In 2024, Hai Phong city registered 121 new foreign direct investment (FDI) projects with a total capital of US$4.94 billion, according to data from Vietnam’s Ministry of Planning and Investment. This marks an increase from 2023 of 42.45 percent for a total of US$4.95 billion in newly registered capital.

Foreign direct investment in Hai Phong, a key coastal city in northern Vietnam, has been a significant driver of its economic growth and industrial development. Known for its strategic location with access to deep-sea ports, international airports, and proximity to Hanoi, Hai Phong has become a top destination for FDI in sectors such as manufacturing, logistics, electronics, and renewable energy. Major investors include multinational corporations like LG, Bridgestone, and Pegatron, which have established large-scale production facilities in the city.

Hai Phong’s industrial zones, such as Dinh Vu-Cat Hai Economic Zone and VSIP Hai Phong, are well-equipped with modern infrastructure and offer attractive incentives to foreign investors. The city has also prioritised green energy projects and high-tech industries, aligning with Vietnam’s broader goals for sustainable development. With its business-friendly environment, strategic infrastructure investments, and strong support for foreign businesses, Hai Phong is expected to remain a leading FDI destination, contributing significantly to Vietnam’s position in global supply chains.

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