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Vietnam Today

Hai Phong secures six FDI projects in Q1

Released at: 19:57, 29/03/2017

Hai Phong secures six FDI projects in Q1

Hai Phong city. Photo: haiphong.gov.vn

New and additional capital in the city up 16% in first quarter.

by An Van

Hai Phong received six new foreign direct investment (FDI) projects in the first quarter with total registered investment of $57.34 million, while nine projects added $151.18 million in capital, up 15.98 per cent in total year-on-year. The city now has 491 valid FDI projects with total registered capital of nearly $14 billion.

The solid result was achieved thanks to the city making major resources available to create a breakthrough in its socioeconomic infrastructure, especially traffic infrastructure, with the city affirming its role as an important traffic hub and maritime gateway in Vietnam’s north.

Projects of strategic importance included those involving the Hai Phong international gateway port, Cat Bi International Airport, the Tan Vu - Lach Huyen Bridge, and Highway No.3 at the junction of Nguyen Binh Khiem, Dinh Vu, and Chua Ve, which is part of the National Road No.356 project.

At the recent regular meeting of the Hai Phong City People’s Committee, Chairman Nguyen Van Tung affirmed that “the efficiency of foreign investment projects maintains growth in key industries, especially major projects.”

LG Electronics Vietnam has contributed significantly to the growth of the city’s industry, producing TVs, mobile phones, and LCD screens for motor cars. Apparel producer the Regina Miracle Garment Co. employs more than 15,000 workers, or 60 per cent all workers in the industry in the city.

Hai Phong continues to improve its working practices and business and investment environment to help domestic and foreign investors feel secure, Mr. Tung added.

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