Hai Duong attracts domestic capital

Trillion dollar projects

In August 2024, the Standing Committee of Hai Duong Provincial Party Committee agreed on the investment policy, assigning the Party Committee of the Provincial People's Committee to direct the Provincial People's Committee to implement the logistics port project in Minh Hoa commune, Kinh Mon town. This project is invested by Duc Duong Company Limited with a total capital of more than 1,400 billion VND, using about 34.6 hectares of land in Minh Hoa commune (Kinh Mon).

The project will build a logistics service center, contributing to the development of the province's logistics services with comprehensive, high-quality services. Priority will be given to serving container ports, import and export goods, agricultural products and bulk materials (coal, ore, construction materials, etc.). Logistics services will clear about 280,000 TEU of containerized goods/year, 1 million tons of bulk goods/year. The project has 3 petroleum and cargo wharves, a 48,000 m2 petroleum warehouse.³and a 3.3-hectare mixed-use commercial service area.

Last October, the Provincial People's Committee also approved the investment policy and approved Vietnam National Shipping Lines as the investor to implement the Ninh Giang Inland Water Port Project with a scale of more than 27 hectares in the areas of Hong Phuc and Kien Quoc communes, now Kien Phuc commune (Ninh Giang). The total expected investment capital is more than 1,496 billion VND, of which more than 448.9 billion VND is the investor's own capital and nearly 1,048 billion VND is borrowed capital. The project's operating period is 50 years.

Previously, in early January 2024, the Provincial People's Committee approved the investment policy and approved the investor to implement the Hai Duong Trade Center Project. Accordingly, the Hai Duong Trade Center is invested by Tuan Kiet HD Trading and Service Joint Stock Company with a total capital of 1,220 billion VND. Currently, the project is being implemented for site clearance, expected to start construction in early 2025 and be completed and put into use in the fourth quarter of the same year. The investment in the construction of this trade center will form a place for trading, selling goods, providing services, entertainment, cuisine, etc. to serve the lives of people in Hai Duong city and neighboring areas, and neighboring provinces, contributing to the development of the city in particular and the province in general.

The new point in attracting domestic investment in 2024 is that most of the selected projects are quite large in scale and of good quality. Many projects are associated with the development of eco-tourism, spirituality, and health care such as Thanh Long Lake Eco-tourism Project (Chi Linh), Green International Hospital in Lien Hong Commune (Hai Duong City)...

Attractive destination

In 2024, Hai Duong's total registered domestic capital will reach over VND 11,489 billion, an increase of 20% compared to 2023. The province has approved the investment policy of 53 new projects with a total registered capital of VND 8,048 billion. New domestic investment projects focus on the fields of trade, services, industrial park infrastructure, processing, manufacturing of industrial products, agriculture, eco-tourism, etc. This is also the second year that Hai Duong's domestic investment has continuously increased. Investment projects not only make an impression in terms of scale but are also increasingly carefully selected, screened, and appraised in terms of quality.

In order to achieve impressive results in attracting domestic investment, in recent times, Hai Duong has resolutely implemented many synchronous solutions to attract and improve the investment and business environment so that the province is always a reliable and safe "destination" for investors.

In January 2024, Hai Duong organized the announcement of the Provincial Planning for the period 2021-2030, with a vision to 2050, and investment promotion. This is an important milestone for the province to gradually realize its potential and advantages, while orienting the province's investment attraction to managers, investors and the business community. From there, there is a clear orientation on the main pillars in industrial development, key industrial zones; investment attraction portfolio, investment attraction restrictions... This is the "compass" in attracting investment in the province now and in the long term.

In order for infrastructure not to be a bottleneck in attracting investment, in recent times, Hai Duong has focused on implementing many infrastructure systems, especially traffic infrastructure and factories, ready to meet the conditions for serving production and business of enterprises. In 2024, many new traffic projects will be deployed or completed such as the interchange connecting Provincial Road 392, Binh Giang District with the Hanoi - Hai Phong Expressway, the interchange connecting National Highway 5, Kim Xuyen Commune (Kim Thanh)...

In addition, new industrial parks and industrial clusters are also being urgently implemented to welcome investors. In addition to 12 industrial parks currently in operation, the province is determined to clear land and soon build infrastructure for 5 new industrial parks.

In attracting investment, Hai Duong always attaches importance to building a transparent and fair investment environment; actively reforming administrative procedures such as speeding up the processing of administrative procedures on the internet, shortening the processing time for administrative procedures related to the investment and business sector. Currently, the time to issue investment registration certificates for projects not subject to investment policy decisions has been reduced from 15 days to 7 days.

The results of attracting domestic investment in 2024 continue to affirm that Hai Duong is an attractive destination for investors. This is also the driving force for breakthrough, promoting the socio-economic development of the province in the coming time.