Hai Phong has made a splash in attracting foreign direct investment (FDI) and there are indications that foreign investors will continue to set up company in Vietnam in general and particularly this port city in the near future.
In fact, there are few places in the Northern of Vietnam having complete infrastructure system with five modes (railway, road, air, river, sea) such as Hai Phong.
The new Hanoi – Hai Phong highway is one of the most modern in Vietnam. In 2016, Cat Bi International Airport has been expanded to create a large capacity air transportation system in the North (after Noi Bai International Airport, Hanoi), capable of transporting goods on all international routes. The new Lach Huyen port will be operated next year, allowing ships with draft of 14 meters or tonnage of 100,000 DWT to berth in Hai Phong, minimizing the transit time of ports such as Singapore or Hong Kong. These advantages of Hai Phong bring direct benefits to investors by shortening the time to bring products to market. Therefore, many foreign investors have seized the opportunity to invest and deploy the projects in Hai Phong.
By 2016, Hai Phong has licensed 490 FDI projects, with total registered capital of nearly 14 billion USD. Particularly in 2016, with 2.9 billion USD of FDI capital, Hai Phong has risen to the second position in FDI attraction, after Ho Chi Minh City.
Hai Phong still has a large land fund, in the “gold” positions. For example, Dinh Vu – Cat Hai Economic Zone has a total area of 22,540 ha and can be expanded to 600 ha; 19 industrial parks with an area of 9,112 ha and 33 industrial clusters with area of 2,284 ha.
According to representatives of the Deep C Industrial Complex, one of the reasons why investors chose to deploy the project is that industrial parks are located in strategic locations near the newly invested infrastructure, combined with a reliable utility system (including electricity, water, sewage) and the best incentive policy. This is why many investors have implemented large capital projects in Deep C’s industrial parks such as Bridgestone (Japan), Flat Glass (Hong Kong), Knauf (Germany)…
Apart from the advantages of location, infrastructure and good human resources, Hai Phong now has many models of quality industrial parks. That is the basis to believe that in the coming time, industrial zones in Hai Phong will welcome large capital flows from Asia.
Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.