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At Bridgestone Corporation's tire manufacturing plant
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According to Secretary of the
municipal Party Committee Le Van Thanh, apart from promoting administrative
reform and improving Hai Phong’s investment climate, the city will also focus
on upgrading and developing infrastructure facilities.
He said priority will be given to
investment promotion, high-quality human resources training, project management
and supervision, towards attracting more foreign investors, especially multi-national
economic groups from Japan, the Republic of Korea and Belgium.
Land clearance will be a focus for
the city in 2018, especially in industrial parks (IPs), making it easier for
foreign investors to run their projects in the city, he added.
The meeting heard that Hai Phong
didn’t complete its goal of attracting USD 2.4 billion of FDI in 2017.
The shortage of land funds, the
limited scale of IPs and slow land clearance were blamed for the failure.
FDI projects in Hai Phong mostly
operate in mining, footwear, textiles and the plastic industry.
Hai Phong has welcomed many
industrial manufacturing projects from Japanese investors such as a tire
manufacturing plant worth USD 574.8 million invested by Bridgestone Corporation
and a USD-250-million pharmacy factory of Nipro Pharma Corporation .
It is also an attractive destination
for foreign firms in logistics and real estate.
The city hopes to attract USD 1.2
billion in FDI in 2018, half of 2017’s target.
Source: VNA