Hai Phong: “Successful Destination” for investors

With the advantage of being an important traffic hub of the Northern Key Economic Zone, a gateway connecting Vietnam with many countries around the world, along with strong international integration efforts, Hai Phong City is gradually becoming a global maritime city, a key marine economic area of whole country.

Potentials from geographical location and synchronous infrastructure

Having an area of 1,519 km2, a coastline of over 125 km, Hai Phong has long been known as the largest seaport in the North of Vietnam, a logistics service center of whole country and ASEAN region, connecting two corridors - a belt of economic cooperation between Vietnam and China. The port city is also an important trading gateway of Northern key economic region. The favorable geographical location is one of reasons that make Hai Phong being the largest industrial, service, economic, scientific and commercial center of whole country.

Hải Phòng: “Địa chỉ đỏ” cho các nhà đầu tư

Hai Phong Port from above view.

At the same time, Hai Phong also has "golden conditions" as one of few localities that converges with 5 important types of traffic: Road, seaway, railway, waterway, and airway. These advantages not only help Hai Phong become the economic center of Red River Delta region and Northern Coastal region, but also are trade connection with regions across country.

The railway system connects with North - South railway network, Hanoi - Lao Cai - Kunming railway and Hanoi - Beijing railway; Cat Bi international airport achieves level 4E according to Standards of International Civil Aviation Organization (ICAO) ... Those also help the City improve its inter-regional and international traffic connection capacity.

Besides the geographical location, convenient transportation system, labor resources are also an advantage of "Red flamboyant city". With 1.2 million employees, of which 75% have been well trained with high quality, Hai Phong is ready to meet and keep up with the modern and high-tech era.

In addition to available advantages, the City actively adjusts the planning in accordance with actual development and investment, as well as builds technical infrastructure of economic zones and industrial parks. Typically, Dinh Vu - Cat Hai economic zone with a scale of 22,540 ha including tariff and non-tariff zones has been operating in city area. Urban infrastructure is also paid attention in developing by city’s policies.

Moreover, typical urban projects such as Vinhomes Imperia 45-storey Tower, Vinhomes Marina, Aeon Mall, Nikko Hotel, M'Gallery Cat Ba Hotel, cable car system across sea with the highest pylon in the world (214m), Flamingo Cat Ba luxury resort complex... are contributing to changing the appearance of port city.

Plentiful tourism potentials

In recent years, Hai Phong's tourism industry has made many strong changes, continuing to affirm the position and role of leading-edge economic sector, making positive contributions to city’s socio-economic development.

Hai Phong owns Cat Ba archipelago, which has long been famous as the only place in Vietnam that converges 4 national and international titles; Do Son peninsula runs in the direction of Northeast - Southwest, with charming landscape.

Besides, the City has many historical and cultural relics; hundreds of temples, pagodas with unique architecture, traditional craft villages and many unique folk festivals. Those are precious tangible and intangible cultural heritages, creating unique features of Hai Phong's land and people.

Service infrastructure system for tourists is also completed with 5-star hotel systems, complexes of amusement parks, entertainment and resorts with high-class facilities, enough stature and scale to organize international events, conferences and seminars. In addition, the City also owns systems of high-quality golf courses, beautiful landscapes and ideal climate conditions for golf sports services to become a strength of Hai Phong along with island tourism.

Hải Phòng: “Địa chỉ đỏ” cho các nhà đầu tư

Song Gia Golf Course - Hai Phong.

In particular, Hai Phong cuisine is also unique and delicate, from street food to luxury dishes are moreish and encapsulating the generous and friendly hearts of coastal people to tourists.

Thanks to above advantages, tourism sector has attracted a number of large enterprises such as Vingroup, Sungroup, Geleximco to invest billion dollars for building international-class tourist resorts. The service economy achieved an average growth rate of 9.42% per year, logistics services, aviation services, and tourists also achieved high growth rates.

Golden destination for investors

In recent years, Hai Phong has always kept its economic growth rate (GRDP) twice compared to general growth rate and is the bright spot of national socio-economic development.

In year 2020 and the first 6 months of year 2021, Covid-19 epidemic affected the growth rate of whole country. However, Hai Phong always tries to fulfill dual goals well. On the one hand, the City continues to promote investment attraction, especially foreign direct investment (FDI) projects and focus on public investment projects. On the other hand, actively and drastically implement measures to prevent and control Covid-19 epidemic. Thanks to that effort, in the first 6 months of year 2021, city's Gross Regional Domestic Product (GRDP) increased by 13.52% over the same period in year 2020, 2.4 times higher than national growth rate (5.64 %).

Currently, in city area, there are nearly 800 valid FDI projects, with a total capital of approximately 20 billion USD. In particular, many large international corporations choose Hai Phong as reliable destination to invest such as: LG, Regina Miracle International, Nipro Pharma, Kyocera Mita... Many large domestic investors have also trusted in choosing Hai Phong as profitable investment destination, with the presence of domestic large cooperation such as: Vin Group, Sun Group, Geleximco, FLC...

At the same time, Hai Phong actively enhances on-site investment promotion activities through organizing events such as: Vietnam - Japan Investment Promotion and Business Connection Conference in Hai Phong, Vietnam - Netherlands Business Connection Conference; Business Meeting and Connection Conference with Chinese enterprises; Regular business dialogue and contacts... The City's business investment environment is continuously improving, in addition to Hai Phong's efforts to remove difficulties and obstacles for investors and businesses.

In the context that Vietnam is increasingly integrating deeply and widely with the world, participating in important Free Trade Agreements (FTAs) such as CPTPP, EVFTA, RCEP, UVKFTA..., the City also regularly provides information, guidelines for enterprises to participate in training courses, conferences, face-to-face or online dialogues about contents and commitments implementation in FTAs; coordinates with Ministry of Industry and Trade and other provinces in providing information to business community on the situation of cargo transportation through border gate; the procedures of controlling and preventing epidemics... to create the most favorable conditions for export and import activities of enterprises.

Hải Phòng: “Địa chỉ đỏ” cho các nhà đầu tư

The autumn of Cat Ba Island (Photo: Tran Tuan Anh

In the coming time, Hai Phong will focus on attracting the oriented and selected investment, giving priority to attracting investment in leading-edge economic sectors, projects with high technology, environmentally friendly, efficient use of resources, large budget contributions, commitment to transferring potentially pervasive technology, and linkages with domestic enterprises along value chain. Target of 2021-2025 period, the City attracts from 12.5 to 15 billion USD of FDI capital.

Along with that, Hai Phong focuses on innovating economic growth model, restructuring economy towards the development of 3 main pillars: high-tech industry, seaport - logistics, tourism - trade. Restructuring industrial sector in the direction of focusing on developing key industries such as: automobile industry, manufacturing, electronics and information technology, and high-tech products... At the same time, building and developing Hai Phong into a center of seaports, key national and international logistics services.

With commitments to improving investment environment, maximizing advantages and potentials, as well as proactively integrating into international economy, Hai Phong will continue to be an golden destination for investors to accompany together for future development.

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