Hải Phòng approves $1 bn LG Innotek semiconductor chip plant

The city of Hải Phòng issued new investment registration certificates and increased capital for 13 projects, totaling about $3.2 billion in foreign investment. Among them is a $1 billion semiconductor chip manufacturing plant to be built by LG Innotek in the city’s free‑trade zone.

The approvals also cover four new industrial zones and nine secondary projects, with two memoranda of understanding on industrial‑zone infrastructure worth roughly $540 million. In the first seven months of the year, Hải Phòng attracted about $3.26 billion in foreign capital, a 71.8% rise compared with the same period in 2025, with industrial and economic zone projects accounting for around 90% of that inflow.