In 2024, Hai Phong continues to attract foreign delegations, organizations, and businesses, enhancing its investment relations and reinforcing its status as a trusted destination for international investors. Recently, Hai Phong's Economic Zone Management Board held a meeting with the government of Gunma province and Japanese businesses. Japan ranks second in the number of projects and total investment among 42 foreign investors in Hai Phong, with 151 projects valued at 5.23 billion USD (20.4% of the city’s total FDI). The projects primarily focus on mechanical equipment, boilers, electrical machines, plastics, and rubber products. Gunma Governor Yamamoto Ichita highlighted the province’s industrial strengths and expressed hopes for deeper investment cooperation between Japan and Hai Phong.
Earlier in May, Hai Phong hosted a seminar with Taiwan's TEEMA (Electrical and Electronics Manufacturers’ Association) to discuss investment opportunities. With nearly 70 projects from Taiwan valued at nearly 2 billion USD, Taiwanese enterprises have contributed significantly to Hai Phong, with exports reaching nearly 2 billion USD in 2023. Despite global trends of declining investment due to restructuring in global trade, Hai Phong remains a top destination for FDI in Vietnam. By September 2024, the city’s industrial zones and economic zones attracted 53 projects with a total investment of 1.24 billion USD, of which 1.19 billion USD was FDI. As of June 2024, the city had already met its FDI target for the 2021-2025 period, with 12.56 billion USD in FDI out of the planned 12.5 billion USD.
Hai Phong’s strategic geographical location as a northern trade gateway with access to all five types of multimodal transport systems makes it highly attractive to foreign investors. The city has been focusing on industrial production linked to port operations and developing logistics infrastructure centered around its seaport. Additionally, Hai Phong has been improving its investment environment by streamlining administrative procedures and enhancing dialogue with businesses to address challenges and improve the city’s comparative advantages.Hai Phong remains committed to attracting high-quality investors like LG, Pegatron, USI, Bridgestone, and SK. Successful partnerships with large corporations often lead to additional investment from related businesses in the same industrial zones or nearby areas.
While Hai Phong remains an attractive investment hub, the global competition for investment is intensifying. The city has adapted its investment promotion strategies, focusing on building modern infrastructure in its industrial and economic zones. Notably, Hai Phong is accelerating the development of a southern coastal economic zone to leverage its highway, port, and airport infrastructure, connecting with surrounding areas. These strategic efforts are essential to maintaining Hai Phong's strong investment appeal and fostering long-term economic growth.