Hai Phong licenses 4 new investment projects

Hai Phong Economic Zone Authority leading officials grant investment registration license to project to build Berths No.7 and 8 at Lach Huyen deep-water port area (Photo: VNA)

Hai Phong – The northern port city of Hai Phong on May 9 granted investment registration licenses to a project to build Berths No.7 and 8 at Lach Huyen deep-water port area, and three others in the city’s industrial parks.

The berth-building project is invested by Saigon Newport One Member Limited Liability Corporation with 12.79 trillion VND (545 million USD).

The berths, 450m long each, can serve container ships of 12,000 TEU - 18,000 TEU and are supported with a 200m-long barge dock.

Construction is expected to start in the first quarter of 2025 and the berths be put into operation in the fourth quarter of 2027.

In addition, the Hai Phong Economic Zone Authority (HEZA) also presented investment licenses to the 331-billion-VND Starcharge energy equipment factory project of Singapore-based Starcharge Energy Pte.Ltd., the 1.16-trillion-VND HW Energy project of HW International Investment Holdings Pte.Ltd., both at the Maritime Service and Industrial Zone; and the 633-billion-VND) Thinking Electronics Vietnam project of Taiwan (China)’s Thinking Electronics Industrial Co., Ltd in Nam Cau Kien Industrial Park.

HEZA head Le Trung Kien pledged to create all favourable conditions for the implementation of the project.

Besides the new projects, Hai Phong’s industrial and economic zones has so far this year attracted 17 new foreign-invested projects, and seen nine existing ones adding capital, with a combined capital of 498.5 million USD. The port city has also attracted two new domestic-invested projects and four existing ones was increasing their capital, with a combined investment of 46.58 million USD.

To date, they have drawn 477 FDI projects worth 23.35 billion USD, and 205 foreign-invested ones totaling 12.63 billion USD.

Hai Phong aims to become an international logistics centre The northern city of Hai Phong aims to become a regional and international logistics centre due to its many advantages as a transportation hub for all five types of traffic, including sea, road, air, railway, and inland waterways.

Hai Phong moves to boost tourism development The tourism sector of the northern port city of Hai Phong will focus on developing sports and yacht tourism towards attracting more holiday-makers with high spending power, according to the municipal Department of Tourism.

Hai Phong works towards target of luring 7.5 million visitors in 2023 The northern port city of Hai Phong will strive to welcome 7.5 million visitors in 2023 by strengthening connectivity with domestic and foreign localities in developing tourism products to meet the demand from major markets.

Hai Phong works to draw investment from Taiwan’s electrical, electronic firms The Hai Phong Economic Zone Authority (HEZA) on April 19 held a working session with the Taiwan Electrical and Electronic Manufacturers' Association (TEEMA).