Hai Phong is a bright spot in attracting FDI in the top of the country. The Southern coastal economic zone of Hai Phong is oriented to develop into a multi-industry 3.0 ecological economic zone.
On the morning of June 4 in Hai Phong, the Hai Phong City Party Committee's Propaganda Department coordinated with the Economic Zone Management Board to organize a conference to provide information on attracting foreign direct investment (FDI) in the city in recent times and the project of the Southern Hai Phong Coastal Economic Zone .
The conference attracted the attention and participation of members of the Steering Committee for External Information Work of the city; reporters and press agencies of the city, representative offices, resident reporters of central press agencies, industry and local newspapers in Hai Phong to serve the propaganda work.
Hai Phong: Socio-economic development from foreign direct investment
Speaking at the opening of the Conference, Mr. Le Trung Kien, Member of the Standing Committee of the City Party Committee, Head of the Economic Zone Management Board, said thatattracting foreign direct investment associated with sustainable development has become an important goal in the socio-economic development of Hai Phong City.
Overview of the Conference providing information on FDI attraction in the city in recent times and the project of the Southern Coastal Economic Zone of Hai Phong
Up to now, FDI capital has been recognized as one of the “pillars” of the city’s economic growth. The role of FDI is clearly demonstrated through its contribution to important growth factors such as supplementing investment capital, boosting exports, transferring technology, developing human resources and creating jobs, generating budget revenue and promoting the city’s deep integration into the world economy.
Thanks to the important contribution of FDI, Hai Phong has achieved high economic growth rates over the past years and is known as a dynamic and innovative city, attracting the attention of the international community.
In recent times, Hai Phong City has realized the viewpoints of the Resolution. The City Party Committee, People's Council, People's Committee, departments, branches, and localities have taken drastic actions, with many creative ways and effectively implemented the Resolution of the 15th City Party Congress, and the investment capital structure has shifted strongly towards socialization.
Of which, non-state capital and FDI reached VND508,150 billion, 3.67 times higher than the previous term. Registered foreign direct investment capital reached USD9.41 billion, 1.23 times higher than the previous term.
Hai Phong has really built trust among investors in general and especially with foreign investors.
Hai Phong is considered a bright spot in attracting FDI and has always maintained its position in the top of the country. At the conference, Mr. Le Trung Kien, member of the Standing Committee of the City Party Committee, Head of the Economic Zone Management Board, said that in 2024, the city aims to attract 2 - 2.5 billion USD in FDI capital. As of April 20, 2024, Hai Phong attracted 253 million USD in FDI capital, reaching 12% of the annual plan.
Previously, in 2023, in terms of attracting foreign investment capital, Hai Phong reached the finish line 4 months early, with a total of 3.446 billion USD with 950 projects, ranking 2nd in the country. In 2022, it reached 2.083 billion USD, in 2021, the city reached 5.298 billion USD, leading the country in attracting FDI.
With the determination of the city government and the task of improving the investment environment, infrastructure conditions and other conditions, Hai Phong is constantly striving to achieve the FDI attraction plan as set out by the city.
Currently, Hai Phong City has attracted investment capital from many leading companies and corporations in Asia: LG Group - Korea with 6 projects with a total investment capital of over 7.24 billion USD; Bridgestone Group - Japan with a total investment capital of 1.22 billion USD; Regina Miracle Group - Hong Kong with a total investment capital of 1 billion USD; Pegatron Group - Taiwan with an investment capital of 800 million USD.
To continue effectively implementing the Resolution of the 16th Congress in the coming time, the Hai Phong City Party Committee has identified the following synchronous and key tasks:
Firstly, mobilizing maximum investment resources into the city; focusing on private capital sources and foreign direct investment, considering this an important resource to promote economic growth and create a sustainable source of budget contribution for the city.
Second , proactively attract selective, quality foreign direct investment in line with the city's economic restructuring orientation, meeting the requirements of sustainable development. By 2025, the FDI economic sector will contribute 35% to the city's GRDP.
Third , strengthen the implementation of consolidating and expanding friendly cooperation relations with other countries, ensuring the goals of political and friendly relations and always focusing on economic development interests, aiming to attract FDI, ODA, promote trade and import and export to contribute to the city's development.
Turning the southern coastal economic zone of Hai Phong into a bright spot in the northern economy
Also at the Conference, the Hai Phong City Party Committee's Propaganda Department coordinated with the Economic Zone Management Board to inform about the Project to establish the Southern Hai Phong Coastal Economic Zone.
