With an increasing share of foreign direct investment (FDI) pouring into the North over the past decade, Hai Phong is fast becoming a focal point, providing companies with easy access to shipping goods. globally, creating significant growth opportunities. With that background, Hai Phong will become an internationally recognized commercial center and a driving force for development in the North of Vietnam.
Hai Phong – a potential coastal city
With a coastline stretching over 3,200 km along the East Sea, Vietnam has a favorable geographical position to help access major shipping routes in the world. As a result, ocean freight is the most prominent mode of freight transport that facilitates international trade, with the vast majority of goods passing through shipping hubs at either end of the country.
Hai Phong is the main industrial center and largest port in North Vietnam. One of five cities directly under the Central Government at the provincial level, Hai Phong city is the third largest city in the country, after Ho Chi Minh City and Hanoi. It is also one of the most crowded cities in Vietnam.
Like Nha Trang and Binh Duong, Hai Phong’s economy is rapidly becoming a powerhouse. Much of this success can be attributed to the city’s strategic coastal location, the growth of import and export operations through seven seaports, and the latest improvements to infrastructure.
Many preferential policies for investors
Hai Phong has become the focus of FDI inflows, receiving attention and support from the central government, supported by a massive infrastructure boom and numerous government incentives. Hai Phong Economic Zone, which provides incentives to companies when they set up operations, is also acting as a catalyst to attract more investors to the area.
The central government has demonstrated its commitment to continue Hai Phong’s exponential growth by offering many special tax incentives, which has paved the way for Hai Phong to become a foreign investment magnet, as FDI flows into the city’s economy.
The continued improvement of Hai Phong’s Provincial Competitiveness Index ranking reflects the authorities’ constant efforts to improve the business environment, which will further strengthen the attractiveness of the city. city.
Modern and convenient development infrastructure
Recognizing that infrastructure is a key factor creating leverage for economic development, Hai Phong will mobilize resources to develop modern and synchronous transport infrastructure, contributing to improving connectivity with other cities. surrounding key areas. This will contribute to establishing Hai Phong as the main maritime trade gateway of the Northern Regional Economic Corridor.
The city’s infrastructure has made significant improvements through the completion of three core projects. These are Hanoi – Hai Phong highway, Tan Vu – Lach Huyen highway and Dinh Vu – Cat Hai bridge. By facilitating the Hanoi-Lao Cai expressway, these projects are expected to help reduce travel time between Lao Cai province and Hai Phong International Gateway Port to around six hours.
Prime strategic location – Hai Phong becomes the import-export center in the North
Located on the main economic corridor, along the Northeast coast, Hai Phong is one of the five cities directly under the Central Government of Vietnam, becoming the main import and export gateway of the Northern region.
With its proximity to China, only 200 km from the border, the city is considered by many as a China + 1 manufacturing base in ASEAN to take advantage of the China-ASEAN Free Trade Agreement ( FTAs).
Strong development opportunities of industrial parks in Hai Phong
In recent years, Hai Phong has become a core industrial center of Vietnam. Benefiting from the positive impact of the China-ASEAN FTA and official development assistance from Japan, Hai Phong industrial real estate is a favorite destination for manufacturing giants in high-tech industries. .
Along with many incentives for interested investors, Hai Phong together with Bac Ninh province are transforming to develop the industrial landscape throughout the Northern region.
Hai Phong has all the necessary elements to develop into a truly global port city. With continued investment in new routes, traffic management, rail and inland waterways, increased labor productivity, efficient administrative procedures and the development of supporting industries, we believe I believe that Hai Phong has a growth vision that is set for many years to come.
Nam Dinh Vu Industrial Park is proud to be the only industrial park owning an internal seaport in Hai Phong, located in the golden position of the Northeast region, with synchronous facilities, abundant human resources, meeting international standards. . We are ready to welcome investors and help our partner’s manufacturing business develop sustainably.
