The northern port city of Hai Phong attracted nearly 30 foreign directinvestment (FDI) projects totaling almost 2 billion USD in registeredcapital in 2013, an increase of over 60 percent compared to 2012.Analysis published by the Vietnam Economic News on February 8.
In2012, Hai Phong attracted 1.2 billion USD in FDI and was considered ahighlight in FDI attraction. The city currently has nearly 400 effectiveFDI projects with total registered capital of over 8 billion USD.
Hai Phong Economic Zone Authority Head Pham Thuyen said that in recentyears, the quality and size of FDI projects markedly improved.Previously, the projects' scale was only 2-4 million USD and the numberof projects with capital of 20 million USD upward was small.
HaiPhong has now attracted large projects from Japan and the Republic ofKorea (RoK), such as LG, Bridgestone, Fuji Xerox, Kyocera and NiproPharma. These projects use modern technology and equipment, have a highadded value and can help attract other projects. FDI projects worthhundreds of millions of USD and even billions of USD are found in HaiPhong.
FDI attraction in the city has seen a breakthrough since2011 when it attracted 910 million USD in FDI. The city attracted 1.2billion USD through 29 projects and became one of the biggest localitiesnationwide in terms of FDI attraction in 2012.
Hai Phong hasmore advantages than other localities to attract foreign investment. Thecity currently has 12 industrial zones, a notable of which is Nomura.Since 1994, Hai Phong has pioneered in building industrial parks withmodern, consistent infrastructure. Nomura has become one of the mostsuccessful industrial zones in Vietnam. It has leased out all of itsarea to investors. The other 11 industrial parks, including theVietnam-Singapore Industrial Park (VISIP), Dinh Vu-Cat Hai IndustrialZone, and Trang Due Industrial Zone, among others, have an area ofhundreds of hectare of land each and modern infrastructure satisfyingdomestic and foreign investors’ needs.
Hai Phong is a favorablegateway to land, railway and waterway routes and ranks first amongprovinces and cities nationwide in terms of seaport services. That iswhy most of big investors in Hai Phong produce goods for export.
In recent years, administrative procedures in the city have improved toincrease investor’s comfort. Hai Phong has taken the initiative incatching the wave of investment from many countries.
Hai Phongtargets to attract about 1.2 billion USD in FDI in 2014. To achieve thistarget the city has many solutions including speeding up theconstruction of infrastructure projects and creating a breakthrough inthe construction of essential infrastructure in the Dinh Vu-Cat HaiEconomic Zone.-VNA
In2012, Hai Phong attracted 1.2 billion USD in FDI and was considered ahighlight in FDI attraction. The city currently has nearly 400 effectiveFDI projects with total registered capital of over 8 billion USD.
Hai Phong Economic Zone Authority Head Pham Thuyen said that in recentyears, the quality and size of FDI projects markedly improved.Previously, the projects' scale was only 2-4 million USD and the numberof projects with capital of 20 million USD upward was small.
HaiPhong has now attracted large projects from Japan and the Republic ofKorea (RoK), such as LG, Bridgestone, Fuji Xerox, Kyocera and NiproPharma. These projects use modern technology and equipment, have a highadded value and can help attract other projects. FDI projects worthhundreds of millions of USD and even billions of USD are found in HaiPhong.
FDI attraction in the city has seen a breakthrough since2011 when it attracted 910 million USD in FDI. The city attracted 1.2billion USD through 29 projects and became one of the biggest localitiesnationwide in terms of FDI attraction in 2012.
Hai Phong hasmore advantages than other localities to attract foreign investment. Thecity currently has 12 industrial zones, a notable of which is Nomura.Since 1994, Hai Phong has pioneered in building industrial parks withmodern, consistent infrastructure. Nomura has become one of the mostsuccessful industrial zones in Vietnam. It has leased out all of itsarea to investors. The other 11 industrial parks, including theVietnam-Singapore Industrial Park (VISIP), Dinh Vu-Cat Hai IndustrialZone, and Trang Due Industrial Zone, among others, have an area ofhundreds of hectare of land each and modern infrastructure satisfyingdomestic and foreign investors’ needs.
Hai Phong is a favorablegateway to land, railway and waterway routes and ranks first amongprovinces and cities nationwide in terms of seaport services. That iswhy most of big investors in Hai Phong produce goods for export.
In recent years, administrative procedures in the city have improved toincrease investor’s comfort. Hai Phong has taken the initiative incatching the wave of investment from many countries.
Hai Phongtargets to attract about 1.2 billion USD in FDI in 2014. To achieve thistarget the city has many solutions including speeding up theconstruction of infrastructure projects and creating a breakthrough inthe construction of essential infrastructure in the Dinh Vu-Cat HaiEconomic Zone.-VNA
