Hai Phong expects strong wave of investment from APEC member economies
Hai Phong will present investment registration certificates for 32 projects and sign seven Memoranda of Understanding, with total committed capital exceeding 15.6 billion USD. These projects include investments from Europe and the US, reflecting the growing interest of global investors in the city's business environment and development potential.
The Hai Phong City Convention and Performance Centre is one of the venues for ABAC III. (Photo: VNA)
Hai Phong (VNA) – The northern port city of Hai Phong expects a strong wave of investment from APEC economies as it is going to host the third meeting of the APEC Business Advisory Council (ABAC III) from July 15-18, said Le Trung Kien, head of the Hai Phong Economic Zone Authority.
Speaking at a press conference on July 14 about the upcoming investment promotion conference, themed “Hai Phong – A Strategic Destination in the New Era”, Kien announced that the conference will take place on the afternoon of July 15 as part of the ABAC III.
The event will see the participation of ambassadors from leading global economies such as the US, Germany, the Republic of Korea, Singapore, and Japan, along with senior executives from major corporations of APEC members.
During the conference, Hai Phong will present investment registration certificates for 32 projects and sign seven Memoranda of Understanding, with total committed capital exceeding 15.6 billion USD. These projects include investments from Europe and the US, reflecting the growing interest of global investors in the city's business environment and development potential.
According to ABAC III organisers, various sideline activities will take place, including field visits to the Trang Due Industrial Park and Lach Huyen International Gateway Port. These visits will offer delegates a firsthand look at Hai Phong’s advanced logistics capabilities and high-tech industrial zones.
City leaders will also introduce the proposed Free Trade Zone - a new growth engine offering unprecedented incentives such as preferential corporate tax rates, visa exemptions, long-term residency permits for foreign experts and their families, and simplified investment procedures.
Throughout dialogues, investors will have opportunities to share insights on Hai Phong’s business climate and propose innovative solutions to further enhance the c༒ity’s competitiveness, contributing to the broader economic development of Hai Phong and the Red River Delta region./.
Six memorandums of understanding (MoUs) will be signed in the fields of infrastructure and urban development on this occasion. In addition, Hai Phong will grant investment licences to 23 major projects with a total registered capital of approximately 15 billion USD.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
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