Hải Phòng expects strong wave of investment from APEC member economies

Hải Phòng expects strong wave of investment from APEC member economies

The northern port city of Hải Phòng expects a strong wave of investment from APEC economies as it is going to host the third meeting of the APEC Business Advisory Council (ABAC III) from July 15-18, said Lê Trung Kiên, head of the Hải Phòng Economic Zone Authority.

The third meeting of the APEC Business Advisory Council (ABAC III) is taking place in Hải Phòng from July 15 to 18. — VNA/VNS Photo Minh Thu

Speaking at a press conference Monday about the upcoming investment promotion conference, themed “Hải Phòng – A Strategic Destination in the New Era”, Kiên announced that the conference will take place on the afternoon of July 15 as part of the ABAC III.

The event will see the participation of ambassadors from leading global economies such as the US, Germany, the Republic of Korea, Singapore, and Japan, along with senior executives from major corporations of APEC members.

During the conference, Hải Phòng will present investment registration certificates for 32 projects and sign seven Memoranda of Understanding, with total committed capital exceeding US$15.6 billion. These projects include investments from Europe and the US, reflecting the growing interest of global investors in the city's business environment and development potential.

According to ABAC III organisers, various sideline activities will take place, including field visits to the Tràng Duệ Industrial Park and Lạch Huyện International Gateway Port. These visits will offer delegates a firsthand look at Hai Phong’s advanced logistics capabilities and high-tech industrial zones.

City leaders will also introduce the proposed Free Trade Zone - a new growth engine offering unprecedented incentives such as preferential corporate tax rates, visa exemptions, long-term residency permits for foreign experts and their families, and simplified investment procedures.

Throughout dialogues, investors will have opportunities to share insights on Hải Phòng’s business climate and propose innovative solutions to further enhance the city’s competitiveness, contributing to the broader economic development of Hải Phòng and the Red River Delta region. 

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