Hai Phong City, a major industrial hub in Vietnam, is embracing green growth as a necessity for sustainable development.

This shift aims to create new competitive advantages and expand development opportunities, according to Bui Ngoc Hai, Deputy Head of the Hai Phong Economic Zone Management Board.

Mr. Hai emphasized on the sideline of Vietnam Connect Forum 2024, whose theme is on green and sustainable growth, that Hai Phong's commitment to environmentally conscious industrial development. The city prioritizes high-quality investment projects and discourages those that could harm the environment.

"We aim to attract FDI with a focus on developing a circular ecosystem and industrial symbiosis," Mr. Hai said. "While there may be challenges, we are eager to collaborate with international partners to achieve our green development goals."

Bui Tien Phong, Deputy Director of the Hai Phong Department of Planning and Investment, underscored the government's dedication to green growth initiatives, reflected in the National Strategy on Green Growth.

Hai Phong, as a top-ranking province in the Provincial Green Index (PGI), is actively implementing this strategy and is among the three locations chosen for piloting green development.

To attract green-focused investment, the city aims to secure $2-2.5 billion in FDI during 2024. With $253 million already attracted in the first quarter, officials remain optimistic about achieving this target.

Hai Phong's Advantages for Green Investors

Standing Vice Chairman of the Hai Phong City People's Committee, Le Anh Quan, highlighted the city's impressive infrastructure and consistent economic growth as key attractions for FDI. Hai Phong boasts a modern transportation network, a thriving seaport system (the largest in Northern Vietnam), and consistently high FDI inflows.

With the recent approval of Hai Phong's General Planning adjustment to 2040 (with a vision to 2050), the city positions itself for even more sustainable development.

Mr. Hai reassured investors about streamlined investment procedures, emphasizing the one-stop mechanism in the Hai Phong Economic Zone.

Future Vision: Coastal Economic Zone

Hai Phong envisions establishing a new coastal economic zone with a strong emphasis on sustainability and cutting-edge economic sectors.

This zone, modeled to exceed the success of the existing Dinh Vu - Cat Hai economic zone, will feature a free trade zone, a deep-water port, an international airport, and a coastal highway. It aims to attract top-quality investors in industries such as semiconductors, electronics, and education, focusing on green, digital, and circular economic models.

Hai Phong's strong leadership, strategic planning, impressive infrastructure, and commitment to green growth solidify its position as a highly attractive destination for sustainable foreign direct investment.