FDI flow into Haiphong soars
The northern port city of Haiphong absorbed US$1.8 billion in foreign direct investment (FDI) in the first half this year, 3.5 times higher than the same period last year, the Dau Tu (Investment) newspaper reported.
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The figure represents 93% of the city’s yearly target.
With 23 new projects and 17 expanded ones licenced in the period, Haiphong was among the top localities in terms of FDI attraction.
Most noteworthy among the newly-licensed projects was the US$1.5 billion factory in Trang Due Industrial Park invested by LG Displays Co. Ltd from the Republic of Korea (RoK).
Together, the new FDI projects created jobs for nearly 27,000 labourers, Director of the Department Duong Ngoc Tuan said.
According to the director, Haiphong is now home to 470 operational projects, with a combined registered capital of nearly US$12.68 trillion.
Among FDI enterprises allowed to raise capital, Regina Miracle International Ltd from Hong Kong, China in VSIP Haiphong IZ, producing women's underwear and sportswear adjusted its capital from US$150 million to US$235 million.
Meanwhile, Chilisin Holding Limited, another Hong Kong-funded project in the IZ almost doubled its registered capital, from US$22.6 million to US$46 million.
According to Mai Xuan Hoa, Vice Head of Haiphong Economic Zone management board, Haiphong has become the choice of numerous big economic groups from Japan, the RoK and Belgium.
He underlined the city’s favourable investment climate and developed infrastructure facilities as advantages to help Haiphong attract more FDI.
