With robust economic growth and a sound business climate, the northern port city of Hai Phong has remained popular among both domestic and foreign investors, said Chairman of the municipal People’s Committee Nguyen Van Tung.

At the meeting on January 13 (Photo: VNA)

At a meeting with more than 300 domestic and FDI firms on January 13, Tung briefed the participants on the city’s socio-economic achievements in 2019, with the gross regional domestic product (GRDP) expanding 16.68 percent, the highest ever.

State budget collection reached more than 89.68 trillion VND (3.87 billion USD), up 20.5 percent year on year, while Hai Phong port handled some 129.2 million tonnes of goods, increasing 18.51 percent from the previous year, he said.

Last year, a multitude of large corporations made big investments in the city, Of them, Vingroup splashed out hundreds of trillions of VND on entertainment, housing, urban areas and hospital projects, while BRG Group invested in the Do Son golf and villa project worth over 2.1 trillion VND, and the five-star Hilton hotel valued at over 1 trillion VND.

Tung stressed the projects will give the city a facelift.

During 2019, the city had more than 1,000 enterprises that contributed more than 1 billion VND to the State budget, 11 firms in the top 500 largest enterprises in Vietnam, and 13 in the top 500 largest private businesses in the country.

These firms also proactively engaged in a wide range of activities to support social welfare programmes in the locality, he added.