Hai Phong officially inaugurated its Southern Coastal Economic Zone on January 16, marking a significant milestone in the city’s development.

Spanning 20,000 hectares, this multi-sector economic zone is poised to attract tens of billions of dollars in investment and establish Hai Phong as a leading maritime and logistics hub.

Deputy Prime Minister Tran Hong Ha presented the decision to establish the zone during a ceremony attended by key city leaders.

A vision for international integration

Deputy Prime Minister Tran Hong Ha emphasized that the Southern Coastal Economic Zone embodies Hai Phong’s ambition to elevate its economic and cultural stature.

He urged the city to leverage its economic, political, and cultural advantages while focusing on multi-purpose infrastructure that integrates transportation, energy, water management, and telecommunications systems.

Nguyen Van Tung, Chairman of Hai Phong’s People’s Committee, pledged to implement concrete plans to develop the zone, which is seen as a new growth driver for the city.

According to Le Trung Kien, Head of Hai Phong’s Economic Zone Management Board, the establishment of the zone represents a historic turning point. It is expected to create a new development space and a powerful growth engine for Hai Phong.

Multi-sector economic hub

The Southern Coastal Economic Zone is envisioned as a world-class multi-sector hub, anchored by high-tech industries, modern logistics, smart urban development, ecological tourism, and pilot free trade zones.

The zone includes over 3,000 hectares of seaports with a 12-kilometer coastline, 4,000 hectares for industrial use, 1,800 hectares for urban development, and more than 1,000 hectares for free trade zones.

Projected investment by 2030 is approximately $8 billion, rising to $40 billion by 2040. Annual export-import turnover is expected to surpass $70 billion, with the zone attracting 400,000 workers and providing housing for over 500,000 people.

This economic zone aims to solidify Hai Phong’s position as a leading maritime economy, an international logistics hub, and a critical growth pillar for the region and the nation.

By 2030, the Southern Coastal Economic Zone is expected to become Hai Phong’s primary economic driver, contributing up to 80% of the capacity of the existing Dinh Vu – Cat Hai Economic Zone. It will also play a pivotal role in connecting adjacent economic zones, forming a coastal economic chain that drives regional development.

Economic contributions

Hai Phong currently hosts over 23,000 active businesses, including more than 3,300 new enterprises established in 2024 - a 5.3% increase from the previous year.

Several leading companies operate in Hai Phong, including Hai Phong Port, Tien Phong Plastic, Vinfast, Viet Phat, Dinh Vu Port, LG, and Hoang Huy Group.

These businesses contribute significantly to local revenue, which totaled VND 49.668 trillion ($2.07 billion), accounting for 99.2% of the city’s domestic income.

Among these, non-state enterprises contributed VND 8.107 trillion ($338 million), foreign-invested enterprises (FDI) contributed VND 5.861 trillion ($244 million), and state-owned enterprises contributed VND 2.628 trillion ($109 million). Notably, nine enterprises paid between VND 500 billion and VND 5 trillion in taxes.

Bao Khanh