Hai Phong Poised to Become Maritime Hub with Elite Workforce Development

Hai Phong, a strategic gateway in northern Vietnam, is poised to lead the nation's development as a strong maritime power, leveraging its robust infrastructure and human resource foundations. The city has focused on optimizing port capacity and enhancing the competitiveness of its seaport system, particularly by maximizing the efficiency of the Lach Huyen international gateway port with the operation of new berths. These efforts have resulted in Hai Phong scoring 35.62 out of 40 in port development and operation assessments, significantly surpassing the national average of 21.66. This score reflects the city's emphasis on cultivating an elite and skilled maritime workforce. Economically, Vietnam's trade continues to show strength. Shrimp exports, for instance, reached $478.5 million in August, a 4.2% year-on-year increase, bringing the cumulative total for the first eight months to $3.3 billion, up 12%. The timber and forest product sector has established a comprehensive supply chain, creating approximately one million jobs. In the financial sector, total customer demand deposits from individuals and businesses stood at approximately 2.98 quadrillion VND as of June 30, a 2% decrease from the end of 2025, potentially indicating a shift towards investment or active economic engagement. The Vietnamese Dong (VND) is trading within its band of +/- 5%, reflecting a stable currency policy. Internationally, Vietnam's Halal certification authority has established direct cooperation with Malaysia, aiming to penetrate the global Halal market. US corporations have expressed significant interest and expectations in sectors such as science and technology, advanced manufacturing, energy, infrastructure, and finance, signaling their confidence in Vietnam's economic growth. Vietnam has become Argentina's largest importer of soybean meal in the region. Strengthening ties with Russia also presents investment opportunities, particularly in real estate, especially commercial properties. These developments underscore Vietnam's growing significance in the global economy. Source: VietnamPlus English