More industrial parks to be built in Hai Phong city

Five or six more industrial parks are expected to be built in the northern port city of Hai Phong in the time ahead, according to head of the Hai Phong Economic Zone Authority (HEZA) Pham Van Moi.

Ships dock at Nam Hai-Dinh Vu port in Dinh Vu-Cat Hai economic zone.

Investors have kept keen eyes on the construction of the Vinh Quang industrial park in Tien Lang district and the DEEP C4 Industrial Zone in Dinh Vu-Cat Hai Economic Zone thanks to the favourable transport infrastructure. In particular, DEEP C4 is located adjacent to Lach Huyen Deep Sea Port which is able to receive ships with a capacity of up to 8,000 TEU.

Moi said that the city’s 13 industrial parks, including the nine in Dinh Vu-Cat Hai Economic Zone, have attracted 449 domestic and foreign projects so far. Nearly 13.6 billion USD was poured into 311 FDI projects, and more than 136.3 trillion VND (5.9 billion USD) was secured in 138 Vietnamese projects.

In 2018 alone, local industrial parks had 65 new projects with a total registered capital of 520.2 million USD, and 38 projects adjusted their investment capital with a combined additional sum of 1.76 billion USD. Foreign investment tripled the amount recorded in 2017 to reach 2.28 billion USD.

Meanwhile, domestic investors landed 42.7 trillion VND in investment in the year.

Good transport infrastructure alongside improvements in administrative procedure reform and land clearance have made Hai Phong city more attractive to investors, Moi said.

The HEZA will continue working to remove bottlenecks for investors, as well as shorten the time needed for granting investment licences to between two to seven days.