Hai Phong offers special commitments to FDI businesses

Meeting with FDI businesses on October 5, Le Tien Chau, Secretary of the municipal Party Committee, noted that Hai Phong has obtained impressive growth in FDI attraction in recent times, consistently ranking among the top in the country for registered investment capital and increasingly appealing to foreign investors. FDI businesses have made a significant contribution to the city’s socio-economic development.

The success of FDI businesses is of the city’s success, contributing to the growth of Hai Phong and Vietnam as a whole, he said.

He revealed that in the coming time, the city will focus on accelerating the establishment and expansion of industrial zones and economic zones, particularly the establishment of the Southern Coastal Economic Zone. It will also promote the procedures for establishing a new generation Free Trade Zone with superior incentives to attract global technology corporations.

Furthermore, the city will continue to invest in improving the logistics infrastructure and transportation systems to connect ports, economic zones, industrial parks, airports, high-speed rail, and expressways. It will also develop a high-quality workforce and skilled labor.

Hai Phong will continue implementing supportive measures for FDI businesses to carry out projects in the city regarding location, planning, land, environment, labour, and fire prevention and fighting, said the leader.

To deal with extensive power outages as seen during the height of the recent typhoon Yagi, he assured that Hai Phong will develop an emergency power supply plan to minimize sudden power outages that could impact the production chains of enterprises.

The city will mobilize resources to expedite the investment in power supply projects locally, he said.

During the dialogue, representatives from various FDI businesses raised key issues, including the city’s strategy for attracting FDI, training and enhancing the quality of the workforce, and addressing the need for social housing. Many other recommendations were made regarding land, construction, transportation infrastructure, taxes, customs, and energy.

Currently, there are 985 operational FDI projects in Hai Phong with a total registered investment capital of US$31 billion. These projects primarily operate in the fields of industrial production, making up over 83%, followed by real estate and infrastructure (14%), trade, services, and transportation.