Hai Phong expands economic space, develops industrial parks
The 3rd meeting of the APEC Business Advisory Council (ABAC III) brought about a great opportunity for Hai Phong city to attract additional investment from major domestic and multinational corporations.
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Speaking at the Hai Phong Investment Promotion Conference, part of ABAC III agenda, on July 15, Chairman of the city People's Committee Le Ngoc Chau emphasized that Hai Phong holds outstanding advantages as the only locality in Vietnam to have sustained double-digit growth for 10 consecutive years and one of the region’s top investment destinations with over 1,900 foreign direct investment (FDI) projects from 44 countries and territories, totaling more than 48 billion USD, accounting for nearly 10% of the country's cumulative FDI.
Notably, in the first six months of 2025 alone, the total capital of newly-approved projects in Hai Phong exceeded 200 trillion VND.
These figures reflect the strong confidence of both domestic and international business communities in Hai Phong’s development prospects.
At the Investment Promotion Conference, themed “Hai Phong – A strategic gateway to the new era”, the city handed over investment registration certificates for 32 projects and seven memoranda of understanding (MoUs) on investment cooperation worth over 15.6 billion USD.
Among them are infrastructure development projects for Tan Trao, Ngu Phuc, Thuy Nguyen, Tran Duong – Hoa Binh, Tien Lang Airport, Binh Giang, Hoang Dieu, and Kim Thanh 2 industrial parks, along with associated sub-projects. These efforts, with a combined investment of nearly 10 billion USD, are expected to form modern high-tech industrial complexes, generate tens of thousands of jobs, expand industrial space, accelerate urbanization, and spur socio-economic growth in surrounding areas.
Meanwhile, the project to build terminals No. 9, 10, 11, and 12 at Lach Huyen Port, worth nearly 1 billion USD, will boost cargo handling capacity and affirm Hai Phong’s status as a leading logistics hub in the region.
High-tech FDI projects such as ShinEtsu, along with the MoUs for critical transportation and urban development initiatives worth nearly 5 billion USD, signal a shift toward high-value investment and open up new opportunities for deeper, more strategic partnerships with Hai Phong.
“I highly appreciate Hai Phong’s investment promotion efforts, including meetings with long-term investors to listen to and address their difficulties in investment,” Said Chairman of the Korea Chamber of Business in Vietnam Ko Tae Yeon.
Tran Thi To Loan, Deputy General Director of Sao Do Group, investor of Nam Dinh Vu industrial park, noted that the National Assembly had recently passed a resolution allowing Hai Phong to pilot several special mechanisms and policies for its development, including the establishment of a free trade zone with exceptional incentives.
“This not only extends corporate income tax incentives but also simplifies procedures for personal income tax, investment licensing, and labor permits within industrial parks. These are of deep significance to investors making investment decisions in Hai Phong,” said Loan.
With aspirations to attract more major investors from both inside and outside Vietnam, Deputy Chairman of the city People's Committee Tran Van Quan affirmed the city’s commitment to listening and accompanying investors.
The city is offering the most favorable conditions through specific mechanisms and policies within economic zones, industrial parks, and the free trade zone; maintaining a transparent and stable business environment; and continuously improving workforce quality to meet investors’ needs, all in an effort to deepen integration into the global value chain and contribute to the city’s and the country’s sustainable development, according to Quan.
Hai Phong has 32 industrial parks that are almost fully occupied. Of these, East Hai Phong is home to 14 industrial parks, and West Hai Phong has 18. In addition, the Southern Coastal Economic Zone, covering about 20,000 ha, has just been established to maximize the city’s strategic international gateway location. The zone is set to become a foundation for the development of industry and port services, and open up new growth space and momentum for the port city in the near future.
AN PHUC