THE MOST BREAKING POTENTIAL AND DYNAMIC CITY HAI PHONG

POPULATION – 2 MILLION (2019 DATA)

IN WORKING AGE – 1.2 MILLION (60%)

AREA – 152,743 HA

CONNECTIVITY – 100 KM NORTHEAST OF HANOI

FDI INFLOW +770 PROJECTS OF 18.7 BILLION USD CAPITAL

Located at a strategic location, Hai Phong’s transport infrastructure needs to be developed synchronously and modernly, promoting regional and international links, thereby being the foundation for the economic development

Located in the development triangle Hanoi – Hai Phong – Quang Ninh

Promote linkages with Northeast coastal localities

Economic corridor between Vietnam – China 

Currently and in the future, Hai Phong’s transport infrastructure is promoted to invest and connect on all four roads: road, railway, waterway, air lines.

Hai Phong has 3 economic pillars: Industrial, tourism, and sea ports. 

The city’s Industry develops in both size, quality and speed with the key industries being high-tech industries: Automobile manufacturing; machinery manufacturing; electronics, informatics and high-tech products

Special attention should be paid to promoting seaport development and logistics industry, towards turning Hai Phong into a center connected with domestic and foreign markets where added value is produced instead of merely being a center for transshipment of goods; and investment  should be prioritized to the renewable energy and new marine economic sectors.

At the moment, the tourism of Hai Phong is also being focused with so many policies that help its tourism grow. The expanding of the projects, facilities, infrastructure are clear proof for that. 

A VISION Haiphong holds a special importance in the socio-economic development of Vietnam and its Northern region. It is an important port city, the industrial center, the largest seaport in the North of Vietnam, and also an economic, cultural, medical, educational, scientific, commercial and technological center in the Northern coastal region. Haiphong’s recent exceptional momentum of development is attributed to the complete infrastructure upgrade, numerous tax incentives and strong governmental support.

Based on the above available potentials, Hai Phong’s economy has been developed, leading to the flow of residents and immigrants from other cities as well as from abroad to live and work. 

FOREIGN AND DOMESTIC FDI MAGNET

Hai Phong is transforming into a trade gateway to facilitate world-class land, air, and sea transport. The ratification of the EU-Vietnam Free Trade Agreement (EVFTA) and the Comprehensive and Trans-Pacific Partnership (CPTPP) will strengthen Vietnam’s economic connections to global supply chains. German car parts maker ZF Friedrichshafen was one of the firsts to relocate to Hai Phong, followed by South Korea electronics manufacturers LG and Samsung and adhesive manufacturer Tesa. Microsoft, Apple, and Sony assembly partner, Pegatron from Taiwan, has plans to invest USD 1 billion into Hai Phong.

Domestic firms are also committing billions to Hai Phong. Vinfast, automotive startup manufacturer and subsidiary of private conglomerate Vingroup, is constructing a large-scale manufacturing plant in Hai Phong to produce cars and electric vehicles. Meanwhile, Vietnamese conglomerates – Vingroup, Sun Group, and Gelexmico will pour USD 1 billion to transform Hai Phong into an international tourism destination – “The Shenzhen of Tomorrow.” Shenzhen’s resale market was the most lucrative property market across China last year. With an extremely tight residential supply and room for growth, Hai Phong’s property market has strong prospects for growth.

Therefore, resulting in a large demand for housing, long-term rental, investment, operation, and resort… Hai Phong has become an attractive destination for real estate giants, homeowners, and investors all over the world to launch many projects. However, there are only a handful of projects that foreigners can buy, and there are certain legal restrictions that foreigners need to be aware of. For example, the purchase of real estate by foreigners in Vietnam will be in the form of a lease-purchase with a term, foreigners can only buy directly from the Investor or buy through transfer from a foreign company or different individuals.