Hải Phòng plans to form new 20,000ha coastal EZ

September 18, 2023 - 13:38
Hải Phòng plans to form a 20,000ha coastal economic zone (EZ) in the south of the city.
A corner of Đình Vũ-Cát Hải EZ, the first EZ in Hải Phòng. The northern port city is planning to form another EZ in the south. — Photo courtesy of tinnhanhchungkhoan.vn

HÀ NỘI — Hải Phòng plans to form a 20,000ha coastal economic zone (EZ) in the south of the city stretching across Kiến Thụy, An Lão, Tiên Lãng, Vĩnh Bảo and Đồ Sơn districts, according to the municipal EZ Management Board.

This would be the second coastal EZ in Hải Phòng, after Đình Vũ-Cát Hải EZ, which was founded in 2008 and has so far attracted US$31 billion worth of investment and created around 200,000 jobs.

Đình Vũ - Cát Hải EZ attracted large foreign corporations such as LG, Pegatron, Regina Miracle, Fujifilm and Koycera and major domestic companies such as Vinfast, Geleximco and Xuân Cầu.

Hải Phòng's strategic location as a transportation hub and industrial centre in the Hồng (Red) River Delta anchors several key economic corridors, including those from China (Kunming and Nanning) and Vietnamese coastal regions (Quảng Ninh, Thái Binh, Nam Định and Ninh Bình). This newly established economic zone aims to leverage existing assets and infrastructure, connecting with neighbouring economic zones like Thái Bình, Quảng Yên and Vân Đồn, creating a cohesive network of coastal economic zones that drive the socio-economic development of the entire region.

The development of the second EZ would be important for promoting socio-economic development and creating a break though in growth for the Red River Delta, Lê Trung Kiên, head of the Hải Phòng EZ Management Board, said.

In the past 30 years, Hải Phòng has developed 14 industrial parks spanning 6,100 hectares and one 22,540-hectare economic zone, with a 63.8 per cent occupancy rate. These zones have attracted 688 projects totaling $36.32 billion in investment. — VNS