HAI PHONG TO BUILD 5-6 INDUSTRIAL PARKS

The northern city of Ha Phong houses 13 industrial parks with 449 projects and intends to build additional five to six others in the coming years.

Head of the Hai Phong Economic Zone Management Board Pham Van Moi reported that the city will build five to six industrial parks in the coming time.

In the short term, investors are interested in Vinh Quang industrial park at Tien Lang district and DEEP C Complex at Dinh Vu-Cat Hai Economic Zone.

The two industrial parks are attractive thanks to local transport infrastructure advantages.

Vinh Quang industrial park locates close to Ha Noi-Hai Phong expressway and Hai Phong-Thai Binh coastal road. Meanwhile, DEEP C industrial park is positioned at Lach Huyen port which is capable of handling 8,000 TEU vessels to Europe and the U.S. without transit.

So far, the city has 13 industrial parks of which nine were built in Dinh Vu-Cat Hai Economic Zone. The rest included Nomura, Do Son, Nam Cau Kien, and An Duong.

The city attracted 449 domestic and foreign projects including 311 FDI projects worth US$ 13.5 billion and 138 domestic projects valuing VND 136 trillion.

In 2018, industrial parks attracted 65 newly-registered projects worth US$ 520 million. Meanwhile, 38 projects got additional capital of US$ 1.76 billion. Total amount of FDI attraction hit over US$ 2.28 billion, three times higher than 2017 and double the preset goal.

Experts attributed the successful capital attraction outcomes to convenient infrastructure especially seaport, airport, and expresses. In addition, the local authorities were drastically determined to transforming administrative procedures, site clearance, and creating the best conditions for investors.

The Hai Phong Economic Zone Management Board will continue to reform administrative procedures and cut time for investment license granting to 2-7 days.

Source: VGP