US firm studies feasibility of Hai Phong free trade zone
U.S. consulting firm CT Strategies LLC has signed a contract with Vietnam’s L.Q Joton Group to carry out a feasibility study for a free trade zone in Hai Phong city.
Ho Chi Minh City-based L.Q Joton Group expects to build the free trade zone in Tien Lang district, utilizing the advantages of connecting with deep-water seaports in Hai Phong and major roads in surrounding areas.
“Regarding feasibility, we’ll analyze significant factors such as infrastructure, planning, business models and funding,” CT Strategies CEO Andrew Farrelly said at Saturday’s contract signing ceremony.
Representatives of L.Q Joton Group and CT Strategies LLC sign a feasibility study contract, July 8, 2023 in Hai Phong city, northern Vietnam. Photo courtesy of Hai Phong’s news portal.
The port city of Haiphong, northern Vietnam’s logistics hub, is cementing its position as an industrial hub.
In a massive industrialization push, the city administration approved in late June a list of 137 projects calling for foreign investment in the 2023-2025 period. They include 16 industrial parks (IPs), nine logistics centers, and 52 urban development areas.
Of the 16 IP development projects in the list, three in Tien Lang district have the largest land use area: Tien Lang 2 with 500-550 hectares; Tien Lang Airport with 450-550 hectares; and Tien Lang 1 with 407 hectares.
These are followed by three IPs in Vinh Bao district: Vinh Quang with 340-350 hectares; An Hoa with 200 hectares; and Giang Bien II with 350 hectares. Thuy Nguyen, An Duong, An Lao and Kien Thuy districts boast two IP projects each, while Cat Hai and Hai An districts have one each.
Also in late June, LG Innotek, an electronic component arm of South Korea’s giant LG, received an adjusted investment certificate to invest an additional $1 billion in Hai Phong, doubling its investment in the city to $2.05 billion. The new investment is for LG Innotek Vietnam Hai Phong Co. Ltd.
The city is also home to two other LG firms – LG Display Vietnam Hai Phong Co. Ltd. and LG Electronics Vietnam Hai Phong Co. Ltd.
Hai Phong also hosts the headquarters of electric vehicle startup VinFast, a subsidiary of Vietnam's biggest listed company Vingroup.
- Related News
- Read More
Vietnam, US reach agreement on landmark trade deal
Vietnam's Party chief To Lam and U.S. President Donald Trump on Wednesday stated that they welcome the agreement reached by the two countries' negotiating teams on the Joint Vietnam-United States Statement on a Fair, Balanced, and Reciprocal Trade Agreement Framework.
Economy - Wed, July 2, 2025 | 11:28 pm GMT+7
Vietnam's ACV expects 17% profit drop, plans $1.52 bln investment in Long Thanh airport this year
State-owned Airports Corporation of Vietnam (ACV), which operates 22 airports nationwide, expects its 2025 pre-tax profit to decline 17% year-on-year to VND10.53 trillion ($402.56 million) due to foreign exchange losses.
Companies - Wed, July 2, 2025 | 4:08 pm GMT+7
Two mega urban area projects in central Vietnam get greenlight
Two major urban projects in Quang Ngai province's Dung Quat Economic Zone, with a total investment of over VND54 trillion ($2.06 billion), have received in-principle approvals from Deputy Prime Minister Tran Hong Ha.
Real Estate - Wed, July 2, 2025 | 4:02 pm GMT+7
Roadmap for cleaner fuel transition launched for Vietnam’s first oil refinery Dung Quat
Binh Son Refining and Petrochemical JSC (BSR) and PV Gas D, a subsidiary of PV Gas, have signed an MoU on LNG trading principles, marking a significant step in BSR’s roadmap to transition from traditional fuels to cleaner alternatives at Dung Quat Oil Refinery.
Economy - Wed, July 2, 2025 | 3:52 pm GMT+7
EPC contracts signed for Vietnam’s offshore Block B - O Mon gas pipeline
Southwest Pipeline Operating Company (SWPOC), a subsidiary of Vietnam’s state-owned Petrovietnam, on Monday signed EPC contracts for two key packages (PC1 and PC2) of the Block B – O Mon gas pipeline project.
