27/03/2024
Forming partnerships with Chinese businesses in Lach Huyen non-tariff zone
On March 26th morning, Vive Chairman Hoang Minh Cuong of Hai Phong City People’s Committee talked with Mr. Pang Gangzhi, Chairman of the board of Anxin Holding Group (China), who was visiting Hai Phong City to explore investment opportunities regarding the projects in Lach Huyen Area.
Introducing Hai Phong City to Anxin’s Chairman, the Vice Chairman of Hai Phong City People’s Committee briefed, being one of the five Vietnamese Centrally-run cities, Hai Phong has an advantage in attracting investors. The city is an important traffic joint in Vietnam and the world with all five modes of transport gathered. The city’s Hai Phong Port can take in ships weighing up to 145,000 tons and connect directly to major European and American ports. Cat Bi International Airport complies with the 4E standards and can receive the biggest aircraft in the world. The city’s socioeconomic prospects are always on the rise, with a consistent two-figure percentage of growth in the GRDP index (10.34% in 2023) and the GRDP index per capita (7,960 USD).
In 2023, the city ranked second in terms of FDI attraction with 3.6 billion USD in investment capital. As of December 2023, there were 943 eligible FDI projects in the city from 42 countries and territories with 30,04 billion USD in registered capital. 384 of 943 projects were from Chinese businesses (mainland China, Hong Kong, and Taiwan) with 6,04 billion USD in capital. Hai Phong City also recorded 3.2 billion USD of export turnover to China in 2023.
The city focuses on promoting and attracting investment based on the triad of industry and advanced technology–seaport and logistics–commercial tourism. The city is pursuing the establishment of another 15 industrial zones to attract foreign investors, including those Chinese. Hai Phong is also researching establishing an economic zone south of the city to balance the economic benefits and sustainable development.
On behalf of the Chinese delegation, Mr. Pang Gangzhi thanked the city’s Vice Chairman for having welcomed the delegation to the city and considered Hai Phong a place full of great potential for investors from China’s Greater Bay Area – the fourth biggest Bay Area in the world with the estimated GDP revenue of 1,880 billion USD and many developed industrial fields. Anxin’s Chairman of the Board could see many investment opportunities in the city and would conduct thorough research to look for partnership opportunities in Vietnam, especially regarding the projects in the Xuan Cau - Lach Huyen non-tariff zone. The delegation hoped the Hai Phong City’s authorities would support the Chinese businesses in the city./.