The Haiphong Investment Promotion Conference in China 2024 was held on August 7th in Shenzhen, China, with the participation of over 300 Chinese and Vietnamese enterprises.
At the conference, Mr. Le Tien Chau, Secretary of the Haiphong Party Committee, affirmed that the city has always valued Chinese enterprises, especially those from Shenzhen. He also emphasized that China is considered a priority, key, and strategic market in the process of cooperation, promoting economic, trade, and investment exchanges.
During the event, the Haiphong authorities granted investment registration certificates to seven Chinese enterprises with a total investment capital of 190 million USD. These companies include Flat Vietnam Co., Ltd., Ways Vietnam Technology Co., Ltd., CFL Holdings Limited, Yuekai Machinery Manufacturing Co., Ltd., HMT Hai Phong New Material Technology Co., Ltd., Finework International, and Autel Vietnam Co., Ltd.
In addition to the investment registration certificates, four memorandums of understanding were also signed between Chinese enterprises, the Haiphong Economic Zone Management Board, and infrastructure businesses in Haiphong’s industrial parks.
Haiphong hosts its first investment promotion conference in China.
Currently, Haiphong has 405 investment projects from China (including Taiwan and Hong Kong) with a total capital of 6.14 billion USD, and two industrial parks invested by Chinese investors. Chinese enterprises in Haiphong annually export 5.34 billion USD worth of goods and employ 58,000 laborers, contributing significantly to the city’s economic and social development.
Speaking at the conference, Mr. Le Tien Chau shared that this was the first time Haiphong had organized an investment promotion conference in China, coinciding with the 75th anniversary of the establishment of diplomatic relations between Vietnam and China. Over the years, Haiphong has fostered sister city relationships with Tianjin, Nanning, and Kunming in China, developing strong cooperative and friendly ties.
Inviting Chinese investors to Haiphong, Mr. Chau emphasized the city’s outstanding potential and strengths in transportation and industrial infrastructure development. The Dinh Vu – Cat Hai Economic Zone, in particular, is Vietnam’s most successful economic zone. Haiphong is also in the process of establishing a 20,000-hectare coastal economic zone in the southern region, focusing on eco-friendliness and sustainability, which will offer numerous advantages for investors.
Haiphong has always valued Chinese enterprises, especially those from Shenzhen, and considers China a priority, key, and strategic market in the process of cooperation, promoting economic, trade, and investment exchanges in the future.
Haiphong’s Economy Impresses with Robust Growth
On August 2nd, the Central Economic Commission, in coordination with the Haiphong Party Committee, organized a conference to review the five-year implementation of Resolution 45-NQ/TW dated January 24, 2019, of the Politburo on “Building and developing Haiphong city by 2030, with a vision to 2045.”
After five years of implementing Resolution 45, Haiphong has gradually affirmed its role as a large economic and social center in the Red River Delta and the country. The city has achieved impressive socio-economic development, becoming a bright spot in the overall picture of the country, and the material, cultural, and spiritual life of the people has been improved.
Specifically, Haiphong has maintained a double-digit growth rate for nine consecutive years, ranking second in the Red River Delta region. The average GRDP growth rate from 2018 to 2023 reached 12.6%. Total state budget revenue in the city during the 2019-2023 period is estimated at 480,043.32 billion VND, with an average growth rate of 6.96%/year, 1.88 times higher than the national average.
Notably, Haiphong has consistently been among the leading provinces in FDI attraction nationwide, becoming a destination for many leading global corporations and foreign investors. Total social investment capital in the 2019-2023 period reached 813,065 billion VND, accounting for 5.42% of the country’s total investment, 2.5 times higher than in the 2014-2018 period, with an average growth rate of 11.64%/year.
Haiphong has maintained a double-digit growth rate for nine consecutive years.
Additionally, the city’s technological capabilities have improved, and the application and development of high technology have been promoted. Haiphong ranks third nationwide, after Hanoi and Ho Chi Minh City, and second in the Red River Delta region regarding the Local Innovation Index (PII), scoring 52.32 points.
However, compared to the goals set by Resolution 45, the city’s socio-economic development still faces certain limitations. Four out of seven targets of the resolution are unlikely to be achieved unless Haiphong demonstrates strong determination and takes appropriate measures. The orientation to become an industrially-developed city with a modern orientation, a key economic center of the sea of the country, a driving force for the development of the Northern region and the whole country, and a city with the material and spiritual life of the people on par with typical cities in Asia, has not yet been clearly defined.
Mr. Nguyen Van Tung, Chairman of the Haiphong People’s Committee, stated that to build and develop Haiphong as envisioned in Resolution 45 of the Politburo, the city will mobilize all resources and focus on effectively implementing the resolution in the coming time.
Haiphong has also proposed new specific mechanisms and policies to submit to the National Assembly for consideration and issuance of stronger mechanisms, policies, and institutions to achieve the goals, targets, and tasks set out in Resolution 45.
