To make the port city increasingly appealing to investors, Haiphong has been intensifying its investment promotion efforts. In June, the city's leaders participated in several events, both across the city and in South Korea.
This month, President of the Republic of Korea Yoon Suk Yeol's mission to Vietnam offered encouraging signs regarding the increase in capital flows to Vietnam in general, and Haiphong in particular.
President Yeol’s entourage to Vietnam consisted of more than 200 enterprises, including prominent South Korean corporations such as Samsung, LG, SK, Hyundai Motor Group, and Lotte.
|Sao Do Group's leaders joined the Haiphong city delegation at the South Korean investment promotion conference |
During the Haiphong Investment Promotion Delegation's operations in South Korea from June 11-14, Haiphong's representatives presented investment registration certificates to newly committed projects and those seeking capital additions.
These included the Bumhan Vina Heavy Industries project in the Nam Dinh Vu IP from Sao Do Group, and others from Haewon Vina Co., Ltd., Hala Electronics Vina Co., Ltd., and EST Vina Haiphong Co., Ltd. The total investment value reached $230 million.
Simultaneously, cooperative agreements with a committed investment volume surpassing $1.5 billion were also inked. More than 150 South Korean enterprises, investors, and investment advice firms registered to attend the conference.
As a leading partner of the city, South Korea has developed a comprehensive, viable, and successful economic and commercial cooperation with Haiphong.
Leveraging their strengths in high-tech manufacturing, logistics, renewable energy, and waste treatment, among others, Japan and South Korea are deemed as key markets and the driving force for investment in Haiphong over the coming years.
Prepared to welcome investors
“Haiphong will continue to be the top destination for capital flows from key markets such as South Korea, Japan, and Taiwan over the coming time,” said Nguyen Thanh Phuong, general director of Sao Do Group – the infrastructure developer for the Nam Dinh Vu IP.
He noted that the city’s investment climate is appreciated by many, thanks to its support policies and physical infrastructure.
The city has spent significant sums to develop the infrastructure in its IPs. Close attention has been paid to the completion of internal infrastructure and service facilities to provide the best opportunities for secondary investors.
The Nam Dinh Vu IP, for example, was designed from its inception to be a seaport-based IP, capitalising on its proximity to the sea. According to Sao Do Group, foreign-invested businesses in the industrial sector have a particularly high demand for logistical utilities.
|Along with the internal seaport and liquid cargo facility, Nam Dinh Vu is also a contemporary IP with different functional subdivisions that complement each other. |
The IP is now the only one in Haiphong with an internal international-standard seaport – Nam Dinh Vu Port – and a contemporary and synchronously funded logistics ecosystem, ensuring its unique appeal in comparison to other sites.
Phases 1 and 2 of the port project have now been completed, with a total capacity of 1.2 million TEUs per year.
When phase 3 is finished, the entire port cluster will span 65 hectares and boast a total design capacity of 2 million TEUs per year. The port can accommodate cargo ships weighing up to 48,000DWT.
Along with the internal seaport and liquid cargo facility, Nam Dinh Vu is also a contemporary IP with different functional subdivisions that complement each other.
In addition, Sao Do Group offers a wide range of services to assist investors in carrying out procedures to swiftly bring projects into operation. It can also provide support in terms of personnel recruitment and training.
|The Green Saturday 2023 - Earth is our Home event as part of Environment Action Month at the Nam Dinh Vu IP |
The Nam Dinh Vu IP is set to become a green and ecologically friendly facility, as well as a safe destination for consumers and their partners.
Lately, it has focused on attracting projects that protect the environment, use less labour, and utilise highly automated systems.
Efforts also gear towards studying issues related to clean energy usage and solar power. Cooperation agreements have been signed with large corporations to implement renewable energy projects and other meaningful activities to protect the environment.
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