Haiphong is rapidly emerging as a regional economic powerhouse, driven by a dynamic and expanding private sector that now contributes up to 48% of the city’s economic output. From 2019 to 2023, Haiphong maintained an impressive 12.6% average GDP growth—more than twice the national rate—thanks in large part to private enterprises reshaping its industrial and investment landscape. Key projects like VinFast and Nam Dinh Vu Industrial Park exemplify the private sector’s impact, attracting high-quality foreign investment and enhancing infrastructure. While nearly 40,000 private firms operate in Haiphong, many still face challenges accessing capital, land, and skilled labor, often finding policy support skewed toward state and large-scale ventures. With the backing of Party General Secretary To Lam, who called the private sector “the most important driving force,” and the formation of the Haiphong Business Association, the city is actively fostering a more inclusive and supportive environment to empower SMEs, promote innovation, and position private enterprises at the core of sustainable, tech-led growth. (ICE HO CHI MINH CITY)

Fonte notizia: Vietnam Investment Review