Hai Phong to build second coastal economic zone

- Tuesday, 19/09/2023, 07:00

The northern port city of Hai Phong plans to develop a 20,000ha coastal economic zone (EZ) in its southern part, said the municipal EZ Management Board.

Hai Phong to build second coastal economic zone -0
An overview of VinFast's factory in Dinh Vu - Cat Hai Economic Zone in Hai Phong City. Photo obtained by VnExpress

Spanning the districts of Do Son, Kien Thuy, An Lao, Tien Lang and Vinh Bao, this will be the second coastal EZ in the city after Dinh Vu-Cat Hai EZ, which was founded in 2008.

The South Hai Phong Economic Zone will house important infrastructure projects including Tien Lang airport, Nam Do Son port, and two logistics centers in Kien Thuy and Tien Lang, along with a port system along the Van Uc river, said Le Trung Kien, head of the management board.

The establishment of the new EZ will help the city optimise the development potential of its existing IPs and the Dinh Vu-Cat Hai EZ, he said.

It aims to leverage existing assets and infrastructure, connecting with neighbouring economic zones like Thai Binh, Quang Yen and Van Don, creating a cohesive network of coastal economic zones that drive the socio-economic development of the entire region.

Hai Phong strategic location as a transportation hub and industrial centre in the Hong (Red) River Delta anchors several key economic corridors, including those from China (Kunming and Nanning) and Vietnamese coastal regions (Quang Ninh, Thai Binh, Nam Dinh and Ninh Binh).

In the past 30 years, Hai Phong has developed 14 industrial parks spanning 6,100 hectares and one 22,540-hectare economic zone, with a 63.8% occupancy rate. These zones have attracted 688 projects totaling 36.32 billion USD in investment.

The Dinh Vu-Cat Hai EZ has so far attracted 31 billion USD worth of investment from large foreign corporations such as LG, Pegatron, Regina Miracle, Fujifilm and Koycera and major domestic companies like Vinfast, Geleximco and Xuan Cau. It has also created around 200,000 jobs.