Vietnam’s Hai Phong secures $15.5bn in new investment commitments

The event, jointly organized by the Hai Phong People's Committee and the Vietnam Chamber of Commerce and Industry, featured major investment announcements spanning industrial zones, transportation infrastructure, and high-tech projects.

Le Tien Chau, secretary of the municipal Party Committee, and Le Ngoc Chau, chairman of the municipal administration, awarded investment licenses to key projects, including infrastructure development in Tan Trao, Ngu Phuc, Thuy Nguyen, Tran Duong-Hoa Binh, Tien Lang Airport, Binh Giang, Hoang Dieu, and Kim Thanh 2 industrial parks.

These projects, totaling nearly $10 billion, are aimed at developing high-tech industrial hubs, creating tens of thousands of jobs, and boosting regional socio-economic growth.

The northern port city also ratified investment for terminals No. 9-12 at Lach Huyen Port, valued at nearly $1 billion, to strengthen Hai Phong’s role as a key logistics center.

Besides, foreign direct investment projects in advanced technology, such as those from Shin-Etsu, and cooperation deals on urban and transport development are expected to bring in nearly $5 billion, marking deeper engagement with strategic partners.

Le Tien Chau affirmed Hai Phong’s commitment to continuing its dynamic, pioneering, and transparent approach to further enhance service quality for its citizens and business community.

Nguyen Van Thang, Minister of Finance, praised Hai Phong’s efforts to improve its investment climate and pledged close cooperation to help implement special financial mechanisms and policies, especially those related to a newly-approved pilot free trade zone.

State President Luong Cuong, who attended the conference, highlighted Hai Phong's decade-long streak of double-digit GRDP growth.

Cuong said that the law-making National Assembly’s Resolution 226, which was issued in late June this year and allows Hai Phong to pilot a free trade zone, has paved the way for the city’s rapid development.

He reiterated the Vietnamese government's commitment to a stable, transparent, and highly-predictable investment environment and encouraged businesses to seize the opportunities in Hai Phong.

In his closing remarks, Le Ngoc Chau emphasized Hai Phong’s dedication to building an investor-friendly administration.

“We will continue investing heavily in strategic transport infrastructure, simplify administrative procedures, and measure government performance by investor satisfaction,” he said.