Hai Phong (VNA) – The northern port city of Hai Phong sౠtill holds its position among the country’s top performers in foreign direct investment (FDI) attraction with 31 newly-registered and capital adjusted projects valued at more than 1.74 billion USD in the first five months of the year.
Large economic groups from Japan, the Republic of Korea (RoK) and Belgium chose Hai Phong to land their investments thanks to the city’s favourable geographical location and potentials. The city is housing more than 450 valid FDI projects with a total registered capital of over 12 billion USD.
The RoK LG Display Co.Ltd’s OLED display project at Trang Due Industrial Park is among the largest foreign-invested projects. Kicked off in May, covering 40.2 hectares, the 1.5 billion USD factory will come on stream next year and is expected to provide jobs for some 6,000 local people.
The robust results in FDI attraction represents the municipal authority’s concerted efforts to improve administrative procedures and the business investment climate, as well as further investment promotion activities, said Secretary of the municipal Party Committee Le Van Thanh.
He highlighted that prompt land clearance and policies to attract a high-quality workforce are also significant contributors to the city’s FDI attraction.
Such projects as Cat Bi International Airport and Hai Phong International Container Terminal (Component B) together with a comprehensive and modern transport infrastructure will give huge advantages to the city to lure more FDI capital and tap its position in the northern coastal region to the fullest extent, in the coming years, he noted.-VNA
The northern port city of Hai Phong is potentially becoming a key logistics centre domestically and internationally with improved infrastructure system
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.
The Republic of Korea (RoK)’s LG Displays Co. Ltd will invest 1.5 billion USD into its new project at the Trang Due Industrial Zone in the northern city of Hai Phong.
The national flag carrier Vietnam Airlines on May 12 launched two flights to/from the newly-upgraded Cat Bi international airport in the northern city of Hai Phong.
Construction on the Hai Phong international container terminal (component B) began in Cat Hai district, the northern port city of Hai Phong, on May 12.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
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.
Illustrative image (Source: VNA)
