As of now, the cumulative total FDI in Hai Phong for the first 8 months of 2024 has reached $30.9 billion with 976 active projects, attracting major investors such as LG, Bridgestone, Regina Miracle, Pegatron, etc.
Hai Phong aims to attract $2.5 billion in FDI in 2024
In the first 8 months of 2024, Hai Phong’s total FDI reached 1.7 billion USD, ranking sixth in the country. This includes 75 new FDI projects with a total capital of 423.37 million USD, and 50 projects with capital adjustments, adding an additional 857.08 million USD. Furthermore, FDI through capital contributions, share purchases, and equity participation amounted to 420.09 million USD.
Meeting between Hai Phong city’s authorities and Shenzhen Holdings Company in Guangdong, China
With its existing potential, the city aims to attract FDI capital into Hai Phong in 2024, targeting a total of 2 to 2.5 billion USD. To achieve this goal, Hai Phong has proactively organized investment promotion activities and collaborated with major partners. Notably, Hai Phong has signed five new memorandums of understanding (MoUs) with key partners from South Korea and China, expanding opportunities to attract FDI and foster high-tech projects. These efforts promise to help the city maintain its position as a top investment destination in Vietnam, particularly in high-tech industries such as semiconductors, biotechnology, and automobile manufacturing.
New FDI projects in Hai Phong in 2024
As of now, Hai Phong has a total of 976 active FDI projects, with a cumulative investment capital of 30.9 billion USD, attracting many global corporations such as LG, Bridgestone, Pegatron, and others. Specifically, LG (South Korea) has invested 7.24 billion USD in Hai Phong, Bridgestone (Japan) has invested 1.22 billion USD, Regina Miracle from Hong Kong (China) has invested more than 1 billion USD, and Pegatron (Taiwan) has invested over 800 million USD. Other major investors include Nipro Pharma and Aeon from Japan, and Tongwei from China, etc.
LG currently has 6 investment projects for building factories in Hai Phong with a total capital of over 7.24 billion USD
In 2024, the city has attracted many new FDI projects by boosting investment promotion activities, engaging with businesses, and actively developing infrastructure in industrial zones and coastal economic zones. Specifically, Hai Phong city’s authorities have granted investment certificates to seven FDI projects from Chinese investors, worth 200 million USD. In addition, the DEEP C Industrial Park complex and CFL Holdings Limited have signed a memorandum of understanding to increase investment by an additional 100 million USD to expand their existing project in DEEP C Industrial Park, Hai Phong. At the same time, the Hai Phong Economic Zone Authority (HEZA) reached an agreement with Exquisite Power Vietnam Co., Ltd. to expand their battery assembly project for mobile phones and laptops in Nam Dinh Vu Industrial Park, with a supplementary investment of nearly 100 million USD. These actions have provided new momentum for Hai Phong’s economic development while reaffirming the city’s important role in attracting FDI nationwide.
