increase of 45% compared to the same period in 2024.

Vietnamese Ambassador to China Pham Thanh Binh (left) and Chairman of the China Council for the Promotion of International Trade Ren Hongbin. (Photo: VNA)

Vietnam, China eye deepening trade promotion cooperation

The Vietnamese Embassy is ready to act as a bridge in facilitating cooperation between the China Council for the Promotion of International Trade (CCPIT) and Vietnamese partners, as well as in connecting enterprises from both countries, said Ambassador Pham Thanh Binh.

PM Pham Minh Chinh speaks at the meeting. (Photo: VNA)

PM calls for bold, accelerated action in railway development

Prime Minister Pham Minh Chinh has urged ministries, agencies, and localities to act with “greater speed and boldness” to carry out Vietnam’s railway projects at the second meeting of the Steering Committee for key national railway projects in Hanoi on April 26.

Vietnamese Ambassador to Cambodia Nguyen Minh Vu meets with leaders and staff of three rubber companies in Kampong Thom province, Cambodia. (Photo: VNA)

Vietnam, Cambodia deepen investment links in Kampong Thom

Vietnamese Ambassador to Cambodia Nguyen Minh Vu on April 25 paid a working visit to several subsidiaries of the Vietnam Rubber Group (VRG) in Kampong Thom province, and held discussions with provincial leaders to enhance coordination and create more favourable conditions for Vietnamese firms, thereby promoting stronger bilateral investment ties.

Can Tho leaders and Bestway Group executives perform the symbolic launch ceremony for the new project. (Photo: VNA)

Bestway International launches 300 million USD plant in Can Tho city

Once operational, the plant is projected to create over 5,000 direct jobs and generate approximately 500 million USD in annual revenue, primarily through exports. The project is expected to significantly enhance regional employment and economic growth, contributing to Can Tho’s development and the broader Mekong Delta region.

Tra fish processed for export in Dong Thap province (Photo: VNA)

World Bank forecasts Vietnam's GDP growth at 5.8% in 2025

As a trade-oriented economy, with imports and exports representing almost 170% of the GDP, Vietnam is particularly exposed to ongoing shifts in global trade policies. The US remains the largest export destination of Vietnam, accounting for 30% of its total exports, while China makes up 38% of its imports.

Vietnamese Minister of Industry and Trade (MOIT) Nguyen Hong Dien (Photo: VNA)

US calls tariff talks with Vietnam productive

US Trade Representative Jamieson L. Greer and Vietnamese Minister of Industry and Trade (MOIT) Nguyen Hong Dien agreed on the importance of making swift progress towards reciprocal and balanced trade between the US and Vietnam.

The working delegation from the Party Central Committee's Commission for Information, Education and Mass Mobilisation inspects the resettlement area for residents affected by the Ninh Thuan 1 Nuclear Power Plant project. (Photo: VNA)

Ninh Thuan asked to gain public support for nuclear power plant project

Pham Van Hau, Permanent Deputy Secretary of the provincial Party Committee and Chairman of the provincial People’s Council, stated that recognising the importance of the project, the province has developed specific plans and a roadmap for its implementation. This includes focusing on effective communication efforts to gain high consensus among officials, Party members, and people.