Hai Phong to Boost Growth with New Free Trade Zone
Hai Phong, a major manufacturing and logistics hub in northern Vietnam, is set to boost its growth with the establishment of a free trade zone (FTZ). The city aims to increase its gross regional domestic product (GRDP) by 13-14% by 2030 through this project.
The Hai Phong Free Trade Zone will span approximately 6,292 hectares and be developed across three non-contiguous sites. The first site, covering 2,923 hectares, will be located in the Southern Coastal Economic Zone. The second site, situated in the Nam Dinh Vu Industrial and Non-tariff Zones, will cover 1,077 hectares. The third site, on Cat Hai island, will be the largest, covering 2,292 hectares.
The project will be implemented in phases between 2025 and 2030, with an initial focus on the Dinh Vu-Cat Hai area. Hai Phong authorities plan to announce a formal plan to establish the FTZ this year. The FTZ is designed to be a comprehensive hub covering manufacturing, port logistics, commerce, and services, contributing to a significant increase in the city's GRDP.
To manage investments in the FTZ, Hai Phong intends to establish a specialized investment coordination agency. With this strategic move, Hai Phong, already home to over 15 major industrial parks, looks to further solidify its position as a leading manufacturing and logistics hub in northern Vietnam.
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