Construction of free trade zone in Hai Phong gets underway

Total investment estimated at $464mln.
Prime Minister Pham Minh Chinh (C) at the breaking ground ceremony. Photo: VGPPrime Minister Pham Minh Chinh (C) at the breaking ground ceremony. Photo: VGP

Construction of the Xuan Cau Industrial Park and Free Trade Zone in the northern port city of Hai Phong kicked off on May 13.

The project has total investment of VND11 trillion ($464 million).

On 752 ha, the project is fully designed with technical infrastructure, traffic links, public utilities, ancillary works for environmental protection and fire prevention, and other related services for customers.

It is expected to see its first phase completed in 2025, the second phase in 2030, and the third in 2033. Once operational, 40,000 - 50,000 jobs will be available.

It counts among projects for Hai Phong to realize its economic development strategy based on three pillars: seaport logistics, high-tech industry, and service - tourism.

Speaking at the breaking ground ceremony, Prime Minister Pham Minh Chinh said developing socio-economic infrastructure, especially roads, seaports, industrial parks, and non-tariff zones, is one of three strategic breakthroughs targeted by the Party and the State, which have issued a host of resolutions, directives, mechanisms, and policies to promote their development.