Businesses operating in the IZ recently employ 23,000 workers, earning 50 percent of Haiphong’s total export revenue. The Nomura IZ, a joint venture between Haiphong city and the Nomura financial group from Japan, currently has 54 investors, mostly from Japan, the EU, US, and the Republic of Korea, with a total registered capitalization of nearly US$1 billion.

Ho Dinh Tien, Deputy General Director of Nomura IZ, says many Japanese and other firms are keen to invest in the Nomura IZ as its modern infrastructure is creating a good business environment. However, he said, the managers need to further improve the transport network and electricity supply, and simplify administrative procedures for foreign investment.

So far, Tien says, the Nomura IZ has paid off well thanks to the close cooperation between the local administration, investors and infrastructure developers.

He says it always pays due attention to increasing the quality of its services as required by foreign investors.

Of course, Tien admits, there is no denying the fact that businesses do not have a comprehensive plan for long-term development for lack of capital and human resources.

However, he still has high hope that more foreign investors, including those from Japan, will come to the Nomura IZ.