Deputy Prime Minister Tran Hong Ha addresses the event (Photo: VNA)

The zone establishment decision was announced at a January 16 conference which also saw the presentation of investment registration certificates to 11 projects in local industrial and economic zones.

The Hai Phong Southern Coastal Economic Zone, located in the southeast of the city, covers 20,000 hectares, including 2,909 hectares of sea encroachments. It is designed as a multi-sector world-level economic zone, focusing on high-tech industry, modern logistics services, smart urban areas, eco-tourism, and a pilot free trade zone.

It is expected to become a new growth driver and provide a stepping stone for Hai Phong to affirm its position as a maritime economic hub, an international logistics centre, and an important growth engine for the region and the country at large.

By 2030, the zone is set to contribute 550 trillion VND (approximately 21.7 billion USD) to the state budget and generate 301,000 jobs.

In his address, Deputy Prime Minister Tran Hong Ha described the establishment of the Hai Phong Southern Coastal Economic Zone as a historic milestone for the city, generating new growth opportunities. The move aims to help transform Hai Phong into a modern, smart, and sustainable port city as in line with the Politburo’s Resolution No. 45-NQ/TW, dated January 24, 2019, on the building and development of Hai Phong through 2030 with a vision toward 2045.

Not only an economic zone, it also serves as a symbol of Hai Phong city’s aspiration to move forwards and a space for innovation, scientific and technological advancement, and sustainable development, Ha said.

He expressed his confidence that with strong support from central and local authorities and active participation of investors and businesses, the economic zone will quickly become operational and help elevate Hai Phong to a new height.

Chairman of the Hai Phong People’s Committee Nguyen Van Tung called for continued support from the Government, particularly in creating tailored mechanisms, policies, and incentives to attract investment.

He proposed ministries and central agencies accelerate the assessment and submission of a master plan for this zone for approval while assisting the city with investment attraction and project implementation. He also asked investors and businesses to join hands with the city to develop this economic zone.

In 2024, Hai Phong city achieved 11% growth in gross regional domestic product (GRDP), with the industrial sector rebounding strongly and posting a 15% increase in the industrial production index.

Le Trung Kien, head of the Hai Phong Economic Zone Authority, highlighted Hai Phong as one of Vietnam’s top destinations for foreign investment.

The city has attracted 1,000 foreign direct investment projects from 42 countries and territories, totalling 32.6 billion USD. Additionally, domestic investments amount to 231 projects worth 13.7 billion USD, primarily concentrated in manufacturing and processing industries.