The attractiveness of the investment environment helps Hai Phong continuously rank at the top of the country in attracting FDI.

In the first quarter of 2024, Hai Phong attracted $253 million in FDI, reaching 12% of the year's target. Further acceleration in improving the investment and business environment, along with the creation of specific administrative mechanisms, will continue to make Hai Phong attractive in the race to attract FDI...

In 2023, Hai Phong attracted nearly $3.5 billion in FDI, achieving its FDI attraction target four months ahead of schedule.

Speaking at a meeting with embassies, business associations, and foreign direct investment (FDI) investors organized by the Hai Phong City People's Committee on the morning of April 10th, ahead of the Vietnam Development Bridge Forum 2024 and the 23rd Golden Dragon program, Mr. Bui Tien Phong, Deputy Director of the Hai Phong Department of Planning and Investment, said that in 2024, the city aims to attract between 2 and 2.5 billion USD in FDI capital.

Mr. Bui Tien Phong, Deputy Director of the Hai Phong Department of Planning and Investment, speaks at the meeting. Photo: Viet Dung.

Hai Phong is considered a bright spot in attracting FDI and consistently ranks among the top in the country. Previously, in 2023, Hai Phong achieved its foreign investment attraction target four months ahead of schedule, totaling US$3.446 billion with 950 projects, ranking second nationwide.

"In the first quarter of 2024, Hai Phong attracted $253 million in FDI, reaching 12% of the annual plan. With the determination of the city government and the improvement of the investment environment, infrastructure, and other conditions, we are fully confident and striving to achieve the FDI attraction plan set by the city," Mr. Phong emphasized.

Sharing insights into the attractiveness of the port city's investment environment, the leader of the Hai Phong Department of Planning and Investment cited the assessment of the Vietnam Chamber of Commerce and Industry (VCCI) and stated that in recent years, Hai Phong has maintained the best Provincial Competitiveness Index (PCI) in Vietnam and consistently ranked in the top 3. "This index, assessed by the business community, reflects the determination of the city's leaders and government in attracting investors to Hai Phong," Mr. Phong expressed. Regarding investor guidance, the Hai Phong Department of Planning and Investment guides investors through online systems and utilizes artificial intelligence (AI) to answer investor inquiries about investment procedures. Furthermore, the Department has a one-stop service center to receive and guide investors interested in Hai Phong, creating a transparent investment environment and eliminating many unnecessary procedures. Speaking further about the one-stop service center, Mr. Bui Ngoc Hai, Deputy Head of the Hai Phong Economic Zone Management Board, said that the management board handles all investment procedures at the one-stop service center. "This is a special administrative mechanism authorized by the People's Committee of Hai Phong City for the Economic Zone Management Board to perform this task. Investors only need to come, and the board will handle all procedures related to environmental permits, construction permits, etc. The board also has a mechanism for coordinating with relevant agencies, including business registration and tax code issuance with the tax authorities," Mr. Hai said.

City leaders and officials from various departments of Hai Phong interacted with major businesses at a meeting - Photo: Viet Dung.

Regarding the city's green development orientation, Mr. Bui Tien Phong, Deputy Director of the Hai Phong Department of Planning and Investment, stated that in Vietnam, the Prime Minister has issued a national growth strategy on green growth, and Hai Phong is one of the localities actively implementing this strategy. Evaluating green growth from the business community's perspective, Mr. Phong said that the Vietnam Chamber of Commerce and Industry (VCCI) is piloting the assessment of the Provincial Green Growth Index (PGI), but this index has not yet ranked all 63 provinces and cities nationwide. However, according to the scores published by VCCI and the assessment of the component indicators, Hai Phong is basically in the top 5. The PGI consists of four component indicators: minimizing environmental pollution and the negative impacts of climate change; ensuring compliance with minimum environmental standards; the leadership role of the provincial government in environmental protection; and policies and services supporting businesses in environmental protection. Furthermore, according to Mr. Phong, Hai Phong is currently one of the three localities selected by the Ministry of Planning and Investment as a pilot location for developing a green development plan nationwide. On December 2nd, 2023, the Government approved the Hai Phong City Planning for the period 2021-2030, with a vision to 2050. Accordingly, the plan outlines six development perspectives, in which the city focuses on developing several modern science and technology fields, especially the marine economy, so that Hai Phong can truly lead the country's industrialization and modernization. Hai Phong also strives to soon become a city with modern industry and services, and high-tech, organic, green, and circular agriculture, linked to digital transformation; a modern, internationally-oriented marine economic center. At the same time, it is necessary to complete a synchronous and modern system of technical and social infrastructure, prioritizing the development of transportation infrastructure that seamlessly connects seaports with inland areas, as a basis for the strong development of logistics services and infrastructure for the development of the digital economy, digital society, and digital government.

VnEconomy

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