Hai Phong pledges favourable conditions for Taiwanese investors

The Economic Zone Authority of northern Hai Phong city (HEZA) pledged the most favourable administrative procedures for foreign investors, while meeting with China’s Taiwan Electrical and Electronic Manufacturers’ Association (TEEMA) on September 28.

This was the third delegation of Taiwanese businesses to visit Hai Phong since the start of this month to learn about the local investment climate.

At the meeting, HEZA made known the city’s advantages, including infrastructure and human resources, along with incentives for investors at  its economic zones (EZs) and industrial parks (IPs).

It also highlighted the readiness to connect Taiwanese enterprises and investors with Hai Phong universities, vocational schools, and training establishments to boost cooperation in improving human resource quality.

Developers of IP infrastructure also provided an overview of local IPs and EZs, investment attraction orientations, logistics potential, and transport and technical infrastructure there.

The TEEMA delegation expressed their interest in local potential, advantages, and investment attraction policies.

As of August 31, Hai Phong was home to 60 Taiwanese projects worth US$1.46 billion, accounting for 6.1% of the total foreign direct investment (FDI) in the city. Twenty-seven of the projects are located in IPs and EZs, with a combined capital of US$1.25 billion.

Taiwanese firms in the city posted revenue of US$1.15 billion in 2021 and US$668 million in the first half of this year, statistics show.