Hai Phong City ranks 2nd in terms of FDI attraction
According to the Foreign Investment Department and the Ministry of Planning and Investment, with the expansion of LG Innotek Hai Phong project by 1 billion USD, Hai Phong has risen to rank second in terms of FDI attraction. The city has attracted enormous foreign investment capital in the first seven months.
In terms of investment location, the report indicated that FDI investors had invested in 52 provinces and cities across the country in the past seven months. Hanoi leads the way with a total registered investment capital of more than 2.28 billion USD, accounting for nearly 14.1% of total registered investment capital and increasing 2.76 times over the same period in 2022. Hai Phong ranks second with a total registered investment capital of over 2 billion USD. Hai Phong City's sharp increase in investment capital in the first seven months of 2023 can be explained by the LG Innotek Hai Phong project, which has been adjusted to add 1 billion USD in capital. According to a report by the Hai Phong Statistical Office, among more than 2 billion USD invested in the city in the past seven months, Hai Phong City has granted 53 new projects with a newly granted capital of 458.28 million USD. The city has provided industrial parks and economic zones with 390.17 million USD in investment capital (accounting for 85.14%). Newly-made investment capital outside industrial parks and economic zones also takes up 68.11 million USD (equivalent to 14.86%).