Hanoi, March 4 -- The northern port city of Hai Phong is finalising procedures to establish a next-generation free trade area this year as the core of its freshly-approved southern coastal economic zone. Set to cover more than 1,000 ha of about 20,000 ha earmarked for the southern coastal economic zone, the area is designed to follow successful models worldwide, aiming to create a favourable investment climate for multinational conglomerates. With its establishment given the green light in early 2025, the zone is also expected to reserve 3,000 ha for a sea port, 4,000 ha for industrial operations, and 1,800 ha for urban facilities. The construction of the zone will cost some 8 billion USD by 2030, and the zone itself is set to attract 40 ...