Vietnam Northern Port City Pulls in US$1Bln FDI
The northern port city of Haiphong has attracted over US$1.05 billion in foreign direct investment (FDI) since early this year with roughly one third of this coming into industrial parks, said the city&rsquos Department of Planning and Investment.
Of the total, US$440 million came from 25 new projects and the rest poured into 15 existing projects.
The city is encouraging investors in the area of industrial parks, marine industries and the service industry, especially entertainment projects, said the department&rsquos director Dan Duc Hiep.
Haiphong is one of the northern Vietnam&rsquos key economic regions and is home to the second largest port tem nationwide.
It has so far lured 283 valid FDI projects, capitalized at US$3.7 billion, 60 per cent of which has been disbursed, Hiep said.
Last year, the foreign-invested sector accounted for more than 60 per cent of the city&rsquos total export revenue of over US$1.2 billion.
The city&rsquos gross domestic product (GDP) reached more than VND9.1 trillion ( US$556 million) during the first six months of this year, up 12.2 per cent year-on-year despite the economic slowdown.
Haiphong City is situated at a convenient position for transportation to domestic provinces and international networks via road, rail, sea, inland waterway, and air, making it an ideal destination for both local and foreign investors. (VNS)
Vietnamese
