Deputy Prime Minister Trần Hồng Hà addresses the event. — VNA/VNS Photo

HẢI PHÒNG — The Southern Coastal Economic Zone of Hải Phòng has officially come into being, expected to broaden the development space and growth momentum for the northern port city.

The zone establishment decision was announced at a January 16 conference which also saw the presentation of investment registration certificates to 11 projects in local industrial and economic zones.

The Hải Phòng Southern Coastal Economic Zone, located in the southeast of the city, covers 20,000 hectares, including 2,909 hectares of sea encroachments. It is designed as a multi-sector world-level economic zone, focusing on high-tech industry, modern logistics services, smart urban areas, eco-tourism and a pilot free trade zone.

It is expected to become a new growth driver and provide a stepping stone for Hải Phòng to affirm its position as a maritime economic hub, an international logistics centre, and an important growth engine for the region and the country at large.

By 2030, the zone is set to contribute VNĐ550 trillion (approximately US$21.7 billion) to the State budget and generate 301,000 jobs.

In his address, Deputy Prime Minister Trần Hồng Hà described the establishment of the Hải Phòng Southern Coastal Economic Zone as a historic milestone for the city, generating new growth opportunities. The move aims to help transform Hải Phòng into a modern, smart and sustainable port city as in line with the Politburo’s Resolution No 45-NQ/TW, dated January 24, 2019, on the building and development of Hải Phòng through 2030 with a vision toward 2045.

Not only an economic zone, it also serves as a symbol of Hải Phòng city’s aspiration to move forwards and a space for innovation, scientific and technological advancement, and sustainable development, Hà said.

He expressed his confidence that with strong support from central and local authorities and active participation of investors and businesses, the economic zone will quickly become operational and help elevate Hải Phòng to a new height.

Chairman of the Hải Phòng People’s Committee Nguyễn Văn Tùng called for continued support from the Government, particularly in creating tailored mechanisms, policies and incentives to attract investment.

He proposed ministries and central agencies accelerate the assessment and submission of a master plan for this zone for approval while assisting the city with investment attraction and project implementation. He also asked investors and businesses to join hands with the city to develop this economic zone.

In 2024, Hải Phòng city achieved 11 per cent growth in gross regional domestic product (GRDP), with the industrial sector rebounding strongly and posting a 15 per cent increase in the industrial production index.

Lê Trung Kiên, head of the Hải Phòng Economic Zone Authority, highlighted Hải Phòng as one of Việt Nam’s top destinations for foreign investment.

The city has attracted 1,000 foreign direct investment projects from 42 countries and territories, totalling $32.6 billion. Additionally, domestic investments amount to 231 projects worth $13.7 billion, primarily concentrated in manufacturing and processing industries. — VNS