Hai Phong works to maintain top position in FDI attraction

The northern port city of Hai Phong is working to continue to improve its business and investment environment to attract large investors and maintain its leading position in investment attraction.

A foreign firm in Hai Phong (Photo: VNA)
A foreign firm in Hai Phong (Photo: VNA)

According to the Ministry of Planning and Investment, in 2021, Hai Phong drew over 5.1 billion USD in foreign direct investment (FDI), the highest among localities nationwide, up nearly 3.4 times compared to that in the same period last year.

Commenting on the business and investment environment of Hai Phong, Wu Yu Gan, Deputy General Director of Flat Vietnam, said that his firm has received effective and practical support from authorities of Hai Phong, a promising investment destination.

Le Trung Kien, head of the Hai Phong Economic Zone Management Board said that the bright spot in FDI attraction of Hai Phong is the success in luring big investors with high technologies, including LG. By the end of 2021, local industrial parks attracted 420 FDI projects worth nearly 19.1 billion USD.

In 2022, the city aims to lure 2.5-3 billion USD. Right in January, the board accepted a 35-million USD project from a Chinese investor.

At a recent conference to implement the Resolution on socio-economic, defence, security tasks of the city in 2022, Secretary of the municipal Party Committee Tran Luu Quang held that the city will face challenges in FDI attraction in the time to come.

In order to continue maintaining its FDI results, the city should roll out measures to attract human resources to work in IPs, he said, adding that in the 2021-2026 period, the city needs about 200,000 labourers from other localities.

Along with giving support to workers in health care services and housing, the city will speed up administrative reform to make it easier for investors during their investment process, while focusing on human resources training, he added.