Hai Phong expands industrial parks to draw more FDI

The northern port city of Hai Phong is rolling out measures to make breakthroughs in the development of economic zones (EZ) and industrial parks (IP) to attract more foreign direct investment (FDI).

Hai Phong city plans to build 15 more IPs with a total area of over 6,200 hectares. To date, the construction of two has been approved by the Prime Minister, covering nearly 1,200 hectares.

Hai Phong expands industrial parks to draw more FDI | Business | Vietnam+ (VietnamPlus)
Le Trung Kien (fourth, left), Head of the Hai Phong Economic Zone Authority, visits and presents gifts to businesses in local IPs on February 5. (Photo: VNA)

Alongside, as the city aims to develop sustainably, it is switching traditional IPs into ecological IPs at DEEP C IP and Nam Cau Kien IP, heading to the circular economy model, thus saving resources, reducing costs, and protecting public health and the environment.

Hai Phong has also built a project to adjust the general planning of the Dinh Vu-Cat Hai EZ until 2040 with a vision for 2050. The city also aims to construct an EZ in the south of the city, which is expected to take shape in 2025 with an area of 20,000 hectares.

So far, the city has had 14 IPs with an average occupation rate of 63.25 per cent.

Le Trung Kien, head of the Hai Phong Economic Zone Authority, said that last year, the city drew 3.5 billion USD of FDI, raising the total in the city to 26.5 billion USD, with priority to projects with high and environmentally friendly technologies.

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(Source: VNA)