Vietnam’s northern port
city of Haiphong attracted a total of over $1.1 billion in foreign
direct investment in the first eight months of this year, ranking second
in the country after the southern province of Binh Duong.
They city licensed 20 new
FDI projects with total investment of over $1 billion and allowed 18
existing projects to expand their capital by $77.6 million during the
period. Of the total value, 97% came from Japan.
Most of the FDI is poured
into hi-tech industrial projects, with the biggest invested by tyre
maker Bridgestone worth $574 million. Nipro Pharma registered a $250
million project while Fuji Xerox received a license for its $119 million plant.
The northern port city is
now home to many industrial parks, including VSIP Haiphong, Nomura
Haiphong, Dinh Vu and Nam Cau Kien. It boasts low labor costs and
multiple airports and seaports, a favorable condition for exports.
Haiphong, which is 119
kilometers from the capital city of Hanoi, was home to 352 valid FDI
projects with total pledged capital reaching $6.97 billion by late July.
With the figure, it ranked 8th among localities in terms of FDI
attraction.
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