Vietnam’s Hai Phong has quickly emerged as an investor’s favorite due to its infrastructure, ports, industrial zones, and strategic location.
Hai Phong is Vietnam’s most promising location for China plus one production. Read more for an analysis on corporate establishment procedures, key industries, and tax incentives available within the city.
On May 6, LG Display Group, a subsidiary of South Korea’s LG Electronics, pledged $1.5 billion USD to establish a screen factory in Hai Phong. Read more for a look into electronics production in Vietnam and how to make the most of potential investments.
In the first quarter of 2014, the northern port city of Haiphong attracted more than US$235 million in FDI. It had 400 FDI projects worth US$8 billion in total registered capital. The projects’ investment areas included support industries, housing construction, services, trade and automobile spare parts manufacturing.
Vietnam is composed of 63 provinces and five centrally-governed cities, which stand on the same administrative level as provinces (namely Hanoi, Ho Chi Minh City, Can Tho, Da Nang and Hai Phong). The General Statistics Office of Vietnam further groups these provinces and cities into eight regions with three key economic zones.
Nov. 17 – The Vietnamese government approved and outlined plans for two new international airports in a meeting chaired by Deputy Prime Minister Hoang Trung Hai on Monday – one in the southern province of Dong Nai and one in the northern port city of Haiphong. Construction on Dong Nai’s Long Thanh International Airport has […]
Oct. 18 – Vietnam’s first wind power turbine production factory, a US$61 million dollar project, was inaugurated at the Nomura Industrial Zone in the port city of Haiphong on October 15. Invested in by General Electric, the factory is the first step of a larger initiative to address growing global demand for clean energy sources.
Sept. 7 – The country’s flag carrier, Vietnam Airlines, has announced it will slash fares on domestic flights by 50 percent from September 15 to October 30. The heavily discounted rates will include routes coming from the capital, Hanoi and the financial center, Ho Chi Minh City. The discounted prices will range from VND400,000 to […]
Aug. 3 – Electronic customs declaration and clearance is now available for trade passing by the Lao Cai border gate beginning August 1. The province is the eleventh one to adopt the process for trading goods.This will make it easier for companies selling goods to China via the Lao Cai border to easily declare customs […]
Apr. 27 – Vietnam will waive visa fees for foreign visitors to the country from August to September as part of the “Impressive Vietnam Grand Sale 2010” campaign. Foreign tourists can claim a refund of value added tax when they buy goods during the two month program. Tourist-related businesses in Hanoi, Danang, and Ho Chi […]