Hai Phong: Increasing investment attraction

Asserting position

With a favorable geographical location, synchronous transport infrastructure and open investment attraction policies, Hai Phong has been affirming its position as one of the most attractive investment destinations in Vietnam, especially in the field of attracting foreign direct investment (FDI). For many consecutive years, the city has been continuously in the group of leading provinces and cities nationwide in attracting FDI.

For two consecutive years (2023 - 2024), Hai Phong ranked second nationwide in attracting FDI capital. In the first quarter of 2025, the total foreign investment capital attraction in the city reached 372.03 million USD, an increase of 46.84% over the same period, reaching 8.27% of the annual plan. Hai Phong has 1,063 valid FDI projects with a total registered capital of 34.62 billion USD from investors from 39 countries and territories. Outstanding results in attracting investment have become a key driving force for the overall socio -economic development of the city.

In recent years, Hai Phong's economy has maintained a high growth rate, and its economic scale has consistently maintained the second position in the Red River Delta, after the capital Hanoi . The scale in 2024 is 5.16 times that of 2010, 3.4 times that of 2015 and 2.34 times that of 2020, Hai Phong has risen to be in the top 5 localities with the largest GRDP scale in the country, along with Ho Chi Minh City, Hanoi, Binh Duong and Dong Nai - affirming the city's role as an economic locomotive for the economic development of the whole country.

For two consecutive years (2023 - 2024), Hai Phong ranked second nationwide in attracting FDI capital.

In addition, the city's economic structure continues to shift in line with the established direction of modernization and urbanization. This shift is reflected in the proportion of GRDP of sectors such as agriculture, forestry and fishery decreasing to 3.15% in 2024; the proportion of GRDP of industry - construction and service sectors increasing from 84.81% in 2003 to 91.6% in 2024. Industry is developing strongly, shifting towards modernization.

The economic structure by sector has shifted positively, reducing the proportion of the state economy, increasing the private economy and the foreign-invested sector in GRDP. Accordingly, the investment capital of the non-state sector and foreign investment in the period of 2021 - 2025 reached 845.54 trillion VND, accounting for 86.3% of the total investment capital implemented in the area. This not only reflects the dynamism of the non-state economic sector but also shows that Hai Phong's investment environment is increasingly attractive and transparent.

In particular, for 4 consecutive years (2021-2024), the state budget revenue in the area exceeded 100,000 billion VND, ranking among the top in the country, being an important resource for infrastructure development investment, implementing social security policies, and improving people's lives.

Electric car production line at Vinfast Hai Phong Factory.

After 16 years of being approved by the Prime Minister to establish the first Economic Zone of Hai Phong (Dinh Vu - Cat Hai Economic Zone), at the end of 2024, Hai Phong City was approved to establish the second Economic Zone, the Southern Hai Phong Coastal Economic Zone with a scale of 20,000 hectares. This will be a new growth driver, developing according to the green - smart - comprehensive model, elevating Hai Phong to become the leading marine economic center of the country.

"Separate path" attracts investment

To achieve outstanding results in attracting investment, Hai Phong has chosen its own "separate path" with a long-term vision. When harmoniously combining the maximization of natural advantages and geographical location with dynamism, creativity, and determination in thinking and action; systematic investment in infrastructure; perseverance with the goal of quality and sustainability; and most importantly, the strong commitment from the city's leaders in accompanying and supporting businesses.

According to Director of the Department of Finance Nguyen Ngoc Tu, Hai Phong City has been affirming its position as an important growth pole of the country with breakthrough and sustainable achievements. Hai Phong City considers administrative procedure reform as one of the top priorities, a breakthrough step to create an environment and open corridors in attracting investment, supporting investors and businesses to stabilize production and business. With the spirit of "A creative, serving government, always standing side by side - accompanying - effectively supporting the business community", the city's leaders regularly organize meetings and dialogues with businesses and investors to listen, grasp and promptly direct the removal of difficulties and obstacles in the investment and business process in the locality; establish specialized working groups to thoroughly handle bottlenecks in project implementation; direct localities to closely coordinate with investors, speed up site clearance for projects using land, create maximum conditions for projects to be implemented soon.

