LG increases by 1 billion USD, foreign investment capital in Hai Phong jumps to 3.5 billion USD

Hai Phong City has just granted new investment certificates and increased capital for projects with a total capital of more than 1.8 billion USD, raising the total foreign investment capital by the end of November 2024 to 3.5 billion USD, equal to 140% of the annual plan.

LG increases by 1 billion USD, foreign investment capital in Hai Phong jumps to 3.5 billion USD

Hai Phong City has just granted new investment certificates and increased capital for projects with a total capital of more than 1.8 billion USD, raising the total foreign investment capital by the end of November 2024 to 3.5 billion USD, equal to 140% of the annual plan.

Among the projects with increased capital that have just been granted investment adjustment certificates by Hai Phong, there is the LG Group (Korea) Expansion Investment Project in Trang Due Industrial Park, adjusted to increase by 1 billion USD, bringing the total investment capital to 5.65 billion USD. Also in Trang Due Industrial Park, the project of investor Heesung (Korea) also increased its capital this time, with an additional capital of 125 million USD, bringing the total capital to 279 million USD.

At the DEEP C Industrial Park Complex, the Industrial Park Infrastructure Business Project increased its capital by 169 million USD, bringing the total capital to 286 million USD; the USI Group (Taiwan) project increased its capital from 215 million USD to 290 million USD (an increase of 75 million USD).

Along with that, the Moons' Industries project of Chinese investor in VSIP Industrial Park increased by 69 million USD; Vietnam Advance Film Material project (China) in DEEP C 2A Industrial Park increased by 60 million USD, bringing the total investment capital to 158 million USD; Jeil Logistics 1 project of Korean investor in Nam Dinh Vu Industrial Park increased capital by 21 million USD.

Regarding newly licensed projects, the project of the joint venture between Hai Phong Port Joint Stock Company and Terminal Investment Limited (TIL) and MSC Group (Switzerland) has a total investment capital of 156 million USD. The companies established a joint venture to exploit two international container terminals No. 3 and 4 of the Hai Phong International Gateway Port Project in Lach Huyen, with an annual cargo output of 1.1 million TEUs.

In addition, the project of Sembcorp Integrated Hub Hai Phong IV (Singapore) in DEEP C Industrial Park has a total investment of 56 million USD. The project of Smart Logistics Service Co., Ltd. in Hai Phong International Gateway Port Industrial Park has an investment of 20 million USD. The project of Hoda Strategic Holdings Private (China) has a total investment of 10 million USD in DEEP C Industrial Park. The project of DAP - Vinachem Joint Stock Company with an investment of 626 billion VND aims to invest in depth, improve the quality of phosphoric acid and produce MAP fertilizer with a scale of 60,000 tons/year.

The projects implemented in Hai Phong will contribute to bringing many new, modern, world-leading technological applications to industrial production, contributing to improving the skills of workers, forming research and development centers and generating budget revenue.

According to Mr. Le Trung Kien, Head of the Hai Phong Economic Zone Management Board, the city is committed to providing the best incentives for investors and is ready to prepare all favorable conditions in the investment environment. In the coming time, Hai Phong will develop the Southern Coastal Economic Zone with a scale of more than 20,000 hectares, oriented as a 3.0 generation, multi-industry ecological economic zone, focusing on high-tech industry, seaports, modern logistics and smart cities.

In particular, Hai Phong proposes to establish a free trade zone with many specific mechanisms and policies, promising to create a large, dynamic, attractive and potential development space for the City. From here, Hai Phong and other localities will form a chain of coastal economic zones, an important driving force in the economic and social development of the entire Red River Delta region.

According to the Hai Phong Economic Zone Management Board, from January 2021 to present, Hai Phong City's investment attraction has reached 14.5 billion USD, equal to 97% of the investment attraction plan for the 2021-2025 term, equal to 74% of the 1993-2020 period (19.6 billion USD), attracting an average of 3.6 billion USD/year. It is expected that by the end of 2024, the City will attract over 4.5 billion USD in foreign investment capital (equal to 180% of the annual plan).

Up to now, Hai Phong has attracted 1,000 foreign investment projects from 40 countries and territories, with a total capital of 32.2 billion USD, mainly focusing on the manufacturing and processing industry in industrial parks and Dinh Vu - Cat Hai Economic Zone. Hai Phong has become a stronghold of many large investors, deeply participating in the global value chain, notably LG Group, SK Group...

Source: https://baodautu.vn/lg-tang-them-1-ty-usd-von-dau-tu-nuoc-ngoai-vao-hai-phong-vot-len-35-ty-usd-d230229.html