The northern port city of Hai Phong licensed five foreign-invested projects worth nearly US$1.59 billion in the third quarter of this year.

Nomura Hai Phong Industrial Zone Development Corporation (NHIZ) is one of the most attractive destinations for FDI projects in the northern port city of Hai Phong.

According to the latest report of the Hai Phong Economic Zone Management Board, of the new foreign-invested projects, the most significant was the $1.5 billion one invested by LG Electronics from the Republic of Korea.

The four other foreign-invested projects were King Plastic Pte Ltd and Dongbu Singapore Pte Ltd (both from Singapore), IML Technology (Indonesia) and Knauf International (Germany).

The management board also granted investment certificates to three domestic projects with a total registered capital of over VND290 billion ($13.8 million).

In addition, the city authority agreed to add $25.1 million to the investment capital of seven ongoing foreign-invested projects.

In the first nine months of this year, the Dinh Vu-Cat Hai Economic Zone in the city attracted 13 foreign-invested projects valued at $1.776 billion and 11 local-invested ones, worth VND1.765 trillion ($84 million).