On December 5, the Hai Phong Economic Zone Management Board, in coordination with the US Embassy in Vietnam and the US Customs and Border Protection (US CBP), organized a workshop on “Capacity Building in Establishing Free Trade Zones” in Hai Phong City.
Head of Hai Phong Economic Zone Management Board, Mr. Le Trung Kien said: This is a follow-up activity to the success of the city's working delegation in the US at the end of November. The working trip has opened up prospects and opportunities for cooperation between Hai Phong and potential partners from the US.
Speaking at the workshop, Mr. Kully Nelson, Commercial Attaché of the US Embassy in Vietnam, emphasized: The US and Vietnam have upgraded their relationship to a Comprehensive Strategic Partnership for peace , cooperation and sustainable development. This event also demonstrates the strategic relationship between the two countries.
Through this, the US Embassy and US CBP experts continue to share practical experiences and management methods of free trade zones and duty-free zones with authorities in Hai Phong.
In addition to introducing the history of successful free trade zones in the US, US CBP experts also pointed out the methods of operation, supervision, management of goods, production, import and export and the responsibilities of relevant parties in current US free trade zones.
According to Mr. Le Trung Kien, Head of Hai Phong Economic Zone Management Board, free trade zones are one of the most attractive development and investment attraction models that have been applied and implemented effectively in many countries. This form aims to maximize the attraction of investment resources, develop trade and technology, and is very suitable for the characteristics of Hai Phong.
These models are mainly applied in localities and territories with potential, development advantages, and favorable geo-economic positions associated with seaports and international airports, which are hubs for trade - cooperation and integration and play a leading role in regional, national and international economic development.
Hai Phong is urgently preparing to build a new economic zone in the south of the city, on an area of over 20,000 hectares following the model of an ecological economic zone, sustainable development integrated with circular economic activities, applying many outstanding preferential policies associated with developing a free trade zone to welcome investors from the US and other advanced countries in the world.
Along with that, Hai Phong is accelerating the progress of implementing the Xuan Cau Industrial Park and Duty Free Zone in the Lach Huyen International Gateway Port area with an area of 752 hectares and expanding 15 new industrial parks with a total area of over 6,400 hectares.
Referencing and absorbing experience in building and developing the model of free trade zones and duty-free zones from the US is the premise for building the Southern Hai Phong Economic Zone, Xuan Cau Industrial and Duty-free Zone - an important strategic task, a boost for the development of the port city in the coming period.
By the end of November 2023, Hai Phong City had a total of 904 foreign investment projects with a total investment capital of nearly 30 billion USD. Of which, in industrial parks and economic zones, there were 520 projects with a total capital of nearly 26 billion USD.
In the first 11 months of 2023 alone, Hai Phong achieved a record in attracting FDI capital with 3.2 billion USD and is one of the leading localities in the country in attracting FDI capital.
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