Port city ranks second in FDI attraction

The northern port city of Hai Phong remains the country’s second-biggest receiver of foreign direct investment (FDI), with 235.4 million USD being poured into the locality in the first quarter of 2014.

Hai Phong Port (Photo: VNA)

At a press briefing on March 24, Director of the municipal Department of Planning and Investment Duong Ngoc Tuan said the money was invested into 11 new and five existing projects, mostly in support industries, housing, trade and services and automobile spare parts.

Hai Phong’s FDI attraction is second only to the southern province of Binh Duong , and is higher than Ho Chi Minh City, which is listed third.

The city targets an FDI of about 1 billion USD in 2014 and favours investors from the US, Japan, the Republic of Korea and Europe, he added.

Pham Huu Thu from the municipal People’s Committee said changes in business assistance measures have helped Hai Phong climb to the 15th position in Vietnam’s Provincial Competitiveness Index in 2013 from 50 th place the previous year.

Source: VNA

Other news