Support for businesses needed to achieve stable growth

Numerous challenges deed to be addressed

In the first nine months of 2026, Hai Phong's GRDP grew by 12.08%, the highest growth rate for the same period in the past six years. The city saw the establishment of 5,759 new businesses, equivalent to 76.8% of its annual target. To meet its goal of establishing 7,500 new businesses in 2026, another 1,741 need to be established.

Alongside encouraging new businesses to enter the market, the city faces growing demands to help existing enterprises sustain operations and expand production and business activities.

For supporting-industry enterprises, securing orders is a key factor in determining their ability to invest. A representative of HPTECH Supporting Industry Limited Company and SMV Aviation Industry Joint Stock Company said that businesses seeking to become suppliers to major corporations must first invest in equipment, human resources and management systems. However, such investment decisions depend on having sufficiently clear prospects for securing orders.

HPTECH has completed IATF 16949 certification to support its plans to manufacture automotive components, while SMV has obtained AS9100D certification and begun fulfilling its first orders for aviation components. To support further growth, the companies hope the city will establish channels to connect them with buyers, help them develop samples and undergo customer assessments, and strengthen their capabilities to meet customer requirements.

Meanwhile, Pha Rung Shipbuilding One Member Limited Company has recorded double-digit growth in both output and revenue over the past three years. In 2026, the company aims to fulfill its annual plan in October, two months ahead of schedule.

However, recruiting workers locally has become increasingly difficult, forcing the company to broaden its recruitment efforts to rural and mountainous areas. It hopes the city will support job-linked vocational training and develop affordable worker accommodation and rental housing to encourage employees to stay with the company. The business also seeks assistance in accessing capital to modernize equipment, improve productivity and enhance product quality.

Creating favorable conditions for business growth

The Hai Phong Business Association is developing a project to enhance competitiveness, attract investment and promote business development for the 2027–2030 period, with a vision to 2035.

The project is built on two pillars ‘competitive cost’ and ‘long-term trust’ and comprises seven programs, 12 policy recommendations and 12 initiatives that the association has committed to implementing itself.

The proposals focus on land-related costs and support for small and medium-sized enterprises in training, technology, production premises, credit and market access. Administrative reform should enable businesses to better anticipate investment timelines and costs.

The Hai Phong Business Association has pledged to conduct business confidence surveys every six months to assess how effectively enterprises benefit from support policies. It will also maintain a register of recommendations and report responses and outcomes to its members.

The Association has pledged to conduct business confidence surveys every six months to assess how effectively businesses benefit from support policies. Cooperation initiatives will focus on seaports and logistics; industry, mechanical engineering and supporting industries; and construction, building materials and infrastructure. These efforts will be complemented by training in business management, digital transformation and green standards.

Hai Phong News