Economy - Wed, July 2, 2025 | 2:01 pm GMT+7
Major Vietnamese developer Sun Group proposes riverfront road, metro line projects in HCMC
Sun Group, a leading real estate developer in Vietnam, is seeking Ho Chi Minh City authorities’ permission to invest in a riverfront road along the Saigon River and a 40-kilometer metro line under the build-transfer (BT) model in the former Cu Chi district.
Infrastructure - Wed, July 2, 2025 | 1:32 pm GMT+7
Vietnam stock market to enjoy favorable 'tailwinds' in H2: experts
While external challenges are persistent, domestic economic stimulus policies will be a key driver helping Vietnam's stock market become more positive in the remaining six months of 2025, according to experts.
Finance - Wed, July 2, 2025 | 8:20 am GMT+7
Agro-forestry-fishery exports rise over 14% in H1
Vietnam’s total agro-forestry-fishery trade in the first half of 2025 is estimated at $57 billion, with exports reaching $33.5 billion, up 14.3% year-on-year, according to the Ministry of Agriculture and Environment.
Companies - Tue, July 1, 2025 | 10:33 pm GMT+7
Banks end magnetic cards, require biometrics for firms from July 1
From July 1, banks across Vietnam have stopped using magnetic stripe cards and now require biometrics for company accounts to prevent fraud and improve security.
Banking - Tue, July 1, 2025 | 10:17 pm GMT+7
Data Law aims to protect data and unlock value
The 2024 Data Law, which aims to regulate the collection, sharing and commercial use of data, creating a trusted marketplace while enhancing personal data protection and cybersecurity, takes effect on Tuesday, July 1.
Companies - Tue, July 1, 2025 | 10:06 pm GMT+7
Thailand attracts large investment in data centers, digital services
The Thailand Board of Investment (BOI) has approved investment applications worth a total of THB 28.6 billion (about $870 million) in digital infrastructure and travel sector projects, as well as incentives for the use of local content in the manufacturing of electric vehicles (EV) and hybrids, as well as electrical appliances (E&E).
Southeast Asia - Tue, July 1, 2025 | 9:55 pm GMT+7
Indonesia launches $5.9 bln EV battery ecosystem
Indonesia held a groundbreaking ceremony on Sunday for its integrated electric vehicle (EV) battery ecosystem in Karawang, West Java province.
Southeast Asia - Tue, July 1, 2025 | 9:49 pm GMT+7
Vietnam construction giant Vinaconex plans to divest 51% stake in northern Vietnam resort developer
Vietnam’s leading construction firm Vinaconex on Monday approved the transfer of its entire 51% stake in Vinaconex ITC, the developer of Cat Ba Amatina urban-tourism project in the northern city of Hai Phong, at a minimum price of VND48,000 per share ($1.84).
Real Estate - Tue, July 1, 2025 | 4:44 pm GMT+7
Gozo Express, Indel Petro launch Vietnam’s first integrated gas and logistics stations
Gozo Express, a Vietnamese logistics startup, has partnered with Indel Petro to launch Gozo Station, Vietnam’s first integrated station that combines gas refueling with parcel drop-off and delivery services.
Companies - Tue, July 1, 2025 | 4:20 pm GMT+7
Vietnam’s state-own telecom MobiFone, Techcombank jointly launch digital payment firm
MobiFone, Vietnam’s third-largest telecom operator, has launched a new digital payment subsidiary in partnership with One Mount Group and Techcombank, according to recent corporate registration data.
Finance - Tue, July 1, 2025 | 4:03 pm GMT+7
Work starts on golf course, liquid cargo port, waste-to-energy projects in northern Vietnam province
A groundbreaking ceremony was held on Saturday for the Con Vanh Golf Course and Ba Lat Liquid Cargo Port projects in the northern province of Thai Binh (now Hung Yen province).
Industries - Tue, July 1, 2025 | 2:37 pm GMT+7
