Deputy PM Hue learns about FDI attraction in Hai Phong

Friday, 2019-01-25 16:00:03
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Deputy PM Vuong Dinh Hue at the working session with Hai Phong leaders. (Photo: VGP)
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NDO - Deputy Prime Minister Vuong Dinh Hue visited the northern port city of Hai Phong on January 25, to learn about the state of foreign direct investment (FDI) in order to develop a new FDI strategy until 2030.

In recent years, Hai Phong has become a destination of many world-leading corporations, attracting US$17 billion in more than 600 projects.

In 2018 alone, the city attracted over US$2.6 billion, three times the amount in 2017.

FDI capital has been a major contribution to Hai Phong’s economic growth but the management of FDI projects outside industrial parks has been ineffective, while the prevention of rogue practices has been ineffective.

At the meeting with the Hai Phong leaders, Deputy PM Hue raised the question of what FDI attraction should focus on and how to attract FDI in line with the intensive growth orientation.

Hai Phong Chairman Nguyen Van Tung suggested that FDI attraction should be selective and focus on important sectors such as advanced technology, supporting industries, renewable energy, and infrastructure development.

He added that the environmental, technological, productivity and land use for FDI projects should be stricter.

Besides Hai Phong, Deputy PM Hue will continue to learn about the state of FDI attraction in a number of other localities.

A new scheme on fine-tuning the policies and enhancing the quality of FDI attraction towards 2030 will be completed and is expected to be submitted to the Politburo for approval in March this year.