Hai Duong Improves the Quality of Attracting Foreign Direct Investment

With 450 foreign direct investment projects with a total registered investment capital of over 8.36 billion USD, Hai Duong is becoming a destination for foreign investors to come and set up company in Hai Duong.

In 2019, the socio-economic situation of Hai Duong continues to be stable, developed and completed, exceeding 11/16 targets set out in the plan. Gross domestic product of the province is estimated to increase by 8% compared to 2018.

In the field of attracting investment, according to Hai Duong Department of Planning and Investment, up to November 2019 in the province has granted 60 new projects with a registered capital of 428.1 million USD (27 projects outside industrial parks, with capital of 175.1 million USD; 33 projects in industrial parks with capital of 253 million USD), an increase of 76% compared to 2018. It is expected that by the end of 2019, the province will grant 61 new projects with total registered capital of 446.1 million USD, up 60% compared to 2018.

The projects focus on manufacturing high-tech products, electrical products and electronic components, automobiles, cement, steel, textiles, manufacturing, precision engineering equipment.

The point of recognition is that the scale of investment projects is quite even, reaching 7 million USD/project. Some projects have good capital scale such as paper manufacturing factory (40 million USD); Magnets Project Ferrite Union Materials (22.7 million USD); George Glory Leather and Footwear Production Project (37 million USD); BW Hai Duong Industrial Development Project (32.2 million USD); Tinh Loi Garment Project (39 million USD).

In 2019, there are 13 countries and territories having investment projects in the area. In general, investors coming to learn and invest still focus on some familiar countries such as Hong Kong, Korea, China, Samoa, Japan, Singapore, British Virgin Islands, Seychelles…

It can be seen that Hai Duong province is increasingly an attractive destination for foreign investment.

The attraction of FDI projects has contributed significantly to the mobilization of Hai Duong’s total social investment capital in socio-economic development, job creation and income generation for Hai Duong workers; ensure social security, reduce poverty, increase revenue for local budgets.