Development Strategy of Hai Phong city to 2020

Author: Hoa Nguyen, MBA.,MA.

Hai Phong, which is located in the Northern Focal Economic region, has a strategic location and huge potential and advantages for development. With 1.507,57 km2 and a population of 1.907.705 people, Hai Phong is the third - biggest - city in Vietnam. Hai Phong is also well known as it has the largest seaport in the country. Over the past years, being aware deeply about the important role of FDI for Hai Phong's development, on September 12, 2011, Hai Phong People Committee announced the essential directive No 26/CT - UBND for fostering FDI in Hai Phong city. This directive indicates detailed duties of relevant local agencies and organizations in getting and supporting FDI within this province. In term of investment perspective, it is necessary to review the decision No 01/2009/NQ-HĐND on economic development towards sea oriented to 2015 and a vision for 2020 in order to find out investment opportunities.

In this decision, six core economic sectors shall be prioritized to develop. First is development of port system, maritime services and maritime transport. Second is development of economic zones, industrial parks and urban areas along the coast. Third is ships and floating facilities building and repairing industry. Forth is fishing economic. Fifth is Marine Tourism  and Sixth is  Islands districts development.
Considering from strategic directions created by Hai Phong People Committee, two important strategies should be remarked since they have provided investors many opportunities to invest.
Firstly, Dinh Vu - Cat Hai economic zone is looking forward being one of the biggest international commercial hubs of the Northern Focal Economic Area and national wide, as well. This plan opens many opportunities for foreign investors to invest in commerce, tourism and logistics services. The links among this hub with other international commercial hubs in ASEAN and Pacific region shall create many business opportunities and promote international trade.
 Secondly, Cat Hai  and Bach Long Vi islands are targeting to become an international tourism and resort center. They are also planning to develop logistics and maritime transportation services. This strategy also suggests investors in looking for investment opportunities in tourism, especially in  ecotourism since Hai Phong has abundant natural resources. In addition, investment in logistics towards  maritime transportation is still a good idea since Dinh Vu - Cat Hai becomes the international commercial hub as already mentioned.
 Aren't you able to wait longer to find your investment opportunities here??? You have your answer, already!!!