Business

Hai Phong draws over 208 mln USD in FDI in Q1

More than 208.5 million USD in foreign direct investment landed in northern Hai Phong city in the first quarter of 2016, up nearly 16 percent against the same period last year.
Hai Phong draws over 208 mln USD in FDI in Q1 ảnh 1Illustrative image (Source: VNA)
Hai Phong(VNA) – More than 208.5 million USD in foreign direct investment landed innorthern Hai Phong city in the first quarter of 2016, up nearly 16 percentagainst the same period last year.

Of the figure, 57.34million USD came from six newly-registered projects while the remaining 151.18million USD was added to nine operational ones.

The city has to datehosted 491 valid FDI projects with a total investment of approximately 14 billionUSD.

It is believed thatthe growth was largely owing to the city’s efforts to develop localinfrastructure.

A number oflarge-scale projects have been developed to greatly support transportation inthe city, such as Hai Phong Port, Cat Bi International Airport, Tan Vu – LachHuyen Highway and Bridge, Hanoi – Hai Phong Expressway, Ha Long – Hai PhongExpressway, Bach Dang Bridge and expanded National Highway 10.

Chairman of themunicipal People’s Committee Nguyen Van Tung said the city will continueimproving local public administration system and enhancing business climate tolure more domestic and foreign investors.

Hai Phong has focused on improving quality ofpublic services in order to make local residents and investors more satisfied.-VNA
VNA
#FDI#Hai Phong#foreign direct investment#infrastructure
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