Haiphong hails a string of new projects

June 23, 2022 | 18:04
On June 22, Haiphong Economic Zones Management Authority (HEZA) awarded an investment registration certificate to a project on Tien Thanh Industrial Zone’s (IZ) infrastructure development based in Tien Lang district, as well as to five other projects.
Haiphong hails a string of new projects
Le Trung Kien, director of the HEZA, awarded an investment certificate to Tien Thanh IZ’s infrastructure development project in Tien Lang district

According to Pham Huu Quang Huy, director of the Investment Management Department at the HEZA, in the first half of this year, the city’s industrial and economic zones (IZs and EZs) allured 21 new foreign-invested projects, and 18 existing foreign-invested projects asked for supplemental capital.

New foreign direct investment (FDI) volume reached $755.7 million, equal to 56.2 per cent on-year.

Up to now, the city’s IZs and EZs attracted 438 foreign-invested projects valued at $22.07 billion in total capital and 195 local ones worth $12.57 billion.

Haiphong hails a string of new projects
Tien Thanh Industrial Zone

At the conference, Le Trung Kien, director of the HEZA, awarded an investment registration certificate to Tien Thanh IZ’s infrastructure development based in Tien Lang district. He also granted new investment certificates to three new projects and two existing projects seeking capital additions.

The project on Tien Thanh IZ’s infrastructure development has a total investment value reaching $199.8 million, covering an area of 410.46 hectares, with 8.48ha planned for residential blocs for workers. Thereby, the city is now home to a total of 15 IZs, with a total land area of ​​6,074ha.

The project aims to shape Tien Thanh IZ following the criteria of a multi-sectoral, green, and clean industrial park with a modern technical infrastructure system, creating a strong appeal to domestic and foreign investors

Nguyen Van Binh, chairman of Tien Thanh Industrial Zone Investment JSC said that the project has a very favourable position adjacent to major road connections. The project’s investment proposal was also approved by the prime minister.

The project aims to shape Tien Thanh IZ following the criteria of a multi-sectoral, green, and clean industrial park with a modern technical infrastructure system, creating a strong appeal to domestic and foreign investors and contributing to promoting sustainable growth of the industry and Haiphong’s economy.

The project is expected to break ground at the end of 2022 and will attract up to 40,000 workers from the locality as well as neighbouring provinces.

Kien noted that these projects contribute to the implementation of the action programme on developing new IZs, one of the city’s key projects.

Once completed, the Tien Thanh IZ’s project would contribute to attracting investors, as the current occupancy rate at city-based IZs is quite high. This is also the basis for the HEZA to reach the goal of attracting up to $3 billion in capital in 2022.

Haiphong hails a string of new projects
Haiphong hails a string of new projects
Investment registration certificates were awarded to several projects in Haiphong's IZs and EZs

Three projects awarded with new investment registration certificates include the $75-million project on component manufacturing for automobile safety systems by HMT New Technical Materials Co., Ltd., which is expected to come on stream in the first quarter of 2025.

The second was the Nam Dinh Vu development project CN3-03 by ESR V Investor 4 Pte.Ltd with the total investment capital of $33 million over an area of 120,000sq.m, which is expected to go into operation in the fourth quarter of 2024.

The third was the GNP Nam Dinh Vu Industrial Centre by Classic Leaf Vietnam Co., Ltd. with the total investment of $38.5 million and an area of 170,000sq.m, which is expected to go into operation in the second quarter of 2023.

“In 2021, the IZs and EZs in Haiphong courted $5.1 billion, reaching 205 per cent of the full-year plan. Today’s ceremony demonstrates the high determination of the HEZA in investment attraction, contributing to the successful implementation of the goals set out in Resolution No.45 of the Politburo,” said Kien, adding that the organisation will continue to accompany investors during the investment process.

By Son Thuy

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