Business

RoK - important partner of Hai Phong in FDI attraction

Chairman of the Hai Phong municipal People's Committee hosted a local reception for a delegation of officials from several Korean conglomerates who came to explore the northern city's investment environment.
RoK - important partner of Hai Phong in FDI attraction ảnh 1At the reception (Photo: VNA)

Hai Phong (VNA) – Chairman of the Hai Phong municipal People's Committee hosted a local reception for a delegation of officials fromseveral Korean conglomerates who came to explore the northern city's investmentenvironment.

Tung told his guests that as one of the five centrally-run cities inVietnam, Hai Phong an important port city and a hub of Vietnam's economy,culture, health care, education, science, trade, and technology. The citycovers a natural area of 1,507sq.km and has a population of over 2 millionpeople. In recent years, Hai Phong has been one of the localities with thehighest growth rate nationwide. Even during the COVID-19 pandemic, the city managedto sustain its two-digit growth trajectory.

The city ranked third among 63 cities and provinces in the 2022 Provincial CompetitivenessIndex, and the second in the administrative reform index.

In the first half, its industrial production rose by 12.28%annually while gross regional domestic product grew by 9.94%, ranking thirdnationwide. Cargo throughput via its seaports reached69.10 million tonnes and 3.47 million people visited the city, including around500,000 foreigners.

According to him, Hai Phong has numerousadvantages in attracting foreign investors, including having all five types oftransportation systems (maritime, road, railway, aviation, and inlandwaterways). It boasts the largest seaport system in the northern region. TheCat Bi International Airport meets the 4E standards set by the InternationalCivil Aviation Organisation, allowing it to accommodate some of the world'slargest aircraft.

The city is now home to 872 foreign-investedprojects worth 26.15 billion USD. The Republic of Korea takes the lead in termsof the number of registered projects and value, reaching 179 projects worthover 10 billion USD.

Tung suggested that in the near future, the delegation wouldintroduce more capable Korean investors and firms to the city, step up all-around andsustainable cooperation in areas where the RoK has strength and Hai Phong haspotential, such as high-tech industry, real estate infrastructure, tourism andresorts, research and development centres, innovation and technology transfer,aviation, and health care.

Furthermore, they should focus on developinga complete ecosystem for Korean enterprises and the Korean community in HaiPhong while providing support to strengthen Korean language training in schoolsacross the city, he said.

The host added that Hai Phong could allocate roughly 1ha of landfor the construction of an oncology hospital in the city. If the investor requestsa larger area of 5ha, the city is also capable of meeting the demandimmediately.

Hai Phong is committed to the most favourableconditions for Korean investors to do business effectively in the city, hesaid./.

VNA
#investment environment #Vietnamplus #Vietnam News Agency #Hai Phong municipal People's Committee #2022 Provincial Competitiveness Index #Cat Bi International Airport Hai Phong Korea (RoK)
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