Last updated: Friday, June 14, 2013
Hai Phong Strives to Lure Foreign InvestmentPosted: Wednesday, May 16, 2012
The northern port city of Hai Phong is making greater efforts to lure more foreign direct investment (FDI), especially from Japan.
The city plans to build a specialized urban and industrial zone in Trang Cat, designated for Japanese investors.
To make its investment environment more attractive, Hai Phong is providing investors with supporting services, shortening time needed to grant investment licenses to 2-3 days, granting some preferential certificates through the Internet, actively coordinating with investors to solve issues relating to human resources, electricity, infrastructure…
The city is developing infrastructure, including construction of the expressway linking it with Ha Noi, and the seaport of Lach Huyen using Japanese ODA. As scheduled, the port will receive ships with tonnage of over 100,000 tons by 2014. Cat Bi Airport will have a new runway to receive international flights.
Hai Phong strives to lure FDI of some US$1 billion this year.
By the end of March, the city had housed 323 FDI projects with total registered capital of over US$5.8 billion.
Among 28 countries and territories having investment projects in Hai Phong, Japan currently ranks the first with 80 projects with combined capital of over US$1.5 billion, followed by the Republic of Korea.
FDI in recent years has increased in service, trade and real estates. Industrial production mainly involves in processing industry, mechanical manufacture and environmentally friendly industry.
To date, Nomura Industrial Park in the city has leased out all the area of 153 hectares. It is in the next phase of turning into a model industrial park that has a kindergarten, a cut-priced supermarket, facilities for workers’ medical checkups and treatment…