Hai Phong enhances investment appeal

To mobilize approximately VND 2.4 quadrillion in investment to support its growth targets for 2026 – 2030, Hai Phong has identified improving the investment and business environment as a key task.

Streamlining procedures and reducing investment costs

Hai Phong identifies that the improvement of the investment and business environment must be reflected in tangible results in every administrative process, every application handled and investors' actual experience, rather than remaining merely reform programs and plans.

In early 2026, the city required departments, sectors, units and local authorities to review, cut and simplify administrative procedures and eliminate unnecessary, overlapping or unclear investment and business conditions.

According to a report by the City People's Committee, by the end of September 2026, the city had reduced processing time for 1,888 of its 1,990 administrative procedures. Of these, 1,119 procedures saw processing time cut by at least 50%. The remaining 102 procedures were mainly those involving short processing periods and completed within the same day, or complex processes requiring coordination with multiple agencies and units outside the city.

In September 2026, the City People's Committee issued decisions announcing a list of administrative procedures with reduced processing time and approving internal processes under the "green-lane mechanism" within the authority of several departments, agencies and units. Accordingly, the processing time for procedures to approve investment policies and investors was reduced from 17 to eight working days.

These reform efforts are also reflected in performance indicators. In 2025, Hai Phong ranked first nationwide in the Public Administration Reform Index (PAR Index) and the Satisfaction Index of Public Administrative Services (SIPAS). It was also among the top five localities with outstanding economic governance performance under the Provincial Competitiveness Index (PCI). In 2026, the city ranked third nationwide in the Provincial Innovation Index (PII), maintaining its position among the leading localities for the fourth consecutive year.

Beyond figures and rankings, Hai Phong's efforts to improve its investment environment have also been recognized by experts and the business community.

According to Lai Ming, General Director of Navigatec New Materials Vietnam Co., Ltd., the attention of the city authorities, facilitation of investment licensing procedures and support throughout project implementation have strengthened the company's confidence.

PhD. Vo Tri Thanh, Director of the Institute for Brand and Competitive Strategy, said that cutting procedures, shortening processing time and reducing compliance costs make investment and business operations easier for enterprises, thereby enhancing Hai Phong's appeal and competitive advantage.

Hai Phong partners with businesses to create shared success

A favorable and transparent investment environment is not reflected solely in the initial stage of administrative procedures. For investors, support from local authorities throughout production and business operations, factory expansion, project adjustments and infrastructure completion is equally important and directly influences their decisions to continue investment.

Since the beginning of this year, city leaders have held working sessions with numerous businesses to assess their production and business activities and direct efforts to resolve difficulties. At the Minh Hoa Logistics Port project, invested in by Duc Duong Co., Ltd., following a working session with Secretary of the City Party Committee Le Ngoc Chau, Nguyen Dai Nang Ward focused on resolving obstacles related to site clearance.

The city's attention and support have helped many businesses develop and expand their production and business operations, making positive contributions to socio-economic growth. After 10 years of operation in Hai Phong, LG Innotek Vietnam Hai Phong has grown from the group's initial plan to establish a manufacturing center in Vietnam into a complex encompassing manufacturing, research and development, quality management, and customer and employee services. The company's total investment has now exceeded USD 2 billion, four times its initial investment.

According to Park Hong Keun, General Director of LG Innotek Vietnam Co., Ltd., the city's prompt support in handling administrative procedures, upgrading infrastructure and improving investment policies to make them more business-friendly has helped create a favorable environment in which the company can invest and develop with confidence.

Hai Phong's investment and business environment has also received positive assessments from workers and experts employed by businesses in the city. Praveen Durairajan Prakash, VinFast’s Director of Component Quality and Global Suppliers, said a locality's competitiveness is reflected not only in its ability to attract investment but also in its capacity to attract human resources and create conditions for them to build long-term careers there.

Alongside infrastructure, policies and business opportunities, safety, trust and a sense of welcome are also important factors. For him, the friendliness, sincerity and willingness to help shown by Hai Phong residents make international experts and their families feel welcome.

Clearly, existing advantages may bring investors to Hai Phong, but a favorable investment environment and the city's continued support are what help strengthen their confidence and encourage businesses to stay and expand their investments.

HA MINH