Despite the complicated epidemic situation across Vietnam, FDI inflows into Hai Phong in 2021 have not been interrupted, many large factory construction projects in Hai Phong were continuously licensed and put into operation.
Infrastructure advantages
The outstanding advantage of Hai Phong compared to other localities is the best transport connection infrastructure in Vietnam. Having 5 types of transportation by sea, railway, air, road and inland waterway, Hai Phong plays an important role as one of the international gateways of Vietnam. This also allows foreign enterprises when investing in Hai Phong to have logistics costs reduced by at least 10% compared to international practice of 20%.
Currently, Hai Phong has 12 industrial parks in operation with an average occupancy rate of 62.5%, which are invested in a methodical and synchronous manner in terms of technical infrastructure and traffic infrastructure. Dinh Vu-Cat Hai Economic Zone with a total area of up to 22,540 ha including tariff and non-tariff zones, Industrial zones such as Dinh Vu, Trang Due, VSIP, Cat Hai, Lach Huyen… are all ready all conditions to attract investment.
Ready to welcome the wave of FDI investors and factory constructions in Hai Phong
In 2020, Hai Phong’s FDI attraction reached 1.5 billion USD, but in just 10 months of 2021, the city has attracted FDI reaching 2.72 billion USD, ranking third in Vietnam.
During the complicated development of the 4th wave of Covid -19 epidemic, Hai Phong still has many capital expansion projects worth tens of millions of USD such as: Hiltron Technologies Company’s project in VSIP increased capital by 33 ,8 million USD; Ohsung Vina Company in Trang Due I.P increased by 19 million USD; Tongwei Electronics Co., Ltd in An Duong I.P increased by 31 million USD, Shanghai Moons Electronics Company invested 18 million USD in VSIP …
At the end of August 2021, LG Group (Korea) spent an additional $1.4 billion into its “subsidiary” company, the LG Display Hai Phong project, bringing the total investment capital in Hai Phong to 4.65 billion USD, becoming the largest FDI project in this city.
In the period of 2021 – 2025, Hai Phong plans to build 15 additional new industrial parks, with a total area of over 6,200 ha, meeting the demands of investors to expand production and construct industrial factories. In which, Xuan Cau Industrial Park project with an area of 752ha, recently approved by the Prime Minister in early April 2021 is considered a good beginning for this plan of 15 new industrial zones. This is the premise for achieving Hai Phong’s goal of attracting 5 billion USD per year of FDI for the next 5 years.
With many years of experience as a factory construction general contractor, serving many large FDI investors from Japan, Korea, Italy…, having worked with the management board of industrial zones in Hai Phong and many other localities, DELCO not only provide design and construction solutions, but also advise and support investors in new procedures and regulations… to optimize the efficiency of investment projects in Vietnam.
Source of information: VOV e-newspaper, Hai Phong e-newspaper
