Hai Phong targets US$1.5 billion in FDI in the second quarter

Saturday, Apr 17, 2021 08:54

A production line at the Jasan Vietnam company at VSIP Hai Phong. The northern port city of Hai Phong targets US$1.5 billion in foreign direct investment (FDI) in the second quarter of 2021. — VNA/VNS Photo Danh Lam

The northern port city of Hai Phong is targeting US$1.5 billion in foreign direct investment (FDI) in the second quarter of 2021, according to head of the Management Board of Hai Phong Economic Zones Le Trung Kien.

Kien said the city will increase discussions to explore obstacles facing businesses, while enhancing the efficiency of investment promotion activities, while prioritising investors with high capacity and advanced, environmentally-friendly technologies.

Along with speeding up administrative reforms, the board will coordinate closely with the local police force to ensure order and security in economic zones and industrial parks, creating a safe environment for enterprises, Kien said.

He said Hai Phong currently has 12 industrial parks. As of March 31, 2021, the local industrial parks and economic zones had lured 406 FDI projects worth $17.15 billion.

The average occupancy rate in the local industrial park has reached 62.5 per cent and there are 154,100 labourers working in Hai Phong’s industrial parks and economic zones.

In the 2021-2025 period, Hai Phong plans to construct 15 new industrial parks covering a total area of more than 6,200 hectares.

Last year, the city ranked seventh out of 63 provinces and cities nationwide in the Provincial Competitiveness Index (PCI), and second out of 11 provinces and cities in the Red River Delta region. — VNS

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