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(VEN) - The Hai Phong Department of Planning and Investment said that investment capital in Hai Phong has increased an average of 16.2 percent per year to reach more than VND110.404 trillion in the period from 2006-2010.
Last year, despite difficulties caused by the global financial crisis and economic downturn, investment in the city came to VND27.41 trillion, including more than VND15.258 trillion managed by local authorities, almost VND3.891 trillion worth of foreign direct investment (FDI) and VND8.261 trillion managed by central authorities. Investment in Hai Phong is expected to reach about VND30 trillion in 2010 including VND15.94 trillion managed by local authorities, VND4.5 trillion worth of FDI and VND9.56 trillion managed by central authorities.
By the end of 2009, there were 17,640 businesses operating in Hai Phong in accordance with the enterprise law, 140 of which are state-owned enterprises and the remainder is privately owned, limited liability and joint stock companies.
Hai Phong wants to improve the quality of investment in the city. It will continue developing textile/garment, leather and footwear, shipbuilding and ship repair, precise mechanical, electronics and new material industries in addition to the production of products as import substitutes and workforce training.
The Hai Phong Department of Planning and Investment gives special priority to projects that make use of local resources and serve the city's development demands like high quality workforce training for new, hi-tech industries development. It also gives priority to establishment of industrial zones, which are designed for textile/garment, mechanical, and shipbuilding and ship repair industries, and tourism development.
Investment in a support industry to form a system of high added-value enterprises in a certain region to reduce investment cost and improve product competitiveness is a priority for the future.
The department said that it will focus on attracting investment for the Dinh Vu - Cat Hai economic zone to develop this economic zone into an international economic and trade exchange center in the north in particular and the country as a whole. Hai Phong targets to have 90 percent of all city-based industrial enterprises moved to central industrial zones.
The department said that the city spent VND10 billion to encourage businesses to apply advanced quality management systems while providing indirect assistance for businesses in trademark advertisement, high quality technology application, scientific and technical information provision, trade promotion center establishment, and signing contracts with domestic and foreign partners.
The city has established a steering committee for international integration and annually sets aside funding for assisting businesses to improve their competitiveness in the context of international integration. It will continue investing and encourage investment in infrastructure development to attract more investment from domestic and foreign businesses./.
By Nguyen Hoa
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