November 21, 2023 | 09:00 GMT+7

Hai Phong to boost trade links with foreign businesses

Quoc Cuong - Dang Hung

Northern port city had over 900 effective FDI projects from 42 countries and territories as of end-October.

Participants at the trade connection conference in Hai Phong.
Participants at the trade connection conference in Hai Phong.

The Hai Phong City Department of Industry and Trade and the Ministry of Industry and Trade’s Asia-Africa Market Department have jointly organized a conference on trade connections between enterprises in the northern port city and Chinese, Indian, and South African enterprises.

The move aims to expand export markets for Hai Phong’s key products, Deputy Minister of Industry and Trade Phan Thi Thang said.

It should continue paying due regard to and prioritizing resources for trade promotion, she added, and help businesses expand and diversify export markets.

“Besides major markets like China and traditional markets such as North Asia and ASEAN, it is necessary to utilize markets with space and potential remaining, including Africa and South Asia,” Deputy Minister Thang said.

According to Deputy Chairman of the Hai Phong City People’s Committee Nguyen Duc Tho, as of the end of October the city had over 900 effective FDI projects from investors in 42 countries and territories with total registered capital of nearly $30 billion.

Of these, 163 projects were from Chinese investors and seven from Indian investors.

Director of the city’s Department of Industry and Trade Nguyen Van Thanh said mainland China and Hong Kong (China) are its leading export markets while India is among its ten largest trade partners in Asia.

South Africa is the second-largest trade partner and second-largest export market for Hai Phong in Africa. However, export value remains modest, at $1.2 million annually.

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