Multiple Opportunities for Quang Ninh Investment Attraction
At the event “Meeting Program of Spring Giap Thin 2024: Quang Ninh – Convergence and Spreading” organized by the Vietnam Chamber of Commerce and Industry (VCCI) in coordination with the People’s Committee of Quang Ninh province on the afternoon of March 8, Mr. Watanabe Shige – Deputy Ambassador of Japan to Vietnam stated that for 6 consecutive years, Quang Ninh has always ranked first in the country in terms of the Provincial Competitiveness Index (PCI). This achievement shows that Quang Ninh is the most potential locality in Vietnam in terms of investment attraction and is receiving global attention.
VCCI President Pham Tan Cong speaking at the event
Quang Ninh’s strengths are demonstrated in transportation infrastructure with a high-speed road system connecting to Hanoi, Hai Phong, and the airport, seaport, and tourism systems. “With such potential, Japanese investment in Quang Ninh is expected to continue to increase in the future,” said Mr. Watanabe Shige – Deputy Ambassador of Japan to Vietnam, emphasizing that to attract sustainable FDI capital, Quang Ninh still needs to focus on solutions, including developing infrastructure such as stable infrastructure for electricity supply, water supply, and communication systems, which are important requirements for investors when coming to the locality. In addition, Quang Ninh also needs to simplify administrative procedures and focus on training high-quality human resources to meet the production and business needs of investors.
Commenting on the investment environment of Quang Ninh from a business perspective, Mr. Nguyen Van Nhan – General Director of Amata City Ha Long said that, in addition to the advantages of geographical location and transportation infrastructure, the Quang Ninh government is very supportive of investors, which are “plus points” that help attract foreign investment.
Mr. Pham Tan Cong – President of the Vietnam Chamber of Commerce and Industry also evaluated: “Quang Ninh is one of the most favorable investment and business environments in Vietnam. With the speed and growth potential of the Vietnamese economy in general and of Quang Ninh province in particular in the coming period, there will be many great opportunities and attractions for domestic and foreign investors to come to Quang Ninh province.”
Representative of Quang Ninh province commits to create favorable conditions for investors
Commitment to create favorable conditions for businesses
Speaking at the event, Mr. Cao Tuong Huy – Chairman of the People’s Committee of Quang Ninh province said: Quang Ninh is a locality with a strategic position in terms of politics and economics with unique potential, outstanding opportunities, and comparative advantages in attracting investment. In recent years, especially in recent years, the province’s economy has continuously grown rapidly and stably, maintaining a GDP growth rate of over two digits for 9 consecutive years (2015-2023).
In 2023, Quang Ninh’s GDP growth rate reached 11.03%, double the national average, ranking 3rd in Vietnam and 1st in the Red River Delta region. The scale of the economy is growing rapidly, estimated to reach over VND 315,800 billion in 2023, ranking 3rd in the Northern region (after Hanoi and Hai Phong cities), contributing 10.1 % to the total scale of the economy in the Red River Delta region. The per capita average GDP exceeds USD 9,500, the highest in the Northern region. It is one of 18 provinces and cities contributing to the national budget.
Quang Ninh is also the locality with the largest number and scale of industrial zones and economic zones in the country, including 2 coastal economic zones (230,436 ha), 3 border economic zones (144,735 ha), and 23 industrial zones (18,842.56 ha), distributed in 10 out of 13 localities with a total area of over 394,013 ha.
“The economic zones and industrial zones of Quang Ninh are connected to each other by a high-speed road system, facilitating trade, transport, and cargo distribution. The coastal economic zones and border economic zones of Quang Ninh are both allowed by the Government to enjoy the highest investment incentive policies,” Mr. Cao Tuong Huy affirmed and said that Quang Ninh promises a potential land for businesses.
According to statistics, currently, Quang Ninh province has 183 FDI projects from investors from 19 countries and territories around the world operating in production and business with a total registered investment capital of over USD 15 billion.
Foreign business community highly evaluates the investment environment in Quang Ninh
Mr. Nguyen Xuan Ky – Member of the Party Central Committee, Secretary of the Provincial Party Committee of Quang Ninh affirmed: Quang Ninh Province sincerely invites, ready to welcome and commit to accompany and create the most favorable conditions for investors to succeed and sustainably invest in the province, and leverage their strength, share to promote the development of the province’s business community.
“Create the best conditions for domestic and foreign investors to promote production and business and enhance competitive capacity in the value chain; Invest in industries, fields, and areas where the province has outstanding competitive advantages and different potentials, bringing trust, satisfaction, and success opportunities for investors, businesses of all economic sectors,” said Mr. Nguyen Xuan Ky, pledging.
