Haiphong attracts nearly US$290 million in FDI

The northern port city of Hai Phong has drawn an additional 25 foreign direct investment (FDI) projects worth about US$290 million in the past ten months of this year.
Another 21 projects have also registered to increase their existing capital to expand production.
The city now has 316 FDI projects with a total capital investment of more than US$4.89 billion.
Duong Anh Dien, Chairman of the Haiphong Municipal People’s Committee, said the city will continue to create favourable investment environment, reform administrative procedures and focus on attracting Japanese investors operating in support industry, manufacture, electronics, high-tech and research and development.
According to the Haiphong Department of Planning and Investment, the city is boosting the implementation of some large projects including Haiphong international seaport, upgrade Cat Bi international airport, Hanoi-Haiphong highway, Tien Lang international airport and Dinh Vu-Cat Hai economic zone.
A number of economic zones such as Dinh Vu, Trang Due and Vietnam Singapore Industrial Park (VSIP) are now calling for foreign investment projects.
Recently, a city’s delegation has paid a working visit to some key Japanese groups like Panasonic, Hitachi and Nikkei to learn from their experiences in developing and managing their industrial parks.
After the visit, Haiphong also received many Japanese businesses seeking business opportunities in the city.
However, poor transport infrastructure and slow progress of land clearance have prevented the city from attracting more FDI investment.