Quang Ninh attracting foreign direct investment

According to the Foreign Investment Agency (Ministry of Planning and Investment), in the first 5 months of 2024, foreign investors invested in 17 out of the total 21 national economic sectors. In which, the processing and manufacturing industry led with a total investment capital of over $ 7.43 billion, accounting for 67.1% of the total registered investment capital, an increase of 11.9% compared to the same period.

The total newly registered, adjusted, and contributed capital to purchase shares by foreign investors reached over $ 11.07 billion, an increase of 2% compared to the same period in 2023. There were 1,227 new projects granted investment registration certificates (up 27.5% ​​compared to the same period), with a total registered capital of nearly $ 7.94 billion (up 50.8% compared to the same period).

As of May 20, the whole country has 40,285 valid projects with a total registered capital of $ 481.33 billion. The accumulated capital of foreign-invested projects is estimated to reach about $ 305.43 billion, equivalent to nearly 63.5% of the total registered investment capital still in effect.

Bac Ria - Vung Tau Province leads the country in attracting FDI with a total registered investment capital of over $ 1.52 billion, accounting for 13.8% of the total national investment capital, more than 12 times higher than the same period. The reason for the sharp increase in investment capital in this locality is due to a large project by the conglomerate Hyosung from South Korea with a total investment capital of $ 730 million.

In second place is Hanoi with nearly $ 1.14 billion, accounting for 10.3% of the total registered investment capital, a decrease of 39% compared to the same period in 2023. Bac Ninh ranks third with a total registered investment capital of over $ 1.06 billion, accounting for nearly 9.6% of the total national investment capital. Next are Ho Chi Minh City, Dong Nai, Quang Ninh,...

This year, Quang Ninh Province strives to attract a total FDI capital of over $ 3 billion. In 2023, Quang Ninh was one of the top three provinces leading the country in attracting FDI with over $ 3.1 billion. Currently, there are 10 projects proposed to be granted investment registration certificates by Quang Ninh with a total capital of over $ 520 million from investors from the United States, South Korea, China, and Taiwan. Relevant authorities are implementing legal procedures according to regulations, guiding investors to complete documents, and are expected to grant them in the second quarter of 2024. With the current progress, by the end of the second quarter, Quang Ninh is expected to attract nearly 30 projects with a total FDI capital investment of $ 1.4 billion, nearly equal to 50% of the annual plan.

The Standing Committee of the