Hai Phong City is estimated to attract US$500 million worth of foreign direct investment (FDI) within the first six months of this year and has made efforts to attract US$1.5 billion in FDI in the entirety of 2020.
The Dinh Vu-Cat Hai Economic Zone. (Photo: baohaiphong.com.vn)
Head of the Management Board of Hai Phong EconomicZone Pham Van Moi said that to achieve the set target, Hai Phong has focused on promoting land clearance, building plans for human resources training and establishing more industrial zones.
The city is completing procedures to set up new industrial zones, including DEEP C 4 in Kien Thuy District, Tien Thanh and Vinh Quang in Tien Lang District, and Vinh Quang and Giang Bien II in Vinh Bao District.
The authorities have also proposed the construction of An Hung-Dai Ban industrial zone in An Duong District, Thuy Nguyen industrial zone in Thuy Nguyen District, and Nam Trang Cat industrial zone in Hai An District.
In addition, the city has also planned to adjust the boundary of Dinh Vu-Cat Hai Economic Zone, expand the Trang Due Industrial Zone (phase 3), establish Xuan Cau Industrial and Non-tariff Zone in Cat Hai District, and set up the Cau Cuu Industry Zone in An Lao District.
The city needs approximately 22,000 high-quality human resources and the Management Board of Hai Phong Economic Zone intends to coordinate with enterprises to provide training for this number of workers. Hai Phong human resources meet about 60% of the market demand and the remaining workers are from other provinces.
The city has so far attracted 377 FDI projects with a total investment capital of over US$15 billion.