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Hải Phòng sucks in FDI

VGP – The year 2008 is surely Hải Phòng City’s bumper crop of foreign direct investment (FDI). Up to now, the total capital in the city has amounted to US $1.3 billion, five folds higher than last year.

September 24, 2008 10:03 AM GMT+7

A pier in Đình Vũ industrial park in Hải Phòng - Illustration photo

By the end of this month, Hải Phòng will have accommodated 284 valid FDI projects with the total capital of over US $3.8 billion.

At present, investors are looking to real estate, urban construction, and offices for lease. The capital poured into this field has reached US $228 million, accounting for over 17.5% of the city’s total registered FDI capital.

The US, Japan, Singapore and Hong Kong top the list of biggest investors in Hải Phòng, followed by Taiwan, the Netherlands, the UK, Belgium, France, Russia and the Republic of Korea.

From now until the end of this year, the city plans to license two multi-billion dollar projects on industrial parks, urban areas and services complexes to the North of the Cấm River and Tràng Cát of Hải An District. These projects are invested by Singapore’s Sembcorp group and Taiwan’s Foxconn respectively.

Hải Phòng has also strictly whipped such projects which are proved to be ineffective, harming the environment and undermining investment quality. In the first nine months, the city has revoked investment licenses of 13 FDI projects.

To attract more FDI in the remaining months of the year, Hải Phòng will focus on improving infrastructure and services in industrial parks and lifting all barriers to investors.

By Ngọc Vân