Hai Phong reiterates commitment to fair investment, business environment
Hai Phong administration remains committed to creating a favourable and fair environment for foreign investors, including those from the Republic of Korea, an official of the northern port city said on August 16.
Vice Chairman of the municipal People’s Committee Le Anh Quan speaks at the meeting. (Photo: VIR)
Hai Phong (VNA) – Hai Phong administration remainscommitted to creating a favourable and fair environment for foreign investors,including those from the Republic of Korea, an official of the northern portcity said on August 16.
Vice Chairman of the municipal People’s Committee Le Anh Quan madethe pledge at a meeting with domestic and Korean businesses held by themunicipal Department of Planning and Investment.
He noted that Hai Phong has been among the top destinations forforeign direct investment for several recent years.
The city by far is home to 827 valid FDI projects with total registered capitalof nearly 24 billion USD. The RoK is a strategic investment partner of HaiPhong, maintaining its position as the top foreign investor in the city foryears. The LG group alone has poured 7.24 billion USD in a complex of factoriesat Trang Due Industrial Park.
According to Director of the Department of Planning and Investment Nguyen HoangLong, Hai Phong has set a target of attracting 11 billion USD in FDI during the2021-2025 period. The city gives priority to investors with good capacity andexperience, and wants to draw investment in local spearhead sectors andprojects using modern and environmentally-friendly technologies.
Hai Phong also encourages FDI projects to engage in value chains with domestic enterprisesand increase the local content in their products, Long said.
The meeting provided a venue to Vietnamese and Korean businessesto directly meet and discuss cooperation possibilities. Representatives fromthe municipal administration took the occasion to listen to and respond tobusinesses’ questions and problems.
A number of local enterprises and investors reached MoUs on investment andbusiness cooperation at the meeting./.
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Vice Chairman of the municipal People’s Committee Le Anh Quan speaks at the meeting. (Photo: VIR) 
