Hai Phong grants investment licenses to five projects

VGP - The Economic Zone Authority (HEZA) in the northern city of Hai Phong on January 24 granted investment licenses to five projects capitalized at nearly US$230 million.

January 25, 2022 6:28 PM GMT+7

Hai Phong grants investment licenses to five projects - Ảnh 1. — Five projects, including three foreign-invested projects worth US$140 million and two domestic ones valued at over VND2 trillion (nearly US$87 million), are granted with investment certificates, Hai Phong City, January 24, 2022.

They consist of three foreign-invested projects worth US$140 million and two domestic ones valued at over VND2 trillion (nearly US$87 million).

HEZA Director Le Trung Kien said HEZA will always stand side by side with investors during project implementation in order soon put projects into operation.

He affirmed that attracting foreign investment is one of the measures to develop the local economy based on the pillars of hi-tech industry, seaports-logistics and tourism-trade.

According to the Ministry of Planning and Investment, in 2021, Hai Phong led 59 provinces and cities nationwide in attracting foreign direct investment (FDI) capital, with US$5.26 billion, accounting for 16.8 percent of total FDI inflows, and 3.5 times more than in 2020.

By the end of 2021, local industrial parks attracted 420 FDI projects worth nearly US$19.1 billion. The Republic of Korea's electronics giant LG is the biggest FDI business in Hai Phong with a total investment of more than US$4.6 billion.

Last year, industrial and economic zones lured 81 foreign-invested projects with new and additional capital of US$2.96 billion. The total foreign investment hit US$5.2 billion, marking a 3.4-fold rise year-on-year, or 206 percent of the target.

This year, Hai Phong strives to lure US$2.5-3 billion in foreign investment./.