The city attracted investors from 25 countries and territories, with most projects focusing on industry and high technology, said Vice Chairman of the municipal People’s Committee Dan Duc Hiep. 

Notably, the city was the choice of some world giants, including Bridgestone with a 447.8 million USD factory launched in October, as well as Nipro, Pharma, Fuji Xerox, and LG Electronics, he noted. 

Currently, Hai Phong has 19 industrial parks covering 9,716 hectares, including Nomura-Hai Phong, Dinh Vu, VSIP Thuy Nguyen, Cat Hai and Lach Huyen, said Hiep. 

However, he also pointed to a number of shortcomings that can hinder the FDI inflow into the city, including a lack of professional investment promotion campaigns, and slow implementation of projects and ground clearance, along with poor infrastructure system and a short of skilled workforce. 

In the future, the city will focus on designing policies to support and encourage investors, while working with domestic and foreign partners in speeding up ground clearance and building infrastructure, focusing on industrial parks for support industry, he said. 

The official also stressed the need to step up international economic cooperation and expand the city’s economic space, along with broadening relations with strategic partners, including Japan, the Republic of Korea, Russia, the US, the EU and other regional countries, international organisations and multi-national groups.