Vietnam’s Hai Phong targets 4 key markets in FDI attraction drive

The office of the municipal People's Committee on Thursday announced that vice-chairman Le Trung Kien had issued conclusions on the development of the city's 2027 investment promotion program, outlining a strategy focused on four key markets.

4 priority markets for investment promotion

In developing the 2027 program, Kien called on relevant departments and agencies to closely follow the Ministry of Foreign Affairs' forecasts on international and regional developments, as well as emerging trends in international cooperation.

Investment promotion activities should also be aligned with the city’s socio-economic development priorities, particularly emerging industries and sectors with strong growth potential.

Japan, South Korea, China and Taiwan have been identified as the key markets for targeted investment promotion efforts.

In particular, Hai Phong intends to hold discussions with authorities and partners in Incheon, South Korea, to explore organizing an investment promotion and cooperation program in March or April 2027.

The event would coincide with the 30th anniversary of cooperation between the two localities.

The city also plans to step up efforts to attract investment into sectors where it has competitive advantages and considerable room for growth, including shipbuilding, logistics, seaports, high-tech industries, artificial intelligence (AI), robotics, trade, services and tourism.

Particular attention will be given to priority sectors within the free trade zone.

Another new direction is to explore opportunities to attract major corporations specializing in the development of large-scale shopping malls and premium outlet centers.

Hai Phong plans to proactively identify potential markets, partners and suitable investors, with the broader aim of drawing more international visitors to the city for shopping, sightseeing and other services.

Alongside efforts to secure new investment, city leaders have called for direct meetings and dialogue sessions with individual associations, business groups and foreign investors operating in Hai Phong during November and early December 2026 to address their difficulties and encourage them to maintain and expand their production and business activities.

Priority participants will include businesses from South Korea, Japan, China, Taiwan and Europe, as well as other major international partners.

FDI inflows exceed $3.8 billion in 10 months

Hai Phong attracted more than US$3.8 billion in FDI between January and October, representing a 69 percent year-on-year increase.

Domestic investment reached over VND115 trillion ($4.5 billion).

As of October, the city had nearly 1,900 active FDI projects with total registered capital exceeding $54 billion.

LG Innotek Vietnam Hai Phong is a notable example of the city's ability to retain existing investors and attract additional capital for business expansion.

After 10 years of operations, the company's total investment in Hai Phong had surpassed $2 billion, four times its initial investment.

As Hai Phong targets some VND2.4 quadrillion ($93.2 billion) in total investment mobilization during the 2026-30 period, retaining existing investors and creating favorable conditions for business expansion are considered just as important as attracting new projects.

Improving investment environment

To further improve its investment climate, the city has assigned the municipal Department of Science and Technology to study the integration of a section titled ‘Voice of Foreign Investors’ into the SMART Hai Phong software platform.

The proposed feature would provide a channel for foreign firms to submit feedback and recommendations, while enabling authorities to monitor the progress and outcomes of efforts to resolve their difficulties.

The city’s Department of Foreign Affairs has also been tasked with reviewing and proposing additional interpreters proficient in key languages, including English, Korean, Japanese and Chinese, to support diplomatic activities, investment promotion and dialogue with foreign enterprises.