Leading the Way in FDI Attraction
As one of the five centrally-governed cities in Vietnam, Haiphong city possesses numerous advantages and has set its sights on becoming a pioneer in industrialization and modernization, serving as a driving force for the development of the Northern region and the country as a whole.
According to the Haiphong Statistics Office, in terms of FDI attraction, as of June 20, 2024, Haiphong had 970 valid projects with a total investment capital of 30.47 billion USD. Of these, 561 projects with a capital investment of 26.78 billion USD are located in industrial and economic zones, while the remaining 409 projects with a capital investment of 3.69 billion USD are outside these zones.
In 2023, Haiphong achieved its target for foreign investment attraction four months ahead of schedule, with a total of 3,446 billion USD across 950 projects, ranking second in the country.
Haiphong is not only one of the leading cities in the country in attracting foreign investment, but it also boasts a rich traditional culture and stunning landscapes characteristic of the Northern coastal region. Recently, the city has capitalized on the boom in ‘Food Tour Haiphong’, attracting domestic and international tourists and increasing tourism revenue.
According to the Haiphong City Tourism Department, in the first six months of 2024, the city’s tourism continued its impressive growth trajectory, with an estimated 4.27 million visitors, a 16.25% increase compared to the same period last year. Of these, international visitors are estimated to reach 502,600. Revenue from accommodation services is estimated at over 1,212 billion VND, while revenue from travel tourism activities reached 124.7 billion VND.
Haiphong’s ambitious tourism development plan focuses on offering diverse experiences to its visitors. From luxurious cruise tours to the natural wonder of Ha Long Bay, to world-class golf courses, and bustling food streets offering culinary delights such as ‘nem cua bể’ and ‘bánh đa cua’—a true representation of the city’s rich culinary heritage. All these touchpoints promise to deliver a vibrant tourism market for the port city.
Mr. Michael Piro, Co-founder and CEO of Wink Hotels, emphasized, “In the first half of 2024, Vietnam welcomed over 8.8 million international arrivals, a 58% increase compared to the same period last year, surpassing the pre-COVID level of 8.5 million. This indicates a positive recovery trend in the hospitality industry.”
A Boom in Five-Star Hotels
According to a report by the Haiphong Tourism Department, there are currently seven operational five-star hotels in the city. Five of these are located in the city center: Pearl River Hotel, Gia River Resort Hotel, Mercure Haiphong Hotel, Sheraton Haiphong Hotel, and Media Vinpearl Rivera Haiphong Hotel. The remaining two five-star hotels are located in the Cat Ba tourist area.
The successful start of these five-star hotels has catalyzed the development of several other five-star hotels in the city. Currently, six five-star hotel projects are under construction and are expected to be completed by 2024 and 2025.
Three of these hotels, Wyndham Dragon Ocean (part of the Đồi Rồng International Tourism Area project), Pullman, and Hilton, have completed construction and are in the process of finalizing procedures to commence operations in 2024. Additionally, the five-star hotel in the Diamond Crown Complex Haiphong project, a five-star hotel in the Cho Sat area, and the M’Gallery Cat Ba (phase 2) are also under active construction.
Recently, after two years of construction, Indochina Kajima Development Joint Stock Company – a joint venture between Indochina Capital and Kajima Corporation, held a topping-out ceremony for the Wink Hotel Haiphong, with a total investment of 50 million USD.
Wink Hotel Haiphong is the sixth hotel in the Wink Hotels chain developed by Indochina Kajima. The 22-story hotel, with one basement level, is located at 135 Dien Bien Phu Street, Hong Bang District, Haiphong city. With a total construction area of approximately 16,000m2, the hotel will offer 225 rooms and 77 serviced apartments upon completion. The project is expected to be handed over and inaugurated in mid-2025.
Mr. Peter Ryder, Executive Chairman of Indochina Capital.
Mr. Peter Ryder, Executive Chairman of Indochina Capital, shared, “After two years, we are not just building a modern building for Haiphong city, but also gradually realizing our vision of providing ‘affordable luxury’ accommodation, in line with the spirit of a modern Vietnam. Wink Hotel Haiphong is the sixth hotel in the Wink Hotels chain, with a total investment of 50 million USD. Additionally, we have invested another 50 million USD in the Core5 Haiphong industrial real estate project, demonstrating our strong and long-term commitment to this dynamic port city with its promising potential.”
According to local travel companies, the addition of these internationally-standardized five-star hotels will enable the city to cater to the needs of domestic and international expert delegations, entrepreneurs, and high-end tourists.
Haiphong is positioning itself not just as a destination but as a microcosm of Vietnam, offering a wealth of potential for exploration and discovery.
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