Hai Phong seeks to attract more investors hinh anh 1Part of the Dinh Vu-Cat Hai economic zone. (Photo: anhp.vn)

Hai Phong (VNA) – The Hai Phong Economic Zone Authority (HEZA) has announced its plan to lure a new wave of capital in 2016.

According to HEZA deputy head Mai Xuan Hoa, the northern city is targeting investments of 1.8 billion USD from foreign firms and 10 trillion VND (450 million USD) from domestic ones.

As such, speeding up land clearance for infrastructure construction at the Dinh Vu-Cat Hai economic zone is top of the agency’s agenda, Hoa said.

Meanwhile, investment promotions, including providing policy consultation and building a constantly updated database system, are also prioritised .

Administrative procedures will be further overhauled to cut red tape, thus shortening licencing time.

Hai Phong boasts a highly incentivised policy targeting investors and a convenient transport system, which includes the Tan Vu-Lach Huyen deep-water port, Cat Bi international airport and the Hanoi-Hai Phong motorway.

Currently, there are 203 foreign-funded projects operating in industrial parks and economic zones in Hai Phong, with a total registered capital valued at more than 7.9 billion USD. Domestic firms have thus far invested over 46.8 trillion VND (2.1 billion USD) in 99 projects across the city.-VNA