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  • News in Vietnam
  • 7 July 2022

What makes Hai Duong desirable for Korean businesses to invest in energy and logistics?

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Recently, the Secretary of the Provincial Party Committee and the Chairman of the Hai Duong Provincial People’s Council met with Hanwha Energy Corporation Vietnam (Korea) Co. and logistics leaders.

Hai Duong is one of the provinces with the most favorable location in Vietnam, near the country’s major economic centers. Investing in logistics and energy here has attracted large enterprises in and around the world overseas to seek, support, and develop markets. That is also one of Hai Duong’s development strategies. This potential land has become the energy and logistics center of the North, a promising future.

In addition, Hai Duong has also gradually completed the regional planning, integrating many locations that can produce strengths in energy production and investing in logistics so that They can adjust it to suit the project scale.

Currently, the province is also interested in building industrial complexes that connect investors so that they can find partners in the field of production and business activities. At the same time, the province has also implemented a plan to build many traffic projects, creating synchronous transport links within the area and inter-provincial, convenient for transporting goods. This strategy was effective and attracted many investors. The most prominent are Korean enterprises. They want to learn and research projects on energy and logistics in this place.

In the period 1987-1990, Hai Duong had only 2 FDI projects, with a total capital of 6.9 million USD, and in the period 1991-1996, 16 projects, with an attractive amount of investment capital, reached 448 million USD, in the period 2016-2020, Hai Duong has received up to 212 new FDI projects, in addition to nearly 200 FDI projects to increase capital to expand production.

One of the main reasons promoting the increase in investment capital is that the Hai Duong Provincial People’s Committee has committed to creating the most favorable conditions for businesses to access and conduct field surveys. In addition, the province also actively implements a site clearance plan to ensure a clean ground for firms if the project is implemented.

The scale of FDI investment in Hai Duong is relatively even. From 2016-2021, Hai Duong attracted capital flows of up to 3.02 billion USD. Within the first six months, Hai Duong has attracted six new projects with a total registered investment capital of 224.64 million USD in the province. FDI projects mainly focus on the industrial sector. In particular, the leading investment sectors are the production of high-tech, electrical, and electronic components, garment, agricultural products for export, and mechanical engineering for the production and assembly of cars of all kinds.

In recent years, Hai Duong has promoted consulting and promotion activities to call for investment in projects of high technology, new technology, clean technology, supporting technology, and energy-saving quantity and new products in the province. (Source: baomoi)