With second-fastest GRDP pace, Hải Phòng continues to lead regional growth

With second-fastest GRDP pace, Hải Phòng continues to lead regional growth

Backed by the concerted efforts by the political system, businesses and residents, the city recorded strong results in economic expansion, budget revenue, production and services, investment attraction and social security.

Producing steel coils for export at the JFE Shoji Hải Phòng Steel Co. Ltd, a Japanese-invested enterprise at the VSIP Hải Phòng Industrial – Urban Complex. — VNA/VNS Photo

Posting the second highest GRDP growth nationwide last year, Hải Phòng city continued to show strong economic momentum, reinforcing its role as a growth powerhouse in northern Việt Nam and a key driver of regional development.

Last year marked a turning point in administrative reform, with the merger of Hải Phòng City and Hải Dương Province into a new administrative unit. The move expanded development space, optimised resources and combined the strengths of both localities, positioning the area as a major growth hub with spillover effects for the North and nationwide. 

Despite intertwined opportunities and challenges, Hải Phòng maintained a fast growth pace while ensuring stable operations of the administrative apparatus. Backed by the concerted efforts of the political system, businesses and residents, the city recorded strong results in economic expansion, budget revenue, production and services, investment attraction and social security. 

According to the municipal statistics office, Hải Phòng’s GRDP last year rose about 11.81 per cent year on year. While still below the target of 12.35 per cent, this result placed the city first among centrally governed cities, second nationwide, and second in the Red River Delta (after Quảng Ninh Province with 11.89 per cent), reflecting sustained double-digit growth over many years and continued improvements in the investment and business environment.

Following the merger, Hải Phòng has become the largest industrial hub in northern Việt Nam. The industrial production index increased 15.11 per cent last year compared to 2024, driven by key sectors such as electronics (17.12 per cent), electrical equipment (14.55 per cent) and motorised vehicles (28.94 per cent).

Trade and services also expanded strongly. Total retail sales of goods and services grew by an estimated 15.17 per cent, transport and logistics revenue increased 15.12 per cent, while tourism stood out with visitor numbers rising about 25.08 per cent from a year earlier.

Foreign direct investment remained robust, up 13.22 per cent year on year. By December 31, last year, the city had attracted over US$2.88 billion in new and additional FDI, bringing the cumulative total to $51.1 billion of 1,794 valid projects.

Secretary of the Hải Phòng Party Committee Lê Tiến Châu said the 2025 results reflected renewed leadership thinking, decisive action and broad social consensus, providing a solid foundation for the city to enter a new development phase.

For this year, Hải Phòng has set a GRDP growth target of around 13 per cent. The city will prioritise science, technology and innovation, strategic infrastructure, port and logistics development, clean energy, and high-quality tourism services, while deepening administrative reform, digitalisation and regional connectivity to strengthen its position as a modern, sustainable port city and a leading economic centre. 

Bizhub