Policy reforms, infrastructure upgrades help Hai Phong attract investors

The northern port city of Hai Phong has recently issued investment certificates for 11 new projects in its industrial and economic zones.

Hai Phong issues investment certificates for 11 new projects in its industrial and economic zones. - Illustrative image (Photo: VNA)
Hai Phong issues investment certificates for 11 new projects in its industrial and economic zones. - Illustrative image (Photo: VNA)

Hai Phong (VNA) – The northern port city of Hai Phong has recently issued investment certificates for 11 new projects in its industrial and economic zones.

Notable projects among them include a project worth 12.4 million USD by Hogetsu Vietnam Co. Ltd., and an 8 trillion VND (316.6 million USD) construction investment and infrastructure business in Trang Due 3 Industrial Park of Saigon - Hai Phong Industrial Park Joint Stock Company.

This achievement reflects not only timely policy reforms by local authorities but also the city's innovative mindset and distinctive governance approach.

According to Nguyen Van Tung, Chairman of the municipal People’s Committee, the city’s reformed policies and collaborative efforts with the central government, ministries, and relevant agencies have significantly enhanced the investment environment, making Hai Phong a magnet for the international business community.

Hai Phong is actively fostering international and regional partnerships. Through the development of industrial zones in collaboration with global partners, the city aims to position itself as a vital link between Vietnam and major markets such as China, Japan, and the Republic of Korea.

Additionally, Hai Phong is investing in public services, including healthcare, education, and transport, to improve living standards for workers and professionals, further boosting its appeal to investors.

Vincent, General Director of Exquisite Power Vietnam, said the company recently inaugurated a 20-million-USD production facility specialising in Lithium-Ion and Ni-MH batteries at Nam Dinh Vu Industrial Park. He praised the extensive support provided by local and national authorities, including tax incentives and guidance in areas such as fire safety, environmental impact assessments, and labour regulations.

The establishment of a new southern coastal economic zone, along with the approval of investment policy for four additional industrial parks, is expected to raise the total number of operational industrial zones in Hai Phong to 18. The two economic zones with a total area of about 42,540 ha will create momentum for Hai Phong to make further breakthroughs in attracting investment in the coming time.

Le Trung Kien, Head of the Hai Phong Economic Zone Authority (HEZA), noted that the southern coastal economic zone will capitalise on the coastal highway connecting Thanh Hoa and Quang Ninh provinces, elaborating that it will maximise land use and contribute to realising the city’s socio-economic development objectives.

The city is developing an economic zone with a seaport and industrial system in anticipation of the Kunming - Lao Cai - Hanoi - Hai Phong high-speed railway, which is expected to start construction this year, connecting Hai Phong with the northwestern and southwestern provinces of China.

This railway, coupled with key projects such as Nam (South) Do Son Port and Tien Lang Airport, will establish an integrated multimodal transport network, making the southern coastal economic zone a regional and international hub, linking southwest China to the sea and connecting Hai Phong to China.

Hai Phong remains one of Vietnam’s leading destinations for foreign investment. The city has attracted over 1,000 foreign direct investment (FDI) projects from 42 countries and territories, with a total capital of 32.6 billion USD. Additionally, it has secured 231 domestic investment projects worth 13.7 billion USD, predominantly focused on manufacturing and processing industries within the Dinh Vu – Cat Hai economic zone./.

VNA

See more

NCSoft and VNGGames sign a cooperation agreement to develop products in Southeast Asia. (Photo: VNG)

More RoK’s game developers target Vietnam

Over half of Vietnam's nearly 100 million population being gamers and the country's competitive labour costs are among reasons for Korean gaming firms' expanding presence in Vietnam.

Representatives from the Vietnamese Embassy in the UK, LHR leaders, airline partners, and passengers at the anniversary event (Photo: VNA)

Vietnam Airlines marks 10 years of UK route operations

Vietnam Airlines launched its direct UK route in 2011, initially operating from London Gatwick Airport (LGW) before transitioning to Heathrow in 2015, improving connectivity to one of the UK’s major international hubs./.

President of the Cuban Chamber of Commerce (CCC) Antonio Luis Carricarte Corona. (Photo: VNA)

Cuban commerce official optimistic about bright future of Vietnam-Cuba cooperative ties

President of the Cuban Chamber of Commerce (CCC) Antonio Luis Carricarte Corona hailed Vietnam as Cuba’s second-largest trading partner in Asia and its top investor, spotlighting its foothold in the Mariel Special Development Zone via Viglacera. This zone, he noted, is set to become a pivotal hub for Vietnamese investment in the years ahead.

Imported cars seen at the northern port city of Hai Phong. (Photo: VNA)

Ministry proposes tax cuts for some imported cars

This initiative aims to diversify the supply of imported vehicles, foster competition in the domestic market, and align Vietnam’s tax policies with the evolving trends of the automotive industry.

Minister of Industry and Trade Nguyen Hong Dien and Deputy Prime Minister of the Republic of Belarus Anatoly Sivak sign the meeting minutes. (Photo: VNA)

Vietnam, Belarus unveil key solutions to boost trade

Vietnam and Belarus are set to deepen bilateral cooperation in all fields, particularly in economy-trade and science-technology, through their Intergovernmental Committee mechanism, affirmed Minister of Industry and Trade Nguyen Hong Dien.

Honda Vietnam's new CEO, Sayaka Hattori (Photo: VNA)

Honda Vietnam has new female CEO

Sayaka Hattori, a Japanese national with over 25 years of experience in the automobile and motorcycle industry, was appointed as new CEO of Honda Vietnam on April 1.