16:04 | 09/03/2016 Investment
Hai Phong needs to have a clear investment mechanism and select projects with practical benefits for both investors and the locality, suggested President Truong Tan Sang while visiting the northern port city on March 1.
President Truong Tan Sang visits Vietnam-Singapore Industrial Park in Thuy Nguyen district, Hai Phong (Source: VNA)
He asked the locality to efficiently utilise investment in infrastructure given its strategic position in trading activities.
The State leader noted that developed infrastructure and transport systems will serve as a premise for Hai Phong to grow strongly in the coming years.
He advised the city to focus resources on development, fine-tune planning, and propose policies to develop its strengths and adjust uncompetitive fields.
Regarding a proposal related to coordination between the city and ministries and sectors in implementing the Bac Song Cam urban area, the Lach Huyen port, the Hanoi-Hai Phong Expressway, and the Hai Phong-Thai Binh-Nam Dinh coastal road, the President said the city should give priority to urgent projects that can boost the region’s economic growth.
Hai Phong city is creating all favourable conditions for the implementation of trade and construction projects that help increase the competitiveness of the municipal economy.
Last year, the locality attracted 41 foreign-invested projects, raising the total number to 202 with the total investment of 7.98 billion USD. Its GDP growth rate reached 10 percent, the highest in the past four years, while its budget collection totaled 56.3 trillion VND, up 14 percent year-on-year.
On the day, the State leader visited a 1-billion-USD investment project of the Vietnam-Hai Phong LG Electronics Company in the Trang Due industrial zone in An Duong district, and Japan’s Kyocera company in the Vietnam-Singapore Industrial Park in Thuy Nguyen district.
He asked the LG Electronics to quickly raise its local content rate from 40 percent to 60 percent.
He also offered incense at the Trang Kenh relic site in Thuy Nguyen district to commemorate late President Ho Chi Minh and the three national heroes Ngo Quyen, Le Hoan and Tran Quoc Tuan who contributed to Vietnam’s three victories against aggressors on the Bach Dang River./.