Despite many difficulties, especially the devastation caused by storm No. 3, Hai Phong City has basically completed and exceeded the set targets for its main goals and tasks in 2024. In particular, FDI attraction is also a bright spot in Hai Phong's economic picture with total foreign direct investment (FDI) in 2024 estimated at 3.35 billion USD, an increase of 92.52% over the previous year.

According to the Hai Phong Economic Zone Management Board, the city is currently in the top 6 localities attracting the largest foreign investment capital in the country. By November 2024, the city had attracted 1,000 foreign direct investment projects with a capital of 32.2 billion USD, 228 domestic investment projects with a capital of 13.7 billion USD, mainly concentrated in the manufacturing and processing industry in industrial parks and Dinh Vu - Cat Hai economic zone.

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Hai Phong is in the top 6 localities attracting the largest foreign investment capital in the country. Photo: Trong Tung

By the end of 2023, the investment capital attraction efficiency of Dinh Vu - Cat Hai Economic Zone will reach 1.81 million USD/ha, the highest in the country and achieve the highest budget collection efficiency, with a state budget contribution rate of 11.82% since its establishment. At the same time, it also attracts the largest labor force (more than 185,000 people), with the highest income (average 11.5 million VND/person/month).

Dinh Vu - Cat Hai Economic Zone is a major growth driver, making an important contribution to the economic restructuring process and breakthrough development of Hai Phong.

There are many large investors here, deeply involved in the global value chain such as LG Group's projects (over 8.2 billion USD); VinFast automobile manufacturing complex (about 7.6 billion USD), Bridgestone factories (1.2 billion USD), Regina Miracle International (1 billion USD), Pegatron (nearly 900 million USD), SK (500 million USD)...

Following the success of Dinh Vu - Cat Hai Economic Zone, in order to create new development space, Hai Phong City has proposed to establish a coastal economic zone in the South of the city and has just been signed by Deputy Prime Minister Tran Hong Ha with a scale of 20,000 hectares.

Hai Phong City is oriented to develop the Southern Coastal Economic Zone into a 3.0 generation, multi-industry eco-economic zone, focusing on high-tech industry and modern logistics. By 2030, the Southern Coastal Economic Zone of Hai Phong will become a key driving force of the city's economy, equivalent to 80% of the capacity of the Dinh Vu - Cat Hai Economic Zone in 2023.

In addition, the Southern Hai Phong Coastal Economic Zone will play a particularly important role in connecting with neighboring economic zones, forming a chain of coastal economic zones, driving the development of the whole region and is expected to contribute VND 550,000 billion to the budget and create 301,000 jobs.

Trong Tung