Hai Phong issues investment certificates for 11 new projects in its industrial and economic zones. (Illustrative image: VNA)

Notable projects among them include a project worth 12.4 million USD by Hogetsu Vietnam Co. Ltd., and an 8 trillion VND (316.6 million USD) construction investment and infrastructure business in Trang Due 3 Industrial Park of Saigon - Hai Phong Industrial Park Joint Stock Company.

This achievement reflects not only timely policy reforms by local authorities but also the city's innovative mindset and distinctive governance approach.

According to Nguyen Van Tung, Chairman of the municipal People’s Committee, the city’s reformed policies and collaborative efforts with the central government, ministries, and relevant agencies have significantly enhanced the investment environment, making Hai Phong a magnet for the international business community.

Hai Phong is actively fostering international and regional partnerships. Through the development of industrial zones in collaboration with global partners, the city aims to position itself as a vital link between Vietnam and major markets such as China, Japan, and the Republic of Korea.

Additionally, Hai Phong is investing in public services, including healthcare, education, and transport, to improve living standards for workers and professionals, further boosting its appeal to investors.

Vincent, General Director of Exquisite Power Vietnam, said the company recently inaugurated a 20-million-USD production facility specialising in Lithium-Ion and Ni-MH batteries at Nam Dinh Vu Industrial Park. He praised the extensive support provided by local and national authorities, including tax incentives and guidance in areas such as fire safety, environmental impact assessments, and labour regulations.

The establishment of a new southern coastal economic zone, along with the approval of investment policy for four additional industrial parks, is expected to raise the total number of operational industrial zones in Hai Phong to 18. The two economic zones with a total area of about 42,540 ha will create momentum for Hai Phong to make further breakthroughs in attracting investment in the coming time.

Le Trung Kien, Head of the Hai Phong Economic Zone Authority (HEZA), noted that the southern coastal economic zone will capitalise on the coastal highway connecting Thanh Hoa and Quang Ninh provinces, elaborating that it will maximise land use and contribute to realising the city’s socio-economic development objectives.

The city is developing an economic zone with a seaport and industrial system in anticipation of the Kunming - Lao Cai - Hanoi - Hai Phong high-speed railway, which is expected to start construction this year, connecting Hai Phong with the northwestern and southwestern provinces of China.

This railway, coupled with key projects such as Nam (South) Do Son Port and Tien Lang Airport, will establish an integrated multimodal transport network, making the southern coastal economic zone a regional and international hub, linking southwest China to the sea and connecting Hai Phong to China.

Hai Phong remains one of Vietnam’s leading destinations for foreign investment. The city has attracted over 1,000 foreign direct investment (FDI) projects from 42 countries and territories, with a total capital of 32.6 billion USD. Additionally, it has secured 231 domestic investment projects worth 13.7 billion USD, predominantly focused on manufacturing and processing industries within the Dinh Vu – Cat Hai economic zone.