Quang Ninh- Where Investment Opportunities and Values Converge and Diverge

5:19:36 PM | 21/3/2014

Together with Hanoi and Haiphong, Quang Ninh is one of three growth poles of the northern key economic region. Therefore, the province always tends to apply many preferential policies to attract investment and develop business. In 2013, despite numerous economic difficulties, the province still proved to be an attractive investment destination.
Promoting its advantages and impressive results of investment attraction in recent years, Quang Ninh is currently improving the investment environment and seeking strategic partners and investors. The province is actively removing bottlenecks related to administrative procedures, mechanisms, policies, technical infrastructure and social infrastructure. Especially, the province focuses on attracting suitable investors and partners for its industries in order to generate the highest efficiency of investment, with focus given to the infrastructure of transportation systems, industrial parks, supporting industrial zones, high-tech industrial parks, entertainment services and environmental protection. One of important tasks is to draw investment capital for industrial zone infrastructure development to create the best space for investors to locate their projects. Now, the province has four coastal industrial zones (Cai Lan, Viet Hung, Dong Mai and Hai Yen). Specifically, Cai Lan Industrial Park has been fully leased by investors and the others are also places of interests of investors. In 2013, Quang Ninh province-based industrial zones housed 70 projects, 25 foreign-invested projects and 45 domestic investment projects. As many 54 projects went into operation in the year with a total registered investment capital of nearly US$ 700 million and over VND7,800 billion (US$350 million).
Although the result fell short of the estimations in 2013, licensed projects were rated high quality with a total registered investment capital of US$1.3 billion. Among 40 investor delegations visiting the province last year, many were well-reputed world-leading firms like Amata (Thailand), Charmvit (South Korea), Vingroup (Vietnam), Texhong (Hong Kong), and Curzon Delta (US).
According to its foreign direct investment (FDI) attraction orientation, Quang Ninh will place emphasis on attracting Japanese investors expert in supporting industries, transport infrastructure construction, infrastructure construction for economic zones, industrial parks and tourist sites, and service and trade development. Hence, the province has worked out a specific project called "Promoting cooperation and attracting Japanese investment into Quang Ninh" with many strategies, including "cherry blossom diplomacy" which not only creates beautiful products tourism but also strengthens diplomatic, cultural and economic relations and exchanges.
With opening investment attraction policies, especially for specialised industrial zones, Quang Ninh is confident to successfully implement its growth remodelling strategy and economic restructuring scheme to attain sustainable development. With its existing advantages, along with the intensive effort of the entire province, Quang Ninh will continue to gather more investors to spread benefits and new investment opportunities and values. In 2014, the province will strive to successfully attract investment capital from world-leading multinational corporations from Europe, North America, Northeast Asia and the Middle East by diversifying project investment methods like PPP, BT and BOT. Besides, it will capture capital flow directions to have most effective investment promotion and attraction strategies. Quang Ninh hopes to attract US$1.7 billion of investment capital in 2014, including US$1.2 billion from foreign investors and US$500 million from domestic investors.