A number of new industrial zones (IZs) will be established in the northern port city of Hai Phong in the near future, said head of the provincial management board of economic zones Pham Van Moi.

Illustrative image (Photo: Internet)

Specifically, the Ministry of Planning and Investment is verifying 752ha Xuan Cau – Cat Hai industrial infrastructure and non-tariff zone worth over 14.1 trillion VND (613 million USD), and Cau Cuu – An Lao industrial zone on a site of 93.27ha with a total investment of 845 billion VND (36.3 million USD), which will be submitted to the Prime Minister for approval.

The board is also choosing investors for projects such as An Hung – Dai Ban IZ in An Duong district, Giang Bien II IZ in Vinh Bao district; Kien Thuy, Sao Mai, Viet Phat and Tien Thanh IZs in Tien Lang district.

Hai Phong is now home to 13 IZs, nine of them are in the Dinh Vu – Cat Hai economic zone (EZ).

Last year, its IZs and EZs drew 58 new foreign-invested projects while about 100 others increased capital and share purchases. The total new and additional foreign direct investment (FDI) topped 1.43 billion USD, or 2.7 percent higher than the 2019 target.

As of the late December 2019, the IZs and EZs attracted 367 FDI projects valued at over 14.7 billion USD.

The province also lured more than 15.4 trillion VND in domestic investment last year, raising the total number of domestic projects to 162 with a combined investment of over 149.5 trillion VND (6.42 billion USD) by the end of 2019.

The board attributed the above positive performance to Vietnam’s economic development strategy and progress in administrative reform in the city

At present, over 130,000 labourers are working for IZs and EZs in Hai Phong, about 30 percent of them come from northern and north central provinces.