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Hai Phong attracts $290m in FDI
The northern city of Hai Phong attracted nearly US$290 million in foreign direct investment (FDI) with 25 new projects during the first 10 months of this year.
Meanwhile, 21 existing projects received approval to raise their capital levels, showing an increase in attracting FDI into the city.
Chairman of the city People's Committee Duong An Dien said they would continue to provide favourable conditions for investors while accelerating administrative procedures to ensure transparency and modernisation.
It would give priority to attracting Japanese investors in support industries, mechanical manufacturing, and electrical and high-tech sectors, under the build-operate-transfer model as well as research and development.
Dien said the city would also promote land clearance, building infrastructure and services for established industrial parks, while establishing new ones.
He added that the city promulgated a resolution for attracting FDI, especially in specialised industrial parks.
The municipal Planning and Investment Department said that the city had enhanced the implementation of projects such as the Hai Phong International Port, Cat Bi Airport, Ha Noi-Hai Phong Highway, Tien Lang International Airport and Dinh Vu-Cat Hai Industrial Zone.
The city chose locations to submit to Prime Minister Nguyen Tan Dung for approval to build a 1,000ha specialised IPs in Dinh Vu-Cat Hai IZ in the city's Hai An District for Japanese investors.
A representative from the Dinh Vu Industrial Zone said in the 10-month period, they attracted seven projects with total investment of $67 million. Three out of the total came from Japanese investors, totalling $40 million.
The city has already established parks with available infrastructure such as Dinh Vu, Trang Due and Viet Nam-Singapore Industrial Park (VSIP) which could be ready to receive FDI.
It carried out a study tour to learn development models from Japanese parks and groups such as Panasonic, Hitachi and Nikkei.
It also received several Japanese delegations seeking investment opportunities in the city.
Mai Xuan Hoa, Deputy Head of the municipal EZ Management Board said IPs and EZs should complete infrastructure work and improve service quality.
He said the board would accelerate administrative reform, improve public services and support investors.
vietnamnews
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