Hai Phong attracts more multi-million USD FDI projects
The northern port city of Hai Phong lured two new foreign direct investment (FDI) projects worth 62.25 million USD in the first three months of this year.
Hai Phong (VNA) – The northern port city of Hai Phong l🌳ured two new foreign direct investment (FDI) projects worth 62.25 million USD in the first three months of this year.
SL Electronics Co. Ltd from the Republic of Korea (RoK) invested 42.25 million USD into a project producing spare parts for electronic household appliances and motors, while the RoK investor HSColor injected 20 million USD into a project serving the printing and producing components for mobile phones.
The two projects are scheduled to start operation in this September.
Also in the first quarter of this year, 88 million USD was invested in three ongoing projects in Hai Phong.
So far, the city has 460 valid FDI projects with a total registered capital of 11.113 billion USD.
Currently, Hai Phong is accelerating the implementation of its key infrastructure projects, including Cat Bi International Airport, Tan Vu-Lach Huyen Highway and Bridge project, Hai Phong International Gateway Port, and Bach Dang bridge.-VNA
Northern Hai Phong city has recently recognised two routes and six destinations as local notable tourist attractions, which will receive priority in investment to develop relevant tourism products.
The northern port city of Hai Phong is potentially becoming a key logistics centre domestically and internationally with improved infrastructure system
Hai Phong needs to have a clear investment mechanism and select projects with practical benefits for both investors and the locality, suggested President Truong Tan Sang.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Hanoi-Hai Phong Highway (Photo:VNA)