Hai Phong has determined that the goal of building the Southern Coastal Economic Zone of Hai Phong into a 3.0 generation, multi-industry eco-economic zone; focusing on high-tech industry, modern logistics; a hub of Hai Phong participating in regional and global value and supply chains; paying attention to preserving cultural values and strengthening national defense and security. By 2030, it will become a key driving force of Hai Phong City's economy.
According to the assessment of the Hai Phong Economic Zone Management Board, when the Southern Hai Phong Coastal Economic Zone is formed and put into operation, this will be an important "link" in forming a chain of coastal economic zones, making the most of the development space of the Dinh Vu - Cat Hai Economic Zone.
Mr. Le Trung Kien, Head of Hai Phong Economic Zone Management Board, said that the Southern Hai Phong Coastal Economic Zone will have an area of 20,000 hectares, along the coastal highway, Van Uc River area, Nam Do Son port and logistics and Tien Lang airport.
Mr. Le Trung Kien, Member of the Standing Committee of the City Party Committee, Head of the Management Board of the Economic Development Zone spoke at the Conference.
This economic zone will develop according to an ecological model, focusing on high-tech industry, modern logistics and be the hub of Hai Phong participating in the regional and global value and supply chains and following the roadmap for establishing the economic zone in 2024 - 2025.
From 2026 to 2030, relevant agencies will develop and submit for approval a master plan for the construction of economic zones, invest in the construction of infrastructure and functional areas, and attract secondary projects.
In the Southern Hai Phong Economic Zone, there will be industrial parks Tien Lang 1, Tien Lang 2, Tan Trao, Ngu Phuc, Tran Duong-Hoa Binh, and Tien Lang airport. Hai Phong City aims to make the Southern Hai Phong Coastal Economic Zone a key driving force of the local economy by 2030; at the same time, contributing to strengthening national defense and security.
The formation of the Southern Hai Phong Economic Zone is based on scientific research and evaluation. Specifically, this economic zone is part of the economic zone development plan in Hai Phong for the period 2021-2030.
The infrastructure system of this area is synchronous and modern, including: Lach Huyen International Gateway Port, Nam Do Son International Transit Port, Cat Bi International Airport, Tien Lang Airport as a backup for Noi Bai Airport.
This economic zone is also located in the regional and international economic corridor axis including the coastal economic corridor; the Kunming - Lao Cai - Hanoi - Hai Phong - Quang Ninh economic corridor; in which, the Lao Cai - Hanoi - Hai Phong - Quang Ninh railway has a length of 392 km, a speed of 160 km/h, a capacity of 10 million tons of goods/year, a total capital of 100,000 billion VND (expected to start construction in 2025); the Nanning - Lang Son - Hanoi - Hai Phong - Quang Ninh economic corridor.
"Currently, this economic zone has investors researching and planning to invest a total capital of about 2.5 billion USD. At the same time, Hai Phong City has also signed a Memorandum of Understanding with the Port of Los Angeles, the Port of New York and the Port of New Jersey on developing a complex of seaports, airports, urban areas, industry, energy and logistics with a scale of 5-10 billion USD," said Mr. Le Trung Kien.
Experts assess that this economic zone will make good use of the development potential of Dinh Vu - Cat Hai Economic Zone, one of the most successful economic zones in the country with a very high investment rate, averaging 12 million USD/ha, with Trang Due Industrial Park alone reaching 37 million USD/ha.According to the Hai Phong Economic Zone Management Board, it is expected that by 2030, the capacity of the Southern Hai Phong Economic Zone will be equivalent to 80% of the capacity of the Dinh Vu - Cat Hai Economic Zone in 2023.
In addition, experts also commented that the implementation process of the Southern Hai Phong Coastal Economic Zone will face many difficulties when affecting many issues, such as: Site clearance, resettlement, change in employment structure...
Therefore, the City Party Committee's Propaganda Department affirmed that there needs to be coordination among all levels, sectors, localities, and units to synchronously implement solutions. In particular, the responsibility of the members of the Steering Committee for External Information Work, reporters, correspondents, social opinion collaborators, and the city-wide Propaganda system is to effectively grasp public opinion, provide information, and promptly answer people's questions to create high consensus among all people in implementation.
At the same time, the Propaganda Department of the City Party Committee also emphasized that the construction of the Southern Coastal Economic Zone of Hai Phong is to realize the aspiration to develop the city in accordance with the spirit of Resolution 45 of the Politburo and Resolution of the 16th Congress of the City Party Committee. Strive to become a modern industrial city by 2025; by 2030, to become a modern, civilized, and sustainable industrial city of the Southeast Asian region.
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