Free trade zone to be new growth driver for Hai Phong
Hai Phong’s free trade zone covers a total area of 6,292 ha in three non-contiguous strategic locations.
The Hai Phong People’s Committee directed the city Economic Zone Authority to coordinate with the Foreign Investment Agency under the Ministry of Finance to organize a conference on investment potential and opportunities themed “Hai Phong’s free trade zone – destination of a new era” on December 11 at the city Convention and Performance Center.
The event brought together nearly 150 delegates from the Foreign Investment Agency, municipal departments and sectors, diplomatic missions, international business associations, economic experts, industrial park infrastructure developers and major domestic and foreign enterprises.
Speaking at the conference, Vice Chairman of the Hai Phong People’s Committee Le Trung Kien said this is the first free trade zone model in northern Vietnam, developed based on global best practices combined with the specific strengths and practical conditions of Hai Phong.
He said the free trade zone is expected to become a new growth pillar in the coming years, offering an open legal corridor that enables the most efficient circulation of goods and helps businesses address global supply chain challenges.
Instead of relying solely on tax incentives, Hai Phong commits to building an investment environment with streamlined administrative procedures and safeguards for investors’ interests through exceptional policies approved by the National Assembly and the city People’s Council.
Hai Phong has been working alongside businesses, proactively removing obstacles and creating an open, internationally compliant investment environment, aiming to attract 4 to 5 billion USD in investment annually.
The city also consistently welcomes high-quality investors to “write new success stories” and contribute to the strong development of both the city and the country.
With a focus on the free trade zone, the conference introduced its potential, planning and development orientation, clarifying outstanding incentives relating to taxation, land, administrative procedures and human resources.
It also provided a forum for direct dialogue among experts, investors and authorities to build a transparent, favorable and effective business environment.
Hai Phong’s free trade zone covers a total area of 6,292 ha in three non-contiguous strategic locations linked with Dinh Vu – Cat Hai and Southern Coastal Economic Zones of the city.
THANH THUY - HOANG PHUOC