Hai Phong has created great attraction for FDI thanks to many practical, focused and effective forms of investment promotion.

In the process of promoting investment attraction, the City always focuses on innovation in investment promotion methods such as: Promoting investment on-site, abroad and cooperating in investment promotion with provinces and cities in key economic zones, all regions and areas across the country to mobilize maximum investment resources. On the other hand, the City always adheres to the viewpoint of not trading the environment for economic growth, prioritizing the selection of projects using high technology, with high added value, modern management, environmentally friendly, and having positive spillover effects. In the process of appraising investment projects, resolutely rejecting projects that are at risk of causing environmental pollution, using outdated technology and potentially affecting national security and defense.

In addition, Hai Phong City has been focusing resources on expanding economic space, creating a superior foundation with the Southern Coastal Economic Zone of 20,000 hectares, orienting the development of a green, ecological, modern economic zone model, prioritizing the attraction of high-tech industries, renewable energy, and smart logistics. At the same time, the City continues to expand and complete the infrastructure of existing industrial parks such as Trang Due, Deep C, VSIP, Nam Dinh Vu, Nam Cau Kien and develop new industrial parks; speed up the procedures for implementing terminals No. 7 and No. 8 of the Container Port Area in Lach Huyen; expand and upgrade Cat Bi International Airport; actively coordinate with relevant ministries and localities to soon deploy the Lao Cai - Hanoi - Hai Phong railway line to continue to create momentum for the development of services - logistics, creating favorable conditions for investors with investment and business activities in the City.

At the same time, the city focuses on developing social housing and workers' housing to ensure social security, attract and retain workers, and create a competitive advantage in human resources. At the end of 2023, the Hai Phong City Party Committee issued Resolution No. 09 on developing social housing in the city by 2030. Accordingly, the city's leaders directed the study and proposal of specific policies on finance and investment to promote the development of social housing, striving to complete 15,400 social housing units in the 2022-2025 period and 18,100 units in the 2025-2030 period.

Hai Phong has a favorable geographical location and synchronous transport infrastructure.

Strive to maintain the top position

Currently, the pressure of competition to attract FDI among localities is increasingly fierce. In addition, in the context of attracting foreign investment being affected by the US Government's tax policy on goods from Vietnam. In order to continue to maintain its leading position, especially attracting high-tech, environmentally friendly projects, contributing to sustainable economic development, in the coming time, Hai Phong will continue to strengthen investment promotion activities to selectively attract FDI, focusing on high technology, aiming to attract multinational corporations with advanced technology; build a list of projects calling for strategic investment in areas such as information technology, artificial intelligence (AI), semiconductor industry, renewable energy and logistics.

The city will focus on completing and submitting to the Prime Minister the Project to establish a new generation free trade zone in Hai Phong city in 2025 to contribute to the Southern Economic Zone to create a large space for the socio-economic development of Hai Phong in the future. In particular, it will pay attention to and support the development of the private economy, including small and medium enterprises, to improve competitiveness and the ability to participate in the global value chain, effectively connect with FDI enterprises, increase the localization rate for better competitiveness, minimize risks from policy fluctuations, and create a synergistic strength to contribute to the era of development.

Along with that, focus on improving the quality of human resources through cooperation and development of educational and training institutions; continue to promote administrative procedure reform; promote digital transformation and green transformation in state management activities; support businesses in finding and expanding new export markets, taking advantage of Free Trade Agreements (FTAs).

During the 13 years since the Ministry of Home Affairs conducted the assessment and ranking of the administrative reform index, Hai Phong is the only locality that has always ranked at the top of the rankings. Notably, in 2024, Hai Phong ranked first in the country in 3 indexes: Administrative Reform Index (PAR INDEX 2024); People's Satisfaction Index with State Administrative Services (SIPAS) and Provincial Competitiveness Index (PCI). This is a clear demonstration of the city's efforts to reform administrative procedures, creating a healthy and transparent investment and business environment.

Thuy Linh

Source: https://baophapluat.vn/hai-phong-tang-suc-hap-dan-thu-hut-dau-tu-post549319.html