Hai Phong hands over investment certificates to 12 FDI projects
The northern port city of Hai Phong presented investment certificates to 12 major foreign direct investment (FDI) projects worth US$1.8 billion at a ceremony on November 14.
The event was attended by General Secretary of the Communist Party of Vietnam Central Committee To Lam and representatives from ministries, sectors, local administration and businesses.
The newly licensed projects, comprising both new ventures and expansions of existing facilities in the city's economic and industrial zones, are projected to create some 17,000 jobs in the coming time.
Around US$3.5 billion in FDI capital was funneled into the city in the January – November period, or 140% of the annual plan.
Hai Phong has maintained strong socio-economic growth in recent years, with an average annual gross regional domestic product (GRDP) expansion of over 11%.
To date, the city has attracted 1,000 FDI projects worth US$32.2 billion from 40 countries and territories and 228 domestic investment projects valued at US$13.7 billion, most of which are invested in the manufacturing and processing industries.
Of the total FDI capital, US$26.2 billion has been channeled to the Dinh Vu - Cat Hai Economic Zone, which has recorded a high occupancy rate of 70%.
Over the recent past, major international corporations, including LG Group, SK Group, and VinFast automaker, have set up operations in Hai Phong, further integrating the city into global value chains.
