Hai Phong attracts US$381 million FDI in first half

11:09 | 23/07/2015 Economy

Foreign investors pledged to invest nearly US$381 million in the northern port city of Hai Phong in the first six months of 2015, the city’s economic zone authority HEZA has said.

Hai Phong attracts US$381 million FDI in first half

Specifically, investment licences were granted to 20 new projects with registered capital totalling US$241 million, while investors filed to poured an additional US$140 million into nine existing projects.

The foreign direct investment (FDI) pledges in the first half of 2015 dropped 36% compared with the same period last year and were equivalent to one fourth of the 2015 target.

HEZA’s Deputy Head Mai Xuan Hoa said the largest new project was an electronic board assembly facility by the Korean company Heangsung Electronics, which has a capital of US$100 million.

The remaining projects are mainly in the supporting industries to provide parts and components for existing large projects by LG Electronics, Kyocera and Fuji Xerox.

In order to meet the target to attract US$1.5 billion in FDI in 2015, the Hai Phong People’s Committee has asked HEZA and relevant agencies to organise investment promotion activities, including working with the leading exhibition organiser Reed Tradex.

The HEZA portal has also been improved with more content about the city’s investment environment available in Vietnamese, English and Japanese.

Hai Phong’s Vice Chairman Dan Duc Hiep expected to attract more investment in the future as a number of large infrastructure projects are being implemented in the city such as the Lach Huyen Port, Cat Bi Airport upgrade and the Hanoi-Hai Phong Expressway./.

Source: nhandanonline

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