Hai Phong City to Promote Attracting Investors
Besides potentials and natural advantages, flexible investment attraction policies are factors to attract more and more foreign investors to expand business and production in Haiphong industrial parks and economic zones.
As one of the principal projects of LG Group, the LG Electronics Vietnam Hai Phong project so far has accumulated a total investment of about 1.5 billion USD, creating about 3,000 jobs for local employees. Mainly manufacturing and assembling high-tech electrical and electronic products, the company is considering an expansion to produce color TVs, smart TVs, and other electronic components.
In 2023, LG Electronics Vietnam Hai Phong’s revenue is estimated to earn about 4 billion USD. Achieving this figure will need enormous support from Hai Phong City’s authorities and Haiphong Economic Zone Authority (HEZA).
The city’s industrial parks and economic zones currently have more than 700 projects with both FDI and DDI, with a total capital of approximately 38 billion USD. In the first six months of 2023, HEZA has contacted and worked with nearly 500 investors and businesses to provide information on the environment and preferential investment policies, regularly and actively supported enterprises in the process of deploying projects, production, and business activities, contributing to creating safe, friendly and attractive investment environment for investors. /.