Hai Phong named host of ABAC III, poised for major investment inflows

VOV.VN - Hai Phong has been selected as the host city for the third meeting of the APEC Business Advisory Council (ABAC III), showing strong interest from global investors in the northern city’s business climate and development prospects, according to Le Trung Kien, head of the Hai Phong Economic Zone Authority.

At a press conference on July 14 providing details on the upcoming investment promotion conference themed “Hai Phong – a strategic destination in the new era”, Kien announced that the event will take place from July 15 to 18, welcoming ambassadors from major global economies including the United States, Germany, the Republic of Korea, Singapore, and Japan, alongside top executives from leading APEC enterprises.

A key highlight will be the awarding of investment registration certificates for 32 new projects and the signing of seven Memorandums of Understanding (MoUs), with total committed capital exceeding US$15.6 billion. Notably, several of these projects will come from European countries and the United States.

According to the ABAC III Organizing Committee, international delegates will participate in a range of networking and cooperation activities over the four-day event, including site visits to Trang Due Industrial Park and Lach Huyen International Gateway Port.

These visits will offer firsthand insights into Hai Phong’s high-tech infrastructure and deep-water port capabilities, underscoring the city’s readiness to attract and accommodate global investment.

Minicipal officials will also introduce a newly proposed free trade zone, considered a strategic move to full tap into Hai Phong’s development potential.

The zone is expected to provide incentives such as preferential corporate income tax rates, visa exemptions, long-term temporary residence cards for foreign experts and their families, and streamlined investment procedures. These measures aim to position Hai Phong as a regional hub for high-tech industries, research and development, and international financial services.

During dedicated dialogues and discussion sessions, investors will share feedback on the local business environment and offer recommendations to help Hai Phong adopt innovative models and forward-looking policies.

These contributions are seen as vital to enhancing Hai Phong’s investment appeal and accelerating socio-economic growth in the city and across the broader Red River Delta region.

 

Leaders of Hai Phong and Korean businesses during an investment promotion forum in 2024.jpg

Hai Phong pledges to increase business connectivity with RoK

VOV.VN - The northern port city of Hai Phong creates favourable conditions for foreign firms, including those from the Republic of Korea (RoK), to do long-term, efficient and sustainable business in the locality, said Le Anh Quan, vice chairman of the Hai Phong municipal administration.

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