Hai Phong works to draw investment from Taiwan’s electrical, electronic firms

Hai Phong - The Hai Phong Economic Zone Authority (HEZA) on April 19 held a working session with the Taiwan Electrical and Electronic Manufacturers' Association (TEEMA).

TEEMA gathers companies and investors operating in the production of electronic, network, and semiconductor components. The production value of the electrical and electronic industry within the association accounts for up to half of Taiwan's total industrial production value.

At the session, Chairman of Wieson Technologies Co. Ltd. and head of the delegation Hung-Chin Chen said Taiwanese firms highly evaluated the northern port city of Hai Phong’s business environment, especially its convenient transport infrastructure such as seaports, deep-water ports and international airport.

He added that the delegation expected to learn about eco-industrial parks, renewable energy, and the supply of electricity and water in the city. They are also interested in incentives in industrial parks, economic zones, workforce, and labour retention policies.

Le Trung Kien, head of the authority, said Dinh Vu - Cat Hai Economic Zone is now the place where the Vietnamese Government offers the best incentives to investors. It is equipped with a synchronous infrastructure system to serve business activities, such as Lach Huyen deep-water port, a non-tariff zone, and a warehouse area.

There are already two deep-water ports in operation and four others under construction which will soon be put into operation. Currently, Deep C and Nam Cau Kien industrial parks (IPs) are piloting the construction of eco-industrial parks, he said.

According to the official, the city has signed a cooperation agreement with the Hanoi University of Science and Technology to establish a branch in Hai Phong and has a separate training programme to meet requirements of enterprises. Hai Phong also has workforce in the city and in neighboring localities.

The city is building social housing and allocating land for firms to build dormitories for employees, he said, adding that the board will always stand side by side with firms and provide them with all possible support to do business effectively.

Since September 2022, four delegations from Taiwanese firms have come to Hai Phong to explore the local business environment. It is the second time the TEEMA delegation has visited the city.

In October 2022, a delegation from the authority successfully held trade promotion activities in Taiwan, including a seminar attracting over 150 businesses.

At present, Taiwan (China) is investing in 60 projects in Hai Phong with total capital of 1.8 billion USD, of which 27 projects worth 1.6 billion USD are in IPs and economic zones, mostly in the production of electronic components for TVs, computers, industrial gas, machinery, equipment, and packaging.

Last year, their revenue hit 2.5 billion USD and the average income of workers reached over 11 million VND (478 USD) each per month.

The northern city of Hai Phong aims to become a regional and international logistics centre due to its many advantages as a transportation hub for all five types of traffic, including sea, road, air, railway, and inland waterways.

The tourism sector of the northern port city of Hai Phong will focus on developing sports and yacht tourism towards attracting more holiday-makers with high spending power, according to the municipal Department of Tourism.

The northern port city of Hai Phong will strive to welcome 7.5 million visitors in 2023 by strengthening connectivity with domestic and foreign localities in developing tourism products to meet the demand from major markets.