To promote high-quality FDI capital inflow into the port city of Hải Phòng, a range of strategies for selecting investors is needed in the coming period.
With clear strengths in geography, human resources, and modern, synchronized infrastructure, Hải Phòng has consistently been regarded as a “fertile land” that attracts top domestic and foreign investors. That is why, in recent years, Hải Phòng has remained among the top localities in the country for attracting foreign investment.
An Attractive Land
According to the Hải Phòng Economic Zone Management Board, the city currently ranks among the top localities in the country for FDI attraction, with 1,000 FDI projects from 40 countries and territories, and a total accumulated FDI of $33.8 billion. The occupancy rate of industrial parks and economic zones in the city exceeds 70%. From January 2021 to the present, Hải Phòng has attracted nearly $16 billion in FDI, surpassing the 2021–2025 investment plan target of $12.5–15 billion, equivalent to 81% of the total FDI drawn in 1993–2020, averaging nearly $4 billion per year. The city has become a “ground base” for many large investors and deeply participates in global value chains.
In 2024, foreign investment reached $4.9 billion, up over 34% year‐on‐year and achieving 145% of the annual plan. This included large-scale projects such as LG Group’s expansion, increasing its investment by $1 billion; Heesung’s project with an additional $125 million; and the DEEP C industrial zone infrastructure project with an extra $169 million.
In 2024, businesses in the city overcame many difficulties, achieving impressive growth, demonstrating this through increased capital, new projects, and production expansion, contributing to the city’s socio-economic development.
Despite this impressive growth in FDI, many foreign investors remain unsatisfied with the level of connection to partners and suppliers in Hải Phòng. They noted that the establishment of R&D and technology transfer centers remains limited.
Mr. Ko Tae Yeon, President of the Korea Chamber of Commerce in Vietnam and General Director of Heesung Electronics Co., Ltd., said: “Overall, Hải Phòng’s direction for attracting FDI investors is very good so far. However, I think in the time ahead it needs to be more selective, especially focusing on high-tech companies, because they will be the future development of Hải Phòng.”
Selective Investment Attraction
Over recent years, Hải Phòng has placed special emphasis on promoting and attracting investments aligned with green and sustainable development strategies within its industrial parks and economic zones. At the same time, the city has remained open to feedback, listening and adjusting to meet investors’ needs.
The city also frequently initiates cooperation programs to exchange scientific and technological experience between top investors in the field to share and explore technology collaboration opportunities. Notably, the city has plans to organize trade connection events directly within industrial parks so that science and technology enterprises can have the opportunity to supply their products locally.
In addition to innovation and proactivity in investment promotion, Hải Phòng strives to prepare conditions for investors to begin investing immediately. The focus is accelerating the construction of modern infrastructure in industrial parks and economic zones.
Hải Phòng is also focusing strongly on attracting FDI, particularly targeting high-tech projects, especially semiconductors and electronic chips, and choosing reputable large-scale global investors. At the same time, the locality continues to create the most favorable conditions, with the fastest procedures for investors, and strengthens linkage between foreign and Vietnamese enterprises so that domestic businesses can join global supply chains.
Mr. Lê Trung Kiên, Head of Hải Phòng Economic Zone Management Board, said: “Hải Phòng will continue to improve the business investment environment, creating all favorable conditions for investors to implement projects in the area. Moving into 2025, Hải Phòng calls on businesses to continue to accompany the city, develop production and business, create more new products, and generate employment for workers. At the same time, pay attention to ensuring worker welfare, coordinate well with local authorities in social welfare activities, and contribute to the development of education and human resource training.”