Hai Phong draws over 208 mln USD in FDI in Q1

Illustrative image (Source: VNA)

Hai Phong (VNA) – More than 208.5 million USD in foreign direct investment landed in northern Hai Phong city in the first quarter of 2016, up nearly 16 percent against the same period last year.

Of the figure, 57.34 million USD came from six newly-registered projects while the remaining 151.18 million USD was added to nine operational ones.

The city has to date hosted 491 valid FDI projects with a total investment of approximately 14 billion USD.

It is believed that the growth was largely owing to the city’s efforts to develop local infrastructure.

A number of large-scale projects have been developed to greatly support transportation in the city, such as Hai Phong Port, Cat Bi International Airport, Tan Vu – Lach Huyen Highway and Bridge, Hanoi – Hai Phong Expressway, Ha Long – Hai Phong Expressway, Bach Dang Bridge and expanded National Highway 10.

Chairman of the municipal People’s Committee Nguyen Van Tung said the city will continue improving local public administration system and enhancing business climate to lure more domestic and foreign investors.

Hai Phong has focused on improving quality of public services in order to make local residents and investors more satisfied.-VNA

VNA