The northern port city of Hai Phong has lured approximately 1.9 billion USD of direct foreign investment (FDI) so far this year, ranking third among provinces and cities in Vietnam.
The figure represents a 65.12 percent increase from the same period last year, said Vice Chairman of the municipal People’s Committee Dan Duc Hiep.

Notably, the LG Electronics Vietnam Ltd. Co., an affiliate of the Republic of Korea-based LG Group, has poured 1.5 billion USD into the city’s Trang Due industrial park.

To achieve such outcome, Hai Phong has regularly streamlined its administrative procedures and well performed the “one-door” mechanism.

Meanwhile, the Hai Phong Economic Zone Authority has renovated investment promotion activities, organised meetings to call for investment both at home and abroad, and made good use of support from ministries and central agencies and Vietnam ’s representative agencies in other countries.

It has also bettered the quality of public administration services while caring for the need of businesses operating in industrial parks, thus advertising the province’s investment environment.

The authority is managing the Dinh Vu – Cat Hai Economic Zone and 19 industrial parks in Hai Phong.-VNA