Port city ranks second in FDI attraction

Wednesday, Mar 26, 2014 08:00

HA NOI (VNS) — The northern port city of Hai Phong remains the country's second-biggest recipient of foreign direct investment (FDI), with US$235.4 million poured into the locality in the first quarter of 2014.

At a press briefing on Monday, Director of the municipal Department of Planning and Investment, Duong Ngoc Tuan, said the money was invested in 11 new and five existing projects, mostly in support industries, housing, trade and services and automobile spare parts.

Hai Phong's FDI attraction is second only to the southern province of Binh Duong and is higher than HCM City, which ranks third.

The city targets FDI of about $1 billion in 2014 and favours investors from the US, Japan, the Republic of Korea and Europe, Tuan said.— VNS

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