Hai Phong's outstanding achievements in economic development

Lach Huyen International Port - the departure and arrival point of international ships across the Pacific . Photo: Pham Dung

With an effective planning strategy, strong investment attraction and sustainable financial management, Hai Phong is currently among the top 5 localities with leading economic scale in the country, along with Ho Chi Minh City, Hanoi, Binh Duong and Dong Nai. The development directions of the City proposed at the City Party Congresses have been closely followed by the City Party Committee and Party committees at all levels, developing programs, plans and specialized resolutions to seriously and effectively implement them, in accordance with the actual situation of each unit and locality, and achieving many outstanding results in all aspects and fields.

Firstly, for 10 consecutive years (2015 - 2024), Hai Phong has maintained a double-digit economic growth rate, becoming the locality with the most impressive and stable economic growth rate in the country for a decade.

Second, in 2024, Hai Phong City will be in the Top 5 localities with the largest gross regional domestic product (GRDP) in the country (ranked 3rd), 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.

Third, for 3 consecutive years (2022 - 2024), the state budget revenue in the city has exceeded the 100,000 billion VND mark, which is an important resource for the city's socio-economic development. Total state budget revenue has grown continuously over the years, exceeding the central government's estimate for many years. In 2022, the state budget revenue in the city exceeded the 100,000 billion VND mark and has continued to maintain that result to date. The average state budget revenue in the city in the 2021-2025 period is estimated to increase by 7.06% per year, of which domestic revenue increases by 9.27% ​​per year.

Fourth, the economic structure has shifted positively, towards reducing the proportion of the state economy and increasing the private economy and the foreign-invested sector in GRDP.

Hai Phong has affirmed its position as one of the most attractive investment destinations in Vietnam. The city has attracted many large domestic corporations and enterprises (Vingroup, Sun Group, Geleximco...) to invest in key economic sectors, with many large projects with a total investment of more than 200,000 billion VND.

Hai Phong is the only locality to maintain double-digit GRDP growth for 10 consecutive years, with a growth rate of 11.01% in 2024, 1.55 times higher than the national average.

In terms of attracting foreign direct investment (FDI), for many consecutive years, the City has been among the leading provinces and cities in the country. Investment capital is strongly concentrated in high-tech industries, processing and manufacturing (especially in the fields of electronics, automobiles, machinery and equipment), seaport services and logistics, creating an important driving force for economic growth and restructuring.

For 4 consecutive years (2021-2024), Hai Phong ranked in the Top 5 nationwide in attracting FDI capital. In 2024, Hai Phong City achieved impressive results in attracting FDI, with a total registered capital of 4.94 billion USD, exceeding the plan by 145% and increasing by more than 34% over the same period last year.

As of April 20, 2025, Hai Phong has 1,063 valid FDI projects, with a total accumulated investment capital of 33.62 billion USD from investors and enterprises from 39 countries and territories. The total newly registered and increased foreign investment capital in the 2021 - 2025 period is estimated at 20.2 billion USD, 1.89 times higher than the 2016 - 2020 period (reaching 10.67 billion USD), making Hai Phong a locality in the leading group of the country in attracting FDI.

In the period 2021 - 2025, on average, 3,384 new enterprises will be established each year with an average registered capital of 11.8 billion VND/enterprise, 1.17 times higher in number of enterprises and nearly 1.56 times higher in registered capital compared to the period 2016 - 2020.

Fifth, 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), an important milestone in the strategic development orientation of the City is the Prime Minister's approval to establish the Southern Coastal Economic Zone of Hai Phong in Decision No. 1511/QD-TTg dated December 4, 2024, 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 national maritime economic center.

Sixth, the City's GRDP in 2024 will be 6.32 times that of 2010, 3.4 times that of 2015 and 1.62 times that of 2020. Hai Phong is the only locality to maintain double-digit GRDP growth for 10 consecutive years, with a growth rate of 11.01% in 2024, 1.55 times higher than the national average. The 2021 - 2024 period will reach 11.53%/year, 1.63 times that of the 2011 - 2015 period (7.08%/year). This is an affirmation of the potential, position, and unique geopolitical position in the North as well as the determination of the locality in the process of building and developing the city. Hai Phong becomes a dynamic, modern urban area, a gateway for Vietnam's trade with the world.

Industry is developing strongly, shifting towards modernization. In the period of 2020 - 2025, the City will focus on perfecting economic components, associated with green transformation, digital transformation and high technology application. The proportion of processing and manufacturing industry in GRDP will reach 43.86% in 2024. This is a fairly high rate, demonstrating the determination of Hai Phong City to achieve the goal of being the leading locality in the country in the cause of industrialization and modernization.

Per capita income has improved, reaching 9,486 USD/person in 2024, more than 20 times higher than in 2003 - when the Politburo issued Resolution No. 32-NQ/TW on building and developing Hai Phong City in the period of industrialization and modernization of the country.

Source: https://baodautu.vn/nhung-thanh-tuu-noi-bat-cua-hai-phong-trong-phat-trien-kinh-te-d281759.html