In 2024, Hai Phong City will rank 2nd and Quang Ninh Province will rank 4th in the country in attracting foreign direct investment, continuing to affirm the great attraction of the two poles in the economic growth triangle of the North.
As of December 31, 2024, Hai Phong's foreign direct investment (FDI) attraction reached 4.94 billion USD (including adjusted capital increase), ranking second among provinces and cities nationwide. Thus, in 2024, FDI attraction of this locality increased by more than 34% over the same period and exceeded 145% of the annual plan.
Specifically, Hai Phong has 126 newly registered capital projects and 72 adjusted projects with an additional capital of more than 3.724 billion USD. To date, Hai Phong has 1,020 valid projects, with a total investment capital of 33.8 billion USD. The proportion of projects in the fields of high technology, processing, manufacturing, and logistics invested in industrial parks and economic zones in Hai Phong is over 77%. The fact that many foreign-invested enterprises continue to pour capital into Hai Phong shows the growing attraction of this city.
This was once again affirmed by the General Director of LG Display Vietnam Co., Ltd., Mr. Choi In Kwan, Hai Phong is an ideal city for businesses and a place with many excellent human resources with good infrastructure systems such as seaports and international airports.
Last year, Hai Phong focused on promoting key markets, researching and selecting in advance. This helped the city attract quality FDI capital. Many leading corporations in the world such as LG, Pegatron, USI, Bridgestone, etc. came to Hai Phong, bringing with them many satellite projects in the supply chain, forming linked chains.
In November 2024, the People's Committee of Hai Phong City granted investment registration certificates to 12 new and expanded projects in industrial parks in the city, with a total additional investment capital of 1.8 billion USD. Typically, the LG Display Vietnam Expansion Investment Project in Trang Due Industrial Park increased its investment capital from 4.65 billion USD to 5.65 billion USD (an increase of 1 billion USD). Or the project of investor Heesung (Korea) increased its capital from 154 million USD to 279 million USD...
Mr. Le Trung Kien, Head of Hai Phong Economic Zone Management Board (Heza) said: “Entering 2025, with the goal of attracting 4.5 billion USD, Heza will continue to promote investment promotion activities, focusing on attracting investment in industries and fields belonging to the 3 economic pillars identified as seaports, logistics, and high-tech industry. These fundamental solutions have been and are being implemented drastically by Hai Phong to maintain its strong attraction to investors.”
According to Mr. Kien, Hai Phong will develop the southern coastal economic zone. Along with that, deploy new industrial parks and ecological industrial parks. At the same time, strengthen digital transformation, complete the work of streamlining the organizational apparatus, improve the quality of management work, administrative reform, improve the investment environment so that the city continues to be a reliable destination for investors.
As for Quang Ninh, the processing and manufacturing industry is one of the new leading pillars. In 2024, this industry with key projects in the province's industrial parks and economic zones will continue to play the role of the main growth driver for Quang Ninh's socio-economic development. The proportion of the processing and manufacturing industry accounts for about 12.5% of the province's GRDP, and it is expected that by the end of 2025, this rate will be increased to 15%.
Thanks to effective investment promotion, in 2024, investment attraction in the province has achieved remarkable results. Accumulated to December 2024, the province attracted 2.88 billion USD in FDI investment, ranking fourth in the country, right after Ho Chi Minh City. In industrial parks and economic zones alone, 2.64 billion USD was attracted (accounting for 92% of the province), of which 42 new investment projects were granted (including 35 FDI projects); 77 projects were adjusted (including 63 FDI projects), 33 projects adjusted to increase investment capital (including 29 FDI projects). In total, the province granted 43 new investment projects worth 2.07 billion USD, 31 projects increased capital worth 804.8 million USD.
In July 2024, Foxconn Group continued to implement 2 projects, including the Smart Entertainment Product Project in Song Khoai Industrial Park and the Smart System Project at DEEP C Quang Ninh II, with a total investment of more than 550 million USD, bringing the total investment capital of this group in Quang Ninh to more than 1 billion USD. These are all projects in the field of processing and manufacturing industry, in line with the goals and orientation of attracting investment in Quang Ninh.
“To achieve the above investment attraction results, we can clearly see the proactive and drastic efforts to overcome difficulties in site clearance, electricity and water supply, ensuring human resources, and meeting the needs of investors implementing projects in Quang Ninh province,” Mr. Pham Xuan Dai, Head of the Quang Ninh Economic Zone Management Board, pointed out the reasons for success.
Source: https://baodautu.vn/hai-phong-quang-ninh-thu-hut-782-ty-usd-von-fdi-d240692.html
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