In 2023, Hai Duong made a breakthrough in attracting investment by becoming a reputable and reliable destination for many domestic and foreign investors.
Impressive Results
In 2023, Hai Duong recorded a significant increase in total registered foreign direct investment (FDI), reaching $1.136 billion, a 3.1-fold increase compared to the previous year. This is the highest FDI attraction result in the past ten years and also the second time in 35 years that the province’s FDI attraction has exceeded the $1 billion threshold. The province has made a mark not only in terms of total registered capital but also in the size and high technology content of FDI projects that have been carefully screened and evaluated.
While the An Phat 1 Industrial Park (Nam Sach) was still completing its technical infrastructure, Singaporean investor Biel Crystal Private Limited researched and proposed to build a factory costing about $260 million to produce optical equipment and glass. The investor is a partner of large, reputable brands such as Apple, Samsung, LG… Once operational, the project will create jobs for about 14,000 local workers. The investor was granted the investment registration certificate from the proposal at the end of September to the beginning of October. Investors expressed their impression of the guidance and the quick implementation of investment procedures by the agencies and units. This project is relatively large among the 74 new FDI projects invested in Hai Duong in 2023.
2023 is also a successful year for domestic investment (DDI) in the province, with a total capital of 11.675 trillion VND, a 5.6-fold increase compared to the previous year. The highlight of the DDI attraction for the province last year was the investment in developing industrial technical infrastructure. At the same time, investors simultaneously deployed 5 industrial zones, both creating a driving force to promote socio-economic development and preparing all necessary infrastructure conditions to welcome secondary investors.
In March, Dai An Industrial Park Development Co., Ltd. added more than 2.300 billion VND to implement phase 2 of the Dai An Industrial Park expansion project (Cam Giang). The project, covering nearly 228 hectares, will build a traffic system, industrial buildings, warehouses, and production workshops… Just a few months after the construction began, the industrial zone welcomed an FDI project worth nearly $270 million. Deli Group Co., Ltd. (China) leased more than 21 hectares in this industrial zone to build a factory producing various office supplies, household goods, personal electronic computers… It is expected that each year, the factory will supply about 166 million products of all kinds to the market and perform the rights to export, import, and wholesale distribution with a revenue of about $5 million per year.
A new feature in Hai Duong’s investment attraction in 2023 is the close connection between FDI and DDI. Thanks to the implementation of some DDI projects on industrial infrastructure, industrial clusters that foreign investors have studied and learned about the investment environment in Hai Duong.
The pillar of breakthrough
Hai Duong focuses on building infrastructure and technical capabilities to invite investment. To achieve impressive investment attraction results in 2023, Hai Duong has firmly and focused on synchronously implementing solutions to improve the business investment environment and enhance the province’s competitive capacity.
Last year, the role and responsibility of the heads of party committees and governments were promoted in investment promotion. Particularly, investment promotion activities were implemented with focus and priority. Provincial leaders proactively promoted investment in the United States, Japan, France, Belgium, and the United Kingdom to advertise and introduce the investment potential and strengths of the province. Through meetings and interactions with businesses, provincial leaders directly grasped the thoughts and wishes of businesses and promptly directed and resolved proposals and recommendations from businesses. This shows Hai Duong’s goodwill in attracting investment.
Planning is considered the root, the foundation for development, and the promotion of investment attraction. The levels and sectors in the province have urgently and quickly constructed regional planning, subdivision planning, and land use planning… and advised, and contributed opinions and viewpoints for the province’s planning to be completed and approved soon. Thanks to the planning information, businesses have a basis to research, learn, and make investment decisions. In addition, the province has also made efforts to reform administrative procedures and build an optimal, scientific process for receiving and handling investment documents. The work of land clearance and handover to businesses to implement projects ensures progress and requirements.
The proactivity and positivity of the party committees and governments have created a breakthrough in the province’s investment attraction. However, for Hai Duong to attract a good quality capital flow, fundamental solutions are needed to remove bottlenecks and create breakthroughs.
According to the Director of the Department of Planning and Investment, Le Hong Dien, creating an open, favorable, transparent, and safe investment environment will be the “magnet” attracting investors to Hai Duong. Therefore, it is necessary to create goodwill with investors from the smallest deeds so that they can see the goodwill of the province. Only then, Hai Duong can become a reliable, safe investment destination in the province to be truly effective, sustainable, and stimulate socio-economic development.
With the province’s planning recently approved, Hai Duong has a clear direction for the main pillars of industrial development, in key industrial zones. The province has outlined directions for investment attraction and investment restriction… This is the “guiding star” in the province’s investment attraction in the coming time.
Source: Bao Hai Duong
