Hanoi (VNA) – With 7.82 billion USD in foreign direct investment lured in 2024, the port city of Hai Phong and the northeastern province of Quang Ninh continued affirming their strong attraction as the two pillars of the northern economic triangle, that includes Hanoi.

Specifically, Hai Phong attracted 4.94 billion USD and Quang Ninh 2.88 billion USD, ranking second and fourth among localities nationwide, respectively.

In 2024, Hai Phong had 126 newly registered projects and 72 adjusted projects, with additional capital of over 3.724 trillion USD.

To date, Hai Phong has 1,020 valid projects with a total investment of 33.8 billion USD. The proportion of projects in high-tech, processing, manufacturing, and logistics sectors in local industrial zones and economic zones reached over 77%. The continued investment by many foreign enterprises in Hai Phong demonstrates the city's growing attraction.

Last year, the city focused on promoting investment in key markets, which helped the city attract high-quality FDI flows. Many leading global corporations such as LG, Pegatron, USI, and Bridgestone have come to Hai Phong with satellite projects in the supply chain, thus forming interconnected chains.

In November, the Hai Phong municipal People's Committee granted investment registration certificates to 12 new and expanded projects in the city's industrial zones, with a total additional investment of 1.8 billion USD.

Notably, LG Display Vietnam's investment expansion project in Trang Due industrial park increased its investment from 4.65 billion USD to 5.65 billion USD. A project by Heesung from the Republic of Korea also had investment capital increased from 154 million USD to 279 million USD.

Le Trung Kien, Head of the Hai Phong Economic Zone Authority (HEZA) said that the city targeted to attract 4.5 billion USD in FDI this year.

He said HEZA will continue to enhance investment promotion activities, focusing on attracting investment in the three economic pillars of seaports, logistics, and high-tech industries. These fundamental solutions are being vigorously implemented by Hai Phong to maintain its strong appeal to investors.

Kien said Hai Phong will develop a coastal economic zone in the south, and establish new industrial zones and eco-industrial parks. It will promote digital transformation, complete the streamlining of its organisational structure, reform administrative procedures, and improve management quality and the investment environment to ensure that the city remains a reliable destination for investors.

Meanwhile, the processing and manufacturing industry is driving the growth of Quang Ninh. The industry accounts for about 12.5% of the province's Gross Regional Development Product (GRDP), and the proportion is expected to increase to 15% by the end of 2025.

Industrial zones and economic zones in the province attracted an additional 2.64 billion USD last year as 42 new investment projects, including 35 FDI ones, were approved; 77 projects, including 66 FDI ones, had their investment capital adjusted.

In July 2024🍸, the Foxconn Group continued to implement two projects in Quang Ninh - the smart entertai🍬nment products project at the Song Khoai industrial park and the smart systems Project at DEEP C Quang Ninh II, with a total investment of over 550 million USD, bringing the group's total investment in Quang Ninh to over 1 billion USD. Notably, all of these projects are in the processing and manufacturing industry./.