Hải Phòng to Open Multiple New Industrial Zones
The city of Hải Phòng in Vietnam is set to open several new industrial zones in the coming years. In the first two months of 2024, the total foreign investment attracted to the city reached $165.24 million. This includes 18 new projects with a capital of $150.27 million within industrial zones and economic zones, accounting for 99.27% of the total investment. Additionally, the city attracted $1.09 million from seven projects outside of these zones, making up 0.73% of the total investment. Hải Phòng aims to attract between $2 billion to $2.5 billion in foreign investment in 2024.
To achieve this goal, Hải Phòng will continue to expand and develop its economy, creating a favorable business environment. The city will also focus on clearing land and accelerating the construction of modern infrastructure in existing industrial zones to enhance its attractiveness to investors.
Image: An aerial view of the future industrial and non-customs duty zone project in Xuân Cầu, Hải Phòng. Source
Hải Phòng currently has 14 operational industrial zones. These zones play a vital role in the city’s economic restructuring towards industrialization and modernization, contributing to improving the business environment and enhancing competitiveness. With more than 6,000 hectares of technically equipped infrastructure, these zones provide over 4,000 hectares of industrial land, with an average occupancy rate of approximately 60.5%.
In 2023, the Prime Minister approved the investment plan for the Xuân Cầu Industrial Zone and the non-customs duty zone with an area of 752 hectares, as well as the Tiên Thanh Industrial Zone with an area of 410 hectares. The Hải Phòng Economic Zone Management Board is currently working with investors, relevant agencies, and local authorities to expedite the construction progress of these two zones. The completion of these zones is expected by 2024-2025, providing over 1,000 hectares of industrial land for the market.
Furthermore, Hải Phòng plans to develop an additional 13 new industrial zones with a combined area of nearly 5,000 hectares. Among them, four zones, including Nam Tràng Cát, Thủy Nguyên, Tràng Duệ 3, and Giang Biên, with a total area of over 1,383 hectares, have already submitted investment proposals to the Ministry of Planning and Investment for approval.
The city has also prepared a development plan for the future, envisioning up to 25 industrial zones with a maximum total area of 15,777 hectares and the establishment of a new southern economic zone with an estimated area of 20,000 hectares.
As Hải Phòng strives to become a modern industrial city, it actively promotes the development of eco-industrial zones, focusing on sustainability and environmental responsibility. Efforts are being made to enhance the transition towards a greener economy and reduce carbon emissions within the industrial zones.