Hai Phong Attracted More Than 916 Million USD of FDI

Hai Phong is a seaport city, an attractive destination for foreign investors to explore and invest in Vietnam. In the first three months of 2018, Hai Phong attracted more than 916 million USD of foreign direct investment (FDI), an increase of 332.34% over the same period last year. Among them, 15 new projects have been approved, 12 projects adjusted to increase capital.

The number of active FDI projects in the city is 532 projects with a total registered capital of 15.44 billion USD.

According to the Chairman of Hai Phong People’s Committee, this positive result is due to the city’s efforts to reform administrative procedures, improve the investment environment; focus on removing difficulties for enterprises, boosting trade and attracting investment.

The city has successfully organized many events such as seminars on Japanese investment and tourism promotion; conference to meet enterprises in 2018 with the participation of 400 local and foreign enterprises that are producing and doing business in the area; two business dialogue conferences with a total of 22 quality proposals.

At the same time, the percentage of enterprises that conducted the business establishment procedure through the Internet has reached 67.89%.

Hai Phong also implemented the program “Capacity Building for Supporting Industries in Hai Phong City” with the support of senior volunteers from Japan International Cooperation Agency (JICA); implemented direct support activities at four enterprises and surveyed three firms preparing for the second phase of the project.

The city will focus on investment, accelerate the progress of key projects and works such as Hai Phong international gateway port in Lach Huyen, construction of new technical infrastructure in the North of Cam River.

At Hai Phong International Port, it is expected to inaugurated two launch terminals in mid-2018, which will be able to receive super-weight vessels. The coastal road connecting Quang Ninh with Hai Phong, Thai Binh, Nam Dinh, Ninh Binh and Thanh Hoa is also under construction.

In addition, Hai Phong also coordinates closely with Quang Ninh province to implement the Bach Dang Bridge project, linking Hai Phong with Quang Ninh, which is expected to be completed in the second quarter of 2018.

Hai Phong will also continue to construct works such as Terminal 2 – Cat Bi International Airport, Tan Vu – Lach Huyen Bridge No. 2 and continue to build the next wharfs of the Hai Phong international gateway port.

Thanks to the synchronous transportation system, Hai Phong has become one of the top local attractions for investors.

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