Hai Phong – berth of friendly ships for investors and investment from ASEAN

TIN LIÊN QUAN
	Nearly 298 million USD earmarked for container berths in Hai Phong
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A corner of Do Son Industrial Park which is located in Hai Phong city.

Potentials of a vibrant seaport city

With a total area of 1.500 km2 and a population of 2 million people, Hai Phong is the convergence of 5 major types of traffic: road, railway, seaway, inland waterway and airway; Lach Huyen deep-water port is the only international gateway port of entire North Vietnam. This advantage has not only made Hai Phong an economic center of the Red River Delta and North Coast Vietnam, but also a bridge of trading with regional countries and the rest of the world.

The system of ports with 40 major and minor ports, notably the gateway port Lach Huyen has the ability to dock up to 150.000 DWT transport ships, changing the entire picture of port operations and seaway transportation in the North, promoting investment attraction, especially foreign direct investment. Moreover, the road traffic system for transportation is developed synchronously toward smart traffic, ensuring fast and safe travel. The railway system is connected with the North-South Railway, Ha Noi – Lao Cai – Kunming (China) Railway, and Ha Noi – Beijing (China); Cat Bi International Airport has reached level 4E in Reference Code of the International Civil Aviation Organization…. All of these helped to increase the ability to interconnect traffic regionally and internationally.

Vietjet Air to open Hai Phong-Busan (RoK) direct air route

In order to attract resources for development, for years, the city has proactively planned, invested and built infrastructures, upgrading technologies for economic and industrial zones, such as Dinh Vu – Cat Hai Economic Zone with a total area of up to 22,540 ha, including tariff and non-tariff areas; industrial zones of Dinh Vu, Trang Due, Nam Dinh Vu, VSIP, Cat Hai, Lach Huyen... making Hai Phong an attractive location for investors.

At the same time, symbolic buildings have been constructed, including new urban areas, shopping malls and 5-stars hotels: Vinhome Imperia 45-floor Tower, Vinhome Marina, Aeon Shopping Mall, Nikko Hotel, M’Gallery Cat Ba Hotel, sea-crossing cable cars with the world’s highest pillars, Flamingo Cat Ba Beach Resort… These, coupled with future buildings have and would slowly elevate Hai Phong to become an international trade and tourism hub.

In addition to the infrastructure system, Hai Phong also has an abundance of human resources, with 1.2 million people in the workforce. Due to its favorable position in the Red River Delta, the city could attract more workforce, provide production materials for the vicinity and fulfill the requirements of investors and companies.

With the tradition of “Righteous and brave, determined to win”, Hai Phong is the convergence of the cultural and human powers, keeping, promoting its cultural identities and human traditions. Unique festivals, historical and cultural sites, as well as scenic spots such as Historical site of Trang Kenh Temple; Cao Quy ground of piles with other areas related to the war against invaders on Bach Dang River in Thuy Nguyen district; Historical site of Trang Trinh Nguyen Binh Khiem Temple that shows the learning spirit in the Vinh Bao district; Xuan Dam mineral water spring; Lan Ha Bay of Cat Ba archipelagoes, Cat Ba district, is honored as one of the most beautiful bays in the world. All of these have been the inspirations for tourists, domestic and international friends who want to explore and seek investment and development opportunities.

A successful destination

In 5 recent years (2016 – 2020), Hai Phong’s gross regional domestic product (GRDP) has been consistently high, with an average of 2.2 times in comparison to the national standard, making the City a highlight in the national socio-economic development. In 2019, the City’s GRDP is 16.62%, the highest in its history. During half of 2020, under the significant impacts of the COVID-19 pandemic, while other provinces’ growth rates suffered significantly, Hai Phong managed to keep its second digits growth rate (10.87% in comparison to the same quarter in 2019).

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At the same time, the city pushed forward to start the construction and inaugurate a number of major projects and constructions for the development of the city, such as The urban traffic development project, the opening of the projects on the road junction on West of Binh Bridge, apartment complex HH4 Dong Quoc Binh, Artificial beach of the Doi Rong International tourism area, Vinwonders theme park…

With available potentials and advantages, Hai Phong has reached out to develop, to make an impressive breakthrough in the process of attracting investment and become one of the most attractive locations for domestic and foreign investors. The City has become the location for 728 foreign direct investment (FDI) projects, with a registered capital of 18.45 billion USD. Major global conglomerates have chosen Hai Phong to be their destinations such as LG, Regina Miracle International, Nipro Pharma, Kyocera Mita… Major domestic investors also put their trust in Hai Phong to be their invested location such as Vin Group, Sun Group, Geleximco, FLC… with dozens of projects, building and hotel complexes, shopping malls, apartment complexes and resorts.

In international trade relations, ASEAN is currently one of the most potential markets of Hai Phong. A lot of competitive products of the city have been stably and sustainably provided to markets of ASEAN countries, such as Electronic components, mechanical machines and equipment, wires and cables, iron, steel, plastic products, footwear, textiles. In contrast, ASEAN is also a large source of goods that meet Hai Phong’s production requirements such as chemicals, plastics, rubber, machines and mechanical equipment, oils, raw materials of garments and footwear.

On the basis of favorable, bilateral trade relations, Hai Phong has attracted many ASEAN investors, among those major investors with influences on the development of the city. The total amount of investment projects from ASEAN countries in Hai Phong is 60, with a registered capital of 1.19 billion USD and is composed of: 1 project from Brunei (0.5 million USD), 1 project from Indonesia (11 million USD), 08 projects from Malaysia (68.92 million USD), 09 projects from Thailand (146.42 million USD) and at last, 41 projects from Singapore (965.68 million USD). Among those 41 projects of Singapore, investors focus on investing in sectors such as services (14 projects), industrial productions (12 projects), infrastructure investments – real estate businesses (08 projects) and other sectors such as Urban housing, industries and services for VSIP Hai Phong (stage 01 and 02 have been initiated with registered capital of 268.2 million USD)…

At the moment, the city is promoting its exports of goods to Laos and Malaysia; exchanging tourism activities with Thailand and actively deploying cooperation in other fields, such as education, human resource development, people-to-people exchange, a celebration of major events of ASEAN countries…

Regarding local cooperation, Hai Phong has a partnership with Sihanoukville province (Cambodia) and had signed a cooperation agreement with Vientiane, Oudomxay province (Laos) in several sectors such as Party building, administration, education, tourism and commercial investment.

Attempting to improve the quality of cooperation and investment attraction

Implement the Strategy to attract FDI in 2016 – 2020, Hai Phong has actively innovated the method of trade promotions through organizing events such as Conference on Vietnam – Japan trade promotion and connections in Hai Phong in 2019, Meeting, exchanging with businesses in the Year of the Dog 2019; Meeting Chinese businesses; Discussion of “Meeting Azerbaijan 2019”, dialogues and periodic exchanges with businesses…

Hoang Van Thu bridge in Hai Phong.

The investment and business environment of the city has consistently improved. Hai Phong has always been concerned with resolving challenges, difficulties for investors and businesses. Through monthly exchanges with businesses, their difficulties, challenges and suggestions were always heard and quickly resolved. Therefore, businesses and investors have their trust in Hai Phong. Administrative reforms, specifically on administrative procedures, have gradually accelerated. Together with the three social levels, economic, traffic, urban and tourism infrastructures were paid special attention. Domestic and foreign traffics have slowly improved and created connected trading routes between the area and in the country.

In 2019, Hai Phong’s competitiveness index, administrative reforms index and satisfaction index of public administrative services have been among the best in the national ranking and continued to improve significantly. The city’s provincial competitiveness index ranked 10th among 63 provinces and cities and 4th in the Red River Delta provinces and cities, advances by 6 ranks in comparison to 2018. The city’s Peer Assessment Rating Index (PAR) is ranked 4th among 63 provinces and cities, 3rd in the Red River Delta provinces and cities, advances by 1 rank in comparison to 2018. The city’s Satisfaction Index of Public Administrative Services (SIPAS) is ranked 2nd among 63 provinces, cities and advances by 7 ranks in comparison to 2018.

With an improved investment environment, advantages and potentials fully explored, conditions on infrastructure, logistics, urban housing, human resources…ready to be fulfilled by a vibrant, innovative, friendly and welcoming city, Hai Phong will be a trustful destination for investors, along with the new investment waves from ASEAN. For the development of a prosperous Vietnam – ASEAN!

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