Hai Phong commits to attractive environment for EU investors

The northern port city of Hai Phong is striving to create an attractive business environment for foreign investors, especially those from the European Union (EU), affirmed Secretary of the municipal Party Committee Le Tien Chau.

Vietnamese and EU delegates in a group photo (Photo: VNA)Vietnamese and EU delegates in a group photo (Photo: VNA)

During a local working session on April 20 with a delegation led by Ambassador Giorgio Aliberti, Head of the EU Delegation to Vietnam, Chau said with its geographical, political and economic advantages as well as high level of economic openness, Hai Phong is becoming an attractive destination for both domestic and foreign investors.

At present, the EU member states are all advanced in new industries such as renewable energy and high-tech industries, with strengths in supply chain and logistics, green economy, digital economy, and circular economy. These are essential fields for the industrialisation and modernisation of Vietnam and Hai Phong in particular, the official said.

According to him, Hai Phong is aiming to become an international city that is comparable with the top cities in Asia, leading the country in industrialisation and modernisation.

Chau believed that there remains ample room for ties between Hai Phong and EU partners to grow further.

He wished that in the near future, ambassadors of EU countries would continue serving as an important bridge to boost all-around cooperation between Hai Phong and EU nations, and encourage firms in the bloc to invest in high-quality projects in Hai Phong.

Hai Phong is committed to all possible support for EU firms to do business in the city, he said.

The host also sought their specific assistance in net zero emissions by 2050, logistics, maritime, culture, health care and education.

Expressing their impression on the city’s provincial competitiveness index, the guests lauded Hai Phong as one of the attractive and important destinations for European investors. They discussed improving business environment related to the implementation of the EU-Vietnam Free Trade Agreement.

Aliberti stressed that via the visit, the EU Delegation will work to assist Hai Phong in the development of green economy, circular economy, renewable energy, logistics and infrastructure.

At present, the EU investors have poured over 160 million USD into 18 projects in local industrial parks and economic zones. Apart from them, there are 32 EU-funded projects worth 927.6 million USD in the city.