Hai Phong attracts more investment

Monday, Jan 25, 2016 08:14

A view of Dinh Vu-Cat Hai Economic Zone.— Photo anhp.vn
HA NOI (Biz Hub) — The northern city of Hai Phong has so far attracted approximately US$2.26 billion in investments, including $1.8 billion in foreign direct investment, into its industrial zones (IZs) and economic zones (EZs).

Deputy head of the Hai Phong EZ Authority Mai Xuan Hoa told baodautu.vn that the influx of investment capital to the city's IZs and EZs has increased significantly in recent years thanks to its improved infrastructure, effective overseas and domestic investment promotion activities and the attractive investment climate.

As an example, he said last year the city-based IZs and EZs alone lured $869 million in foreign direct investment (FDI), making up 87 per cent of the total FDI registered in the city. They also attracted more than VND10.49 trillion ($479.2 million) in domestic direct investment, up 31 per cent year-on-year.

Among the large projects, included the $117 million South Dinh Vu Industrial Zone 2 (Deep C II) being developed by Belgian Rent-A-Port Group, the $120 million apparel production factory built by Singaporean Herberton Private Limited in Viet Nam-Singapore Industrial Park Hai Phong (VSIP Hai Phong), and a domestically-invested carton packaging plant, worth $45.4 million, in Trang Due IZ.

These projects not only contributed to creating jobs for local people, but promoted the city's socio-economic development, said Duong Ngoc Tuan, director of the municipal Department of Planning and Investment.

Le Thanh Son, vice chairman of the municipal People's Committee, said he believed that the investment wave in the city would be stronger in the near future when large transport infrastructure projects become operational at the national level.

In addition, its investment environment has strongly improved, especially administrative procedures which help businesses reduce the time required for obtaining licences, customs and tax declarations.

The integrated infrastructure, especially the transport system, has been one of the greatest advantages for the city in becoming an attractive investment destination.

There are some large transport projects, such as the Ha Noi-Hai Phong Expressway, Tan Vu-Lach Huyen Bridge, Hai Phong International Gateway Port and the Cat Bi International Airport. — VNS

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