A VND4.5-trillion (US$193.6 million) industrial park is set to be built later this year in the northern Vietnamese city of Hai Phong.

The Hai Phong Economic Zone Authority (HEZA) organized a ceremony on Wednesday afternoon to grant an investment registration certificate for the construction of Tien Thanh Industrial Park in Tien Lang District.

Construction of the new industrial park, expected to cost more than VND4.5 trillion, will begin later this year on an area of 410.46 hectares. 

The industrial park is expected to be put into operation before 2025.

Speaking at the certificate handover ceremony, HEZA head Le Trung Kien stressed its determination in ensuring the project’s progress by creating favorable conditions for the developer.

Once completed, Tien Thanh Industrial Park will increase the number of industrial parks in Hai Phong to 15 parks which span a total of 6,074.75 hectares.

In the first six months of 2022, Hai Phong’s industrial parks and economic zones have attracted 21 new foreign direct investment (FDI) projects, taking the total number to 438, while 18 other FDI projects had their capital increased.

The northern city’s FDI capital accumulated since the beginning of the year reached $755.75 million, equaling 56.2 percent over the same period last year and raising the combined investment to $22.07 billion.

In addition, it attracted 195 domestic investment projects with a total capital of $12.57 billion.

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