Deputy Prime Minister Lê Tiến Châu (middle) launches the development of the Hải Phòng Free Trade Zone in the port city of Hải Phòng on Thursday. — VNA/VNS Photo Hoàng Ngọc

HẢI PHÒNG — The northern port city of Hải Phòng on Thursday announced the Prime Minister’s decisions on the locality’s economic zones, and officially launched the Hải Phòng Free Trade Zone, marking the start of a new phase of development.

Addressing the event, Deputy Prime Minister Lê Tiến Châu said this is an invitation for investment in Hải Phòng, as well as a commitment to action by the Government and the municipal authorities to domestic and international business communities and investors.

He congratulated the Party Organisation, authorities and people of Hải Phòng on the milestone, while commending the city's proactive preparations, close coordination of ministries and agencies, and support of the business community in deploying new economic models.

He said the 14th Party Central Committee's third plenum had adopted a resolution on reforming Việt Nam's development model, aimed at shaping the national development model through 2045 and beyond.

According to the Deputy PM, Hải Phòng is well positioned to take the lead in renewing the country’s growth model. Following its July 2025 merger with Hải Dương Province, the city has become one of the largest economic hubs in the country, with an expanded development space and direct connectivity between industrial and agricultural production regions, and urban areas in the west with the seaport and logistics system in the east.

Châu noted that the National Assembly has approved a pilot mechanism comprising six groups of 41 special policies for the city, while additional preferential mechanisms are expected after the Law on Urban Development takes effect. He said these policies will enable Hải Phòng to turn its geographical and infrastructure advantages into strengths in governance and implementation.

According to the Deputy PM, the 5,300-ha Hải Phòng Specialised Economic Zone, established under the Prime Minister's Decision No. 288/QĐ-TTg dated February 12, 2026, will develop high value-added industries and services driven by science and technology, with a focus on artificial intelligence, robotics, big data, chemicals, and research and development.

Meanwhile, the PM approved the master plan for the Southern Hải Phòng Coastal Economic Zone to 2050 under Decision No. 431/QĐ-TTg dated March 14, 2026. Covering about 20,000ha, the zone will integrate industrial parks, urban areas, services, seaports and logistics infrastructure, he said.

These development spaces are expected to complement one another and create a unified economic ecosystem capable of linking manufacturing with international trade, attracting investment and technology, strengthening the competitiveness of Vietnamese enterprises, and positioning Hải Phòng as a strategic growth pole for the Red River Delta, the northern coastal region and the country at large, Châu stressed.

However, the Deputy PM stressed that expanding the number and size of economic zones alone would not guarantee growth, warning that overlapping functions and poorly coordinated planning could lead to inefficient investment and internal competition.

He called on the city to develop an integrated strategy for its economic zones and free trade zone, clearly define the functions and priority sectors of each zone, establish a unified investment promotion mechanism, and shift from quantity-based to quality-driven investment attraction while ensuring green and sustainable development.

At the ceremony, the municipal authorities granted 13 investment registration certificates, and signed two memoranda of understanding (MoUs) on cooperation with businesses, with total registered and committed capital exceeding US$3.1 billion.

According to Secretary of the municipal Party Committee Lê Ngọc Châu, the city is home to more than 1,868 FDI projects from 42 countries and territories with combined registered capital of over $54 billion, accounting for nearly 10 per cent of Việt Nam's cumulative FDI.

Hải Phòng has maintained double-digit economic growth for 11 consecutive years. In the first half of 2026, its gross regional domestic product (GRDP) expanded by 11.33 per cent – the highest in five years – ranking third nationwide and first among the country's centrally-run cities. — VNA/VNS