Hai Phong City’s development of the southern coastal economic zone is to create room for breakthroughs, ensuring the city’s future development in the next 10-20 years.

To concretize Resolution 45 of the Politburo, “Developing coastal economic zones “, contributing to socio-economic development and ensuring national defense and security in the Red River Delta region by 2030, with a vision to 2045, Hai Phong City is establishing and developing the southern coastal economic zone, including the free trade zone model, which is a suitable space to apply new mechanisms and policies to promote economic development.

The airport, port, and new industrial zones are being designed to be located in the southern coastal area of ​​Hai Phong City. The remaining 22,000 hectares of Hai Phong are being designed by the city to develop a southern coastal economic zone with an ecological design, in line with the National Strategy on Green Growth.

Mr. Le Trung Kien – Head of Hai Phong Economic Zone Management Board said: “The eco-economic zone combines industry, urban areas and Nam Do Son deep-water port. In the economic zone, following the direction of the Politburo, a new generation free trade zone will be built with outstanding mechanisms and policies, decentralization, authorization, creating attraction for domestic and foreign investors to invest”.

Hai Phong City’s development of the Southern coastal economic zone is to create room for breakthroughs, ensuring the city’s future development in the next 10-20 years. In the near future, Dinh Vu – Cat Hai economic zone, one of the main driving forces attracting investment capital to Hai Phong in recent years, has reached an occupancy rate of nearly 80%.

“Our industrial parks in Dinh Vu – Cat Hai Industrial Park have attracted nearly 5 billion USD in total FDI thanks to the sustainable development model. Currently, I am very happy that Hai Phong City has decided to develop the Nam Hai Phong economic zone according to ecological industrial standards”, Mr. Bruno Jaspaert – General Director, DEEP C Industrial Park Complex shared.

Developing the Southern coastal economic zone is one of the main solutions to help Hai Phong City soon complete its goal of becoming a modern international logistics service center by sea, air, highway, and high-speed railway. Foreign investors also have high expectations for the future development of the city.

Mr. Hosoki Eiichi – General Director of JX Nippon Oil & Energy Vietnam Company said: “We chose Hai Phong City to invest because Hai Phong has a deep-water seaport, good regional traffic infrastructure… We hope the city will continue to develop in a direction favorable to investors”.

When put into operation, the new coastal economic zone is expected to play a connecting role with neighboring economic zones, forming a chain of coastal economic zones, serving as a driving force for the development of the entire Red River Delta.