A series of projects with a total investment of over USD 3.5 billion have just “poured” into Hai Phong City in the first days of the year, highlighting the city’s growing investment appeal.
A Steady Flow of Good News
Among the five domestic projects licensed for investment in Hai Phong, mainly in the fields of industrial real estate and urban areas, the most notable is the Trang Cat Urban and Service Area Project, developed by Trang Cat Urban Development Co., Ltd. The project will increase its capital by VND 62,746 billion (totaling VND 69,087 billion). Initially approved by the Hai Phong People’s Committee in 2010, the project covers an area of 584.94 hectares in Trang Cat ward, Hai An district, within the Dinh Vu - Cat Hai Economic Zone.
Additionally, four new industrial park infrastructure projects were licensed, including: the Trang Due 3 Industrial Park project, covering 652.73 hectares in An Lao district, with an investment of over VND 8,000 billion, developed by Saigon - Hai Phong Industrial Park Corporation.
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The Vinh Quang Industrial Park infrastructure development project (phase 1), developed by IDICO Vinh Quang Corporation, covers 226.01 hectares in Vinh Bao district, with total investment of over VND 3,550 billion.
The Nam Trang Cat Industrial Park infrastructure development project, developed by Vinhomes Industrial Park Investment Corporation, covers 200.39 hectares in Trang Cat ward, Hai An district, with a total investment of over VND 2,252 billion.
In Hong Bang district, Hai Phong International Industrial Park Corporation registered the Nomura Industrial Park infrastructure development project (phase 2), covering 197 hectares, with a total investment of over VND 2,782 billion.
Alongside domestic projects, Hai Phong also awarded investment certificates to six FDI projects from Japan, Hong Kong, Korea, and the U.S., with new and additional capital totaling over USD 125 million.
Among them, a new project to produce auto parts by Trakmotive Global Industrial Inc (USA) in Nam Dinh Vu Industrial Park has a total investment of USD 60 million, focusing on manufacturing and distributing automotive components such as driveshafts and wheel axles.
Hogetsu Vietnam Co., Ltd. received a new investment certificate for a USD 12.4 million project to produce agricultural and forestry machinery in Nam Dinh Vu Industrial Park (zone 2). Ascent Vietnam Co., Ltd. has a USD 12.5 million project to produce and process food and beverage ingredients in DEEP C 2B Industrial Park. Hanmiflexible Vina Co., Ltd. will produce electronic components for home appliances with a USD 10 million project. Great Eagle Co., Ltd. will manufacture and assemble electronic components in Nam Cau Kien Industrial Park (2,650 tons/year, USD 10 million). Pourin Vietnam Specialty Welding Manufacturing Co., Ltd. has increased investment in its boiler manufacturing project in Nam Dinh Vu Industrial Park (zone 1) by USD 17.75 million.
Currently, Hai Phong ranks among the country’s top localities for foreign investment attraction, with over 1,000 direct investment projects from 42 countries and territories, totaling USD 33.6 billion. There are also 231 domestic investment projects totaling VND 13.7 billion, mainly in manufacturing and processing in the city’s industrial parks and economic zones.
Mr. Le Trung Kien, Head of the Hai Phong Economic Zone Management Board, said: “Hai Phong is among the top provinces and cities for FDI attraction nationwide. So far, there are over 1,000 FDI projects from 42 countries and territories in the city, with total investment of USD 33.6 billion, contributing up to 86% of the city’s total export value.”
Investment in the Dinh Vu - Cat Hai Economic Zone alone reached USD 22.9 billion, accounting for over 80% of the city’s total foreign investment. The current occupancy rate of the industrial parks is 64.3%, and the average investment per hectare in Hai Phong is about USD 12 million—three times the national average of USD 4 million/ha.
The continuous arrival of FDI enterprises in Hai Phong demonstrates the locality’s strong appeal. These achievements also reinforce the city’s confidence in reaching the target of having the FDI economic sector contribute 35% of Hai Phong’s GRDP by 2025.
Reforms to Attract Investment
In recent years, Hai Phong has proactively reformed its policies and created an open-door environment to welcome top domestic and international investors to establish operations in the city.
Hai Phong has prepared conditions for enterprises to invest immediately, focusing on accelerating modern infrastructure construction in industrial parks and economic zones.
Mr. Nguyen Van Tung, Chairman of the Hai Phong People’s Committee, stated: “Foreign investment capital is an important part of the city’s total social investment. FDI enterprises are a crucial driver of the city’s socio-economic development. Hai Phong’s leaders always consider foreign investors as both partners and friends—honorary citizens of the city.”
Beyond attracting substantial investment in the first month of the year, the city also established the Southern Coastal Economic Zone of Hai Phong, covering 20,000 hectares. This includes about 2,909 hectares of reclaimed land, envisioned as a multi-sector economic zone with international stature, focusing on high-tech industries, modern logistics services, smart urban areas, eco-tourism, and a pilot free trade zone. This will be a new economic growth driver and a foundation for Hai Phong to assert its position as a maritime economic hub, a center for international logistics services, and an important growth pole in the region and nationwide.
The creation of the Southern Coastal Economic Zone in Hai Phong will also provide a place for the city to pilot new policies and create an open, favorable investment environment, attracting domestic and foreign resources to realize its development goals and create strong momentum for the port city’s growth in the coming period.