Northern Vietnam city receives $15.6 bln in pledged investment capital post-merger

Over $15.6 billion in investment capital was committed for the northern port city of Hai Phong on Tuesday, a record high.

The investments were pledged at an event themed “Hai Phong - A Strategic Destination for the New Era,” the first major international forum held in the city since its merger with Hai Duong province on July 1, 2025.

A record-breaking investment milestone

Specifically, Hai Phong leaders granted investment registration certificates for 32 projects and signed seven MoUs, totaling over $15.6 billion in pledged capital, with the witness of State President Luong Cuong and over 1,000 local and international delegates.

Key projects include those developing industrial parks such as Tan Trao, Ngu Phuc, Thuy Nguyen, Tran Duong-Hoa Binh, Tien Lang Airport, Binh Giang, Hoang Dieu, and Kim Thanh 2.

These projects, to be built at the cost of nearly $10 billion, aim to form a hi-tech, mega industrial complex, generating tens of thousands of jobs and accelerating urbanization and socio-economic development.

The Lach Huyen Port terminals 9, 10, 11, and 12 projects, with nearly $1 billion in investment capital, will significantly enhance Hai Phong’s logistics and customs clearance capacity, affirming the city's status as a regional logistics hub.

High-tech FDI projects and MoUs on infrastructure and urban development worth nearly $5 billion reflect a strategic shift toward quality, deep-investment projects and open new opportunities for deeper partnerships between Hai Phong and strategic investors.

“The $15.6 billion committed today is not only a milestone in FDI volume but a strong message about Hai Phong's openness, organizational capacity, and growing international reputation as a new growth pole in Asia,” said Le Tien Chau, the city's Party chief.

Hai Phong set to become industrial mega-city

A key highlight of the conference was the official announcement of Resolution No. 226/2025/QH15 of the National Assembly, passed on June 27, 2025, which grants Hai Phong special pilot mechanisms and policies for its development.

The resolution introduces six policy groups with 41 distinct mechanisms aimed at removing institutional bottlenecks and creating a stable, transparent, and attractive investment environment.

President Luong Cuong, in his address, praised Hai Phong's achievements, particularly its consistent double-digit GRDP growth over the past decade. He highlighted the resolution’s significance, especially the pilot establishment of a free trade zone, calling it a "runway" for Hai Phong to take off.

From the investors’ perspective, Pham Hong Diep, chairman of Shinec Corporation, noted that the merger of two major industrial hubs in northern Vietnam - Hai Phong and Hai Duong - means Hai Phong is no longer just a coastal city, but now a mega industrial-service-logistics metropolis with a population of over 4.6 million, a natural area of more than 3,194 kilometers, and some of the best infrastructure, workforce, and land reserves in the country.

“The influx of capital immediately after the merger proves Hai Phong’s irresistible investment appeal,” he noted.

Reaffirming investor confidence, Chairman of the Hai Phong People’s Committee Le Ngoc Chau stated that municipal authorities are committed to building a pro-business government that best serves investors and businesses.

“We will continue to invest in strategic transport infrastructure, ensure transparency in administrative procedures, and measure our performance by investor satisfaction, making Hai Phong a reliable long-term partner for global investors,” he added.

The conference, themed “Hai Phong - A Strategic Destination for the New Era,” formed part of the third meeting of the APEC Business Advisory Council (ABAC 3). The event drew 1,000 delegates, including 250 business leaders and representatives from international organizations across 21 APEC (Asia-Pacific Cooperation) economies.