HÀ NỘI — The Prime Minister has approved investment policy for infrastructure development at the Nam Tràng Cát industrial zone in the northern port city of Hải Phòng.

Spearheaded by Vinhomes Industrial Zone Investment JSC, the project will span 200.39 hectares in Tràng Cát Ward, Hải An District, boasting an investment of over VNĐ2.25 trillion (US$88.6 million), with Vinhomes pouring in VNĐ337.9 billion.

The venture is set for a 50-year operational term, starting on January 14, 2024.

The Hải Phòng Economic Zone Authority (HEZA) is setting its sights high for 2025, aiming to attract $3-3.5 billion in foreign direct investment (FDI), according to its head Lê Trung Kiên.

HEZA reported that in 2024, FDI inflows into industrial and economic zones soared to $4.35 billion, or 242 per cent of the target. Cumulatively, total FDI in these zones now stands at $30.3 billion, with over 77 per cent of projects concentrated in high-tech, manufacturing, processing, and logistics.

Last year, firms operating in local industrial and economic zones generated a total revenue of $33.5 billion, equivalent to 105 per cent of the target. Their exports were estimated at $28.5 billion, or 109 per cent of the yearly target while imports totaled $22.8 billion, achieving 107 per cent. Their tax contributions to the state budget amounted to VNĐ12.35 trillion ($494 million), meeting 104 per cent of the target.

This boom has led to employment for 210,182 workers, each earning an average of VNĐ11.52 million per month. — VNS