Hai Phong Portal

Last August, General Secretary To Lam and his wife, along with a high-ranking delegation of the Party and State of Vietnam, paid a State visit to China. Among the 14 cooperation documents signed during the visit, the Certificate of Handover of the Project Results of the Vietnam Aid Project to Plan the Lao Cai-Hanoi-Hai Phong Standard Gauge Railway between the Government of the Socialist Republic of Vietnam and the Government of the People's Republic of China has been and is being realized. Among the three railway projects connecting with China, the Lao Cai-Hanoi-Hai Phong-Quang Ninh route is the first to be implemented and is expected to start construction at the end of this year. The project not only has economic and infrastructural value but is also a vivid symbol of the strategic connection between two close neighboring countries, creating more favorable conditions for the circulation of goods and passengers between Vietnam and China, thereby improving the efficiency of bilateral trade, shortening transportation time, reducing logistics costs and promoting regional connectivity between bordering/remote areas and economic hubs. This information received great attention from Hai Phong enterprises, especially logistics enterprises.

In the context of many fluctuations in the world situation where growth drivers such as exports, public investment and foreign direct investment are all affected by external factors, Hai Phong is still considered a bright spot on the map of FDI attraction with many advantages in terms of technical infrastructure, quality human resources, and investment environment. In early August 2024, a delegation of Haiphong leaders and businesses led by Secretary of the city Party Committee Le Tien Chau had an investment promotion program in Shenzhen City, Guangdong Province. Five Chinese enterprises were granted investment registration certificates by the Haiphong government, with a total investment capital of nearly 200 million USD; dozens of memoranda of understanding on cooperation between Chinese enterprises and Hai Phong Economic Zone Authority were also signed. Currently, a number of agreements between the two sides are being signed. 

As an important foreign political event of the two Parties and two countries, with strategic significance and long-term impact on the development of Vietnam-China relations, this State visit to Vietnam by General Secretary and President Xi Jinping continues to receive attention and expectations from the business communities of the two countries.

Among the 39 countries and territories investing in Hai Phong, China is the leading country in terms of the number of investment projects (with 440 projects) and the second in terms of total investment capital, with about 6.52 billion USD. Import and export turnover to the Chinese market in 2024 reached over 4.5 billion USD. Hai Phong City currently has cooperative and friendly relations with several provinces and localities of China, including a sister-city relation with Tianjin city; a cooperative and friendly relation with Nanning city (Guangxi); relations with Ningbo city (Zhejiang province) and Shenzhen city (Guangdong province); and cooperation with Yunnan province within the framework of the Economic Corridor Cooperation of five provinces and cities of Vietnam - China. In addition, Hai Phong also has exchange relations with a number of localities of China, contributing to effectively implementing agreements between high-ranking leaders of the two Parties and two States, and to deepening and further connecting the Comprehensive Strategic Partnership of Cooperation between the two countries. /.

Anh Thu, Ngoc Tu