INDUSTRIAL ZONES IN HAIPHONG TO ATTRACT $5 BILLION IN FDI IN 2021

Industrial zones (IZs) registered $5 billion worth of foreign direct investment at a meeting between Haiphong Party Committee and IZ infrastructure investors aimed to resolve difficulties and promote investment in IZs.

Notably, Sao Do Investment Group JSC registered an investment of $1 billion in Nam Dinh Vu Industrial Park (IP), while VSIP Haiphong JSC will inject $1-1.5 billion in VSIP Haiphong, Saigon-Haiphong Industrial Park JSC $1 billion in Trang Due IP, and Deep C IZs are expected to lure in $1-1.5 billion.

In order to support these IZs' investors realise the above target to attract $5 billion in FDI capital, Le Van Thanh, Secretary of Haiphong Party Committee asked Haiphong Economic Zones (EZ) Management Authority, and relevant authorities to promote administrative reform to deal with difficulties facing IZs, as well as review their compliance.

“The city will create favourable conditions for investors to implement their projects. Investors also have to comply with the approved planning, expand operations in accordance with sustainable development, and avoid unexpected environmental impacts,” Thanh said.

Meanwhile, the authority proposed the province to accelerate land clearance to create a land fund for investors, while simultaneously allocating land for building housing for workers and building plans for training human resources.

In addition, the authority also proposed the province to build a policy to deal with enterprises’ difficulties caused by the COVID-19 pandemic, as numerous partners cannot enter Vietnam to appraise their projects, impacting business activities. The authority also requested the province to compile policies to support labourers who cannot go home to enjoy Tet.

Haiphong currently has 12 IZs, eight of which are located in Dinh Vu-Cat Hai EZ, and four others are located outside the EZ. These IZs attracted 570 projects, 403 of which come from foreign investors worth $17.1 billion. These IZs generated 158,000 jobs for local labourers.

According to the plan, the city will construct 15 more IZs with the total area of 6,418 hectares this year.

Source: VIR

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