Hai Phong remains leading destination for FDI: Hai Phong Economic Zone Authority

The northern port city of Hai Phong attracted 647 million USD in foreign direct investment (FDI) in the first five months of 2024, up 11% year on year, solidifying its position as one of the biggest recipient of FDI nationwide.
Hai Phong remains leading destination for FDI
Lach Huyen international port in Hai Phong (Source: VNA)

Breaking down the figure, 247 million USD came from 29 newly-registered projects while the remainder was from 19 projects registering for increased capital.

As of May, Hai Phong drew a total of 556 FDI projects worth over 26.72 billion USD.

Head of the Hai Phong Economic Zone Authority (HEZA) Le Trung Kien attributed the city's success to its diversified and flexible approach to attracting investment. This includes actively promoting investment opportunities at home and abroad, along developing infrastructure in industrial parks and economic zones.

He highlighted the impressive occupancy rate of 65% currently achieved in industrial zones, with an average investment density of some 12 million USD per ha.

Looking ahead, he revealed the establishment of a new coastal economic zone in Hai Phong's southern area. This zone, envisioned to be the second major economic zone after the Dinh Vu – Cat Hai zone established in 2008, will encompass roughly 20,000 ha across Do Son, Kien Thuy, An Lao, Tien Lang and Vinh Bao districts.

The development is planned to be an ecologically conscious, multi-sector economic zone focused on high-tech industries, modern logistics, and positioning Hai Phong as a key hub within global and regional value and supply chains.

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(Source: VNA)