Chairman of Hai Phong City People's Committee Le Ngoc Chau receives delegations from the Embassy of Belgium and the European Chamber of Commerce (EuroCham)

Outstanding development potential

Chairman of the Hai Phong People's Committee Le Ngoc Chau recently hosted meetings with the Ambassador of Belgium to Vietnam, the Ambassador of Singapore to Vietnam, the Chairman of the European Chamber of Commerce in Vietnam (EuroCham), and representatives of CTP Group during their working visits to Hai Phong City to foster cooperation, exchange investment opportunities and expand cooperation between Hai Phong with international partners. He said that, on July 1, 2025, Hai Phong City was established from the merger of former Hai Phong City and former Hai Duong Province. The new Hai Phong covers nearly 3,200 square kilometers, has a population of over 4.6 million, and ranks third nationwide in terms of gross regional domestic product (GRDP).

In the first half of 2025, Hai Phong maintained strong growth with a year-on-year GRDP growth of 11.2%. Cargo volume through its ports exceeded 86 million metric tons, up 12% compared to the same period last year. The city’s transportation and industrial infrastructure has been comprehensively and modernly developed, contributing to an increasingly attractive investment environment that continues to draw large-scale FDI projects. Hai Phong currently hosts 1,900 foreign-invested projects from 44 countries and territories, with total registered capital nearing US$50 billion. More than US$1.5 billion was attracted in the first half of 2025 alone.

He hoped that the city will continue to receive support from ambassadors, associations, and businesses, especially in key sectors such as high-tech industry, mechanical and automotive supporting industries, renewable energy, seaport logistics, and smart urban development, which are strengths of many countries and corporations. Chairman Le Ngoc Chau also emphasized the importance of partnering to train a high-quality workforce to serve FDI enterprises. The city pledges to support and provide the best conditions for investors in Hai Phong. Notably, with the National Assembly’s adoption of Resolution 226/NQ-QHXV on piloting specific mechanisms and policies for the development of Hai Phong, the city will have a truly attractive investment environment.

Creating a vast industrial development space

Under the Industrial Park Development Plan to 2030, Hai Phong City will have 46 industrial parks covering nearly 12,000 ha. This is a major leverage to transform Hai Phong into the industrial hub of northern Vietnam.

According to the Hai Phong Economic Zone Authority (HEZA), prior to the merger, both Hai Phong and Hai Duong were key industrial production centers in northern Vietnam and assigned high-tech industry as the main pillar of their economies. This has formed a complete “linkage chain”: Hai Phong focuses on high-tech industries, mechanical and automotive supporting industries, port and logistics industries while Hai Duong plays a satellite role in manufacturing, supplying labor, and expanding the land bank for industry. This synergy forms an integrated supply chain, helping reduce logistics costs, improve operational efficiency, and enhance the competitiveness of the northern key economic region. This area will become a magnet to attract big domestic and international corporations, especially those engaged in chips, semiconductors, and electronics.

A representative from the Hai Phong Department of Industry and Trade noted that, in order to become an industrial center of northern Vietnam and of entire Vietnam, supporting industries must be very developed. The city has therefore issued multiple resolutions and decisions on industrial development, including specific ones for supporting industry development to 2025, with a vision to 2030.

Hai Phong’s industrial production is based on the development of key industries such as electronics and information technology, high-tech industry, machinery and equipment manufacturing industry, and supporting industries serving these leading sectors. In manufacturing, the city is restructuring its industry by focusing on developing these pillars. In mechanical engineering and manufacturing, emphasis is placed on automobile, machinery, and equipment for the maritime economy. In electronics and IT, priorities are given to electronic and refrigeration products and high-tech applications.

Supporting industries for key sectors are expected to boost production value and strengthen Vietnam’s integration into global manufacturing networks and value chains. Hai Phong also aims to promote smart production and smart factory models, and prioritize emerging industries such as semiconductors, robotics, environmental technology, renewable energy, and new materials.

Hai Phong is currently home to about 42-43 automobile and motor vehicle manufacturers. Most produce auxiliary parts and components for the automotive industry. Notable manufacturers in the automobile sector include VinFast Automotive Manufacturing Complex, Bridgestone Tire Manufacturing Vietnam LLC, and Hoa Mai Auto Co., Ltd. Passenger cars and light-duty vehicles are being manufactured in the city.

Many FDI companies in industrial parks manufacture high-quality automotive components such as airbags, steering wheels, wiring harnesses, feeding system components, and speaker systems.

Some domestic companies also produce parts and components for truck manufacturers and assemblers, achieving localization rates of 30-45%.

In early 2025, several supporting industrial firms in Hai Phong received support, including LG Innotek Hai Phong and LG Display Vietnam. Local supporting industrial firms signed memoranda of understanding with FDI partners. For instance, Serveone (Vietnam) Co., Ltd signed agreements with Quang Thang Mechanics and Refrigeration Co., Ltd, LEANMAC Manufacturing and Services Joint Stock Company, and SKV Vietnam Supporting Industry Joint Stock Company.

Particularly, FDI firms in Nomura Industrial Park are manufacturing internationally certified supporting industrial products such as airbags, steering wheels, wiring harnesses, automotive feeding system components, and audio systems.

Notably, in the first months of 2025, Hai Phong’s development potential for supporting industries was further confirmed through a series of new investment projects. Trakmotive Global Industrial Inc. Invested US$60 million in an auto parts manufacturing plant with an annual capacity of 11,400 tons. Hanmiflexible Vina (South Korea) invested US$10 million to build an electronic component processing plant with a yearly output of 6,200 tons. Great Eagle Co., Ltd (Seychelles) spent US$10 million to construct an electronic component manufacturing facility with a yearly output of 2,650 tons.