Hai Phong enterprises quickly enter the market

Strong reform and openness

The Market Entry sub-index truthfully reflects enterprises’ attitudes toward appropriate authorities and the government in creating favorable conditions for businesses to participate in the market.

According to the 2024 PCI survey conducted by the Vietnam Chamber of Commerce and Industry, Hai Phong saw improvements in 7 out of 10 sub-indices of the PCI compared to 2023. Among them, the Market Entry sub-index stood out the most with 8.72 points, an increase of 1.58 points, ranking 3rd out of 63 provinces and cities, climbing 42 places.

Overall, Hai Phong’s Market Entry sub-index in 2024 made a strong breakthrough compared to 2020 and 2021, when 7 out of 8 criteria for conditional business licensing under sub-index were ranked low compared to the national average (positions 39–61).

To achieve this result, over the past years, the city created the most favorable conditions for businesses to quickly enter the market; strongly reformed and opened up in issuing conditional business licenses.

Specifically, to improve the PCI index for the 2022–2025 period, the city People’s Committee has implemented the “Connecting conditional business licensing procedures” model, closely linked to administrative procedure reform. The practical effectiveness of this model is that people and businesses can quickly access necessary procedures and documents, minimizing repeated submissions and revisions.

The clearest evidence is LG Group, with the largest investment capital in Hai Phong (more than 9.4 billion USD) to date. The group has 80 investment projects with about 35,000 regular employees in the city.

Choi In Gwan, General Director of LG Display Vietnam Company in Hai Phong, said that the firm’s expansion of investment and production activities stems from the city authorities leaving a strong impression on the FDI business community by implementing many friendly and open policies, closely accompanying enterprises.

Simplifying business registration procedures

Hai Phong will officially apply the “Succeed Together” model from October 1, 2025. This is the city’s newest model to accompany, support, and take care of investors and enterprises throughout the entire process, from business registration to production, improvement of product quality, and market expansion.

As planned, from now until 2026, the city will implement 73 specific tasks to overcome weaknesses, promote advantages, accelerate and make breakthroughs in strongly improving the investment and business environment, and increase PCI scores.

For the Market Entry sub-index alone, the city People’s Committee has set 10 specific tasks, such as promoting innovative communication and dialogue solutions to instill the perception that “business registration procedures are simple” among the business community. Grassroots tax offices will facilitate and guide newly established enterprises in issuing invoices within 10 working days from the date they are granted their initial business registration certificate, addressing the situation where enterprises have to wait 1–3 months to complete procedures and officially start operations.

In addition to the specific tasks set out, to effectively implement the Market Entry sub-index as well as other PCI sub-indices, in 2025 and 2026, the city aims to increase its total PCI score to 74 points or higher, maintain its position in the top 5 nationwide, and move toward comprehensive satisfaction of investors and enterprises when choosing Hai Phong as their destination.

In August 2025 alone, the city was estimated to have 941 newly registered enterprises. In total, during the first 8 months of 2025, the city had 5,071 newly registered enterprises (84.5% of the year’s plan), up 39.3%, with total registered capital of more than 162 trillion VND, 2.75 times higher than the same period in 2024.

HONG PHUC