Haiphong Aims for US$500 Million in FDI

Industrial zones (IZs) and Economic Zones (EZs) in the northern port city of Haiphong aim to boost both foreign and domestic investment significantly this year.

 

Specifically, they aim to attract US$500 million in foreign direct investment (FDI), a 42 percent increase over last year, while domestic direct investment (DDI) is expected to reach VND8 trillion ($381 million), a 21 percent increase over 2011, said the city's head of IZs and EZs Management Board Pham Thuyen.

 

FDI enterprises operating in the EZs and IZs will strive to achieve $1.38 million in turnover, 20 percent more than last year. An 82 per cent increase in DDI is expected, equivalent to VND10 trillion ($476 million), he said.

 

This year, the global economy is forecast to continue encountering difficulties while the domestic economy will also have a tough year, Thuyen said, adding that the set targets will be achieved because the city has attracted a huge inflow of FDI, especially from Japan.