DOI:
Keywords:
Circular Economy, EIP, Foreign Direct Investment (FDI), Hai Phong, Industrial Development, Sustainability, Sustainable Industrial Parks, VietnamAbstract
This paper analyzes foreign direct investment (FDI) trends in Hai Phong, Vietnam, with a focus on the transformation of its industrial parks towards sustainable development. Using a mixed-methods approach that combines statistical data with stakeholder insights, the study highlights the city’s strategic location, proactive government incentives, and adoption of eco-industrial park (EIP) models as main drivers of its competitiveness. Between 2015 and 2024, Hai Phong attracted more than 1,000 FDI projects with cumulative capital exceeding USD 30 billion, making it the second-largest FDI destination in Vietnam. In 2024 alone, foreign investment inflows into industrial parks and economic zones reached USD 4.35 billion, contributing to an 11% GRDP growth and sustaining double-digit growth for ten consecutive years. Socioeconomic outcomes include a 23.1% increase in the industrial workforce and a 9.5% rise in average monthly income from 2020 to 2023. Sustainability initiatives are advancing rapidly: Deep C Industrial Park pioneered roads built with recycled plastics, Nam Cau Kien developed three industrial symbiosis models, and several parks set targets to source up to 50% of energy from renewables by 2030. However, challenges remain in infrastructure quality, skilled labor availability, regulatory processes, and environmental management, particularly wastewater reuse and rising emissions. The paper concludes with policy recommendations to strengthen infrastructure, workforce skills, regulatory streamlining, and green innovation, positioning Hai Phong as a leading hub for sustainable industrial investment in Southeast Asia.
References
