Business

Port city ranks second in FDI attraction

The northern port city of Hai Phong remains the country’s second-biggest receiver of foreign direct investment (FDI), with 235.4 million USD being poured into the locality in the first quarter of 2014.
The northern port city of Hai Phong remains the country’ssecond-biggest receiver of foreign direct investment (FDI), with 235.4million USD being poured into the locality in the first quarter of 2014.

At a press briefing on March 24, Director of themunicipal Department of Planning and Investment Duong Ngoc Tuan said themoney was invested into 11 new and five existing projects, mostly insupport industries, housing, trade and services and automobile spareparts.

Hai Phong’s FDI attraction is second only tothe southern province of Binh Duong , and is higher than Ho ChiMinh City, which is listed third.

The citytargets an FDI of about 1 billion USD in 2014 and favours investors fromthe US, Japan, the Republic of Korea and Europe, he added.

Pham Huu Thu from the municipal People’s Committeesaid changes in business assistance measures have helped Hai Phong climbto the 15th position in Vietnam’s Provincial Competitiveness Index in2013 from 50 th place the previous year.-VNA
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