Monday, 18 Dec 2017
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INVESTMENT

Hai Phong calls for investment in infrastructure projects

Updated at Sunday, 03 Dec 2017, 17:21
The Hanoitimes - The northern port city of Hai Phong is calling for investment in infrastructure projects worth billion dollars.
The projects are a railroad construction to Hai Phong International Port and a professional industrial park for Japanese companies.
The length of the railroad construction to Hai Phong International Port is 57 kilometers and its width is 1.4 meters. The project would run under the formats of public-private-partnership (PPP) and build-operate-transfer (BOT) formats.
The total investment of the project is estimated at US$1.6 billion, part of which will be financed from Japanese official development assistance (ODA) loans. It is expected to be implemented in until 2030 to construct 16.56 kilometers of railway, 26.9 kilometers of bridges, and seven new railway stations.
Total investment of the railroad construction project to Hai Phong International Port is estimated at US$1.6 billion.
Total investment of the railroad construction project to Hai Phong International Port
is estimated at US$1.6 billion.
The main line, which is 35.7 kilometers long, starts at the new Hung Vuong Railway Station (equivalent to Km95+215 of the Hanoi-Hai Phong railway route), goes through Dinh Vu Industrial Zone (IZ) (now known as Deep C IZ), crosses Nam Trieu Seaport, and arrives at Haiphong International Port in Cat Hai Island.
The secondary line, which is 7.78 kilometers long, starts at South Dinh Vu Railway Station (equivalent to Km23+940) and will run parallel with the main line until Km26+337, then turn left towards Dinh Vu Seaport and arrive at Deep C IZ.
After launching, it is estimated to transport 30 million tons of cargo per year by 2020 and 95 million tons per year by 2030.
The second project to call for foreign investment is the professional industrial park for Japanese companies in the north, located on an area of 300-400 hectares in Dinh Vu-Cat Hai Economic Zone.
Earlier, the Hai Phong People’s Committee announced the general master plan of Dinh Vu-Cat Hai Economic Zone (EZ) until 2025. Accordingly, the zone, which has a total area of about 22,540 hectares, will become a multi-sector economic zone of the North Central Coast and the whole country, in order to become an international logistics seaport.
The northern port city of Hai Phong attracted more than US$870 million of foreign direct investment (FDI) during the January-September period. The city expected to lure about US$1.1 billion of FDI in 2017.
The Hai Phong Economic Zone Management Board said industrial parks which are located outside economic zones are facing difficulties in investment attraction as they have received lower incentives.
The board also pointed out limited capacity and experience of a number of investors, along with obstacles in land clearance and compensation, leading to the unexpected number. 
Given this, Chairman of the municipal People’s Committee Nguyen Van Tung has asked agencies and localities to continue the administrative reform towards openness and transparency, build the e-authority and further improve the investment climate. 
He also underlined the need to raise the provincial competitiveness index (PCI) during 2017-2018 and absolutely tackle recommendations of enterprises at monthly business dialogues. 
Le Trung Kien, Director of the municipal Department of Planning and Investment, said the city will focus its budget on key projects and continue to complete local socio-economic infrastructure, especially transport infrastructure. 
Apart from partnering with ministries and agencies to speed up the implementation of major projects, the city will also complete infrastructure in industrial parks and clusters, particularly the Dinh Vu-Cat Hai economic zone, and connect these industrial parks and clusters together.
 
​Phuong Thao
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