Hai Phong Draws $1.8 Bln in New Investments in November
In a significant boost to its economic landscape, Hai Phong has attracted $1.8 billion in new investments in November alone. This substantial influx brings the city’s total foreign direct investment (FDI) for the first eleven months of 2024 to approximately $3.5 billion, surpassing the annual target by an impressive 140%. The cumulative foreign investment capital in Hai Phong now stands at $32.2 billion.
During a high-profile conference held on November 14, investment registration certificates were granted to 12 new and expanded projects within the city's industrial parks. The event was graced by Party General Secretary To Lam, alongside other key leaders from ministries and city officials.
Hai Phong is increasingly becoming a hub for major global investors, integrating itself into global value chains. Noteworthy projects include those by prominent entities such as LG Group, SK Group, and the Vinfast Automotive Manufacturing Complex.
Mr. Le Trung Kien, Director of the Hai Phong Economic Zone Management Board, highlighted the city’s consistent socio-economic growth. Over recent years, Hai Phong has maintained an impressive average GRDP growth rate exceeding 11% per year. In the first nine months of 2024 alone, the city achieved a GRDP growth of 9.77%, driven significantly by both foreign and domestic investments.
Currently, Hai Phong ranks among the top six provinces and cities in Vietnam in terms of attracting foreign investment. The city boasts around 1,000 FDI projects from 40 different countries and territories, cementing its status as a premier investment destination.
As Hai Phong continues to draw substantial foreign investments, it not only fuels local economic growth but also strengthens its position as a key player in the global market.
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