(VEN) – Hai Phong has set a target of attracting US$1.3 billion in foreign direct investment (FDI) in 2013.
In the first quarter of 2013 alone, the port city of Hai Phong attracted an additional US$125.41 million in FDI Hai Phong has attracted major Japanese industrial production projects, including Bridgestone Corporation’s US$574.8 million, 102-hectare, 24,700 products per year project in the Dinh Vu Industrial Zone, the US$250 million, 15ha Nipro Pharma Corporation project in the Vietnam-Singapore Industrial Park (VSIP), and Fuji Xerox’s US$119 million, 17.67ha printer and photocopier production project in VSIP.
In the first quarter of 2013 alone, the city attracted an additional US$125.41 million in newly licensed and increased FDI (18.92 percent of that in the same time last year), including US$120.71 million of seven newly licensed FDI projects. Apart from project operation management and investment promotion, the Hai Phong Department of Planning and Investment rapidly rubberstamped formalities to open branches and offices of foreign firms in the city.
To achieve the US$1.3 million FDI target, the department is continuing administrative reforms through making public space and sector plans, simplifying administrative procedures, especially investment licensing and investment project management, and speeding up site clearance and related compensation.
Hai Phong worked with ministries, sectors and Japanese research organizations to construct plans for forming industrial areas in some ongoing industrial parks in the Dinh Vu-Cat Hai Economic Zone, aimed at attracting investment in the support industry sector from Japanese small to medium-sized businesses.
| Japan ranked first among foreign investors in the city of Hai Phong in 2012 with 16 projects (accounting for 41.02 percent of all FDI projects attracted by the city last year) worth almost US$1.069 billion (representing 95.5 percent of the city’s total). It was followed by Malaysia with three projects (7.7 percent) worth US$14.91 million (1.3 percent), and the Republic of Korea (RoK) with seven projects (17.9 percent) worth US$14.3 million (1.3 percent). Minorl foreign investors in the city included Singapore, Chinese Taipei, the US, China, Germany, the Netherlands, and the Philippines. |
Hai Phong has published a book providing administrative procedures for firms seeking investment opportunities in the city. It has continued improving technical and social infrastructure, including seaports, airports, roads, hospitals, schools, hotels and entertainment centers to increase investor satisfaction.
The Hai Phong Department of Planning and Investment said that it will pay more attention to the supervision of FDI businesses’ environmental protection, technology transfer and accomplishment of employee policies and tax payment obligations while preventing transfer pricing and fraudulent trading.
By Huong Chi
Đăng ký: VietNam News
