Hai Phong Aims to Disburse All Public Investment Funds by November

Hai Phong plans to disburse all public investment funds allocated for 2026 by November to support its target of at least 13% growth in gross regional domestic product (GRDP) for the year. At a regular September meeting on socioeconomic conditions in the first three quarters and priorities for the fourth quarter, Chairman of the Hai Phong People’s Committee Đỗ Thành Trung called on departments, local authorities and businesses to accelerate their work and address delays.

In the first three quarters of 2026, Hai Phong’s GRDP is estimated to have grown 12.08%, ranking third in Vietnam and marking its highest growth rate for the period in nearly six years. The industrial production index rose 15.23%, including a 15.36% increase in processing and manufacturing. Exports are estimated at US$43.72 billion, up 12.3%, while imports reached US$34.98 billion, up 16.7%. Cargo throughput at the city’s ports was approximately 156.3 million tonnes, up 11.8%.

Hai Phong is accelerating construction of key projects.（VietVance）

To advance disbursement, Hai Phong has called for a project-by-project review of progress, faster land clearance for key works and action on 151 stalled projects under approved plans. The city government has also called for faster auctions of land-use rights, progress on social housing, industrial real estate and other key projects, and a reduction of at least 50% in the time needed to process administrative procedures related to investment, production and business.

In industry, Hai Phong has set a target of at least 15.5% growth in its industrial production index for the full year. It plans to help major industrial enterprises resolve production difficulties, with particular attention to more than 300 businesses with revenue exceeding VND1 trillion. The city will also advance a plan to revive its shipbuilding industry and prepare to begin construction of three new industrial clusters.

Source: VietVance