Hai Phong officially launched its free trade zone and South Coastal Economic Zone on 30/7, following Prime Minister's decisions announced by Deputy Prime Minister Le Tien Chau at a conference.

The Hai Phong Free Trade Zone spans 6,292 hectares across three locations: Chan Hung - Hung Thang, Lach Huyen port, and Nam Dinh Vu. It will implement special mechanisms for investment, land, customs, and import/export to attract priority sectors such as: semiconductors, digital infrastructure, and logistics.

The South Coastal Economic Zone, a new growth driver for the city, focuses on green and circular development. This area includes three spatial zones, with plans for 9 industrial parks (3,633 hectares) and 5 industrial clusters (275 hectares). Additionally, Nam Do Son Port is envisioned as a green, smart, duty-free port, serving as a key national trade hub.

During the conference, Deputy Prime Minister Le Tien Chau advised Hai Phong to prioritize shared infrastructure with broad impact, including: connecting transport, seaports, digital infrastructure, energy, and worker housing. He also stressed the need for a unified investment promotion agency and suggested that supporting existing investors is the most effective promotion method.

"The decisive advantage must be a creative government, viewing businesses' time and costs as a social resource," he stated.

Lach Huyen deep-water port cluster, located in the Hai Phong Free Trade Zone. Photo: Le Tan

On this occasion, Hai Phong awarded investment certificates and memorandums of understanding for projects totaling 3.2 billion USD. Notably, LG Innotek Vietnam committed 1 billion USD for a semiconductor chip manufacturing plant within the Hai Phong Free Trade Zone.

As of 22/7, foreign direct investment (FDI) into Hai Phong reached 3.26 billion USD, a 72% increase compared to 1.9 billion USD during the same period last year. Approximately 90% of this foreign capital, amounting to 2.94 billion USD, came from enterprises located within industrial parks and economic zones. Cumulatively, Hai Phong currently has 1,868 active FDI projects with a total registered capital of 54 billion USD.

Le Tan