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PM greenlights major investment at Nam Trang Cat industrial zone

The Prime Minister has approved investment policy for infrastructure development at the Nam Trang Cat industrial zone in the northern port city of Hai Phong.

Illustrative image (Photo: plo.vn)
Illustrative image (Photo: plo.vn)

Hanoi (VNA) – The Prime Minister has approved investment policy for infrastructure development at the Nam Trang Cat industrial zone in the northern port city of Hai Phong.

Spearheaded by Vinhomes Industrial Zone Investment JSC, the project will span 200.39ha in Trang Cat ward, Hai An district, boasting an investment of over 2.25 trillion VND (88.6 million USD), with Vinhomes pouring in 337.9 billion VND.

The venture is set for a 50-year operational term, starting on January 14, 2024.

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.

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.

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 totaled 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.

This boom has led to employment for 210,182 workers, each earning an average of 11.52 million VND per month./.

VNA
#Prime Minister #Nam Trang Cat industrial zone #Hai Phong Economic Zone Authority Hai Phong
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