Hai Phong’s FDI attraction growth tops 140%

To date, Hai Phong has lured more than 1,000 FDI projects, valued at nearly 28 billion USD. (Photo: VNA)

The northern port city of Hai Phong reeled in more than 3 billion USD worth of foreign direct investment (FDI) in the past nine months, up over 140% year-on-year and exceeding the yearly plan by over 52%.

With these results, the city has kept its top position nationwide in terms of FDI attraction.

In September alone, the Hai Phong Economic Zone Authority (HEZA) granted investment registration certificates to new projects valued at nearly 1.4 billion USD in total. It also gave the green light to the Japanese-funded Kyocera Document Solutions Inc. to add 237.5 million USD to its machinery-equipment manufacturing project in VSIP Hai Phong.

Le Trung Kien, head of HEZA, attributed the sound growth to HEZA’s proactive promotion of the local business climate.

According to him, the city continues to attract selective investment, and actively cooperate with leading global conglomerates in sectors and industries prioritised by Vietnam. Hai Phong is devising its own mechanisms to promote modern technology projects with commitments to technology transfer, market expansion, supply chain and human resources development, helping domestic businesses participate more deeply in the global value chain.

To date, Hai Phong has lured more than 1,000 FDI projects, valued at nearly 28 billion USD./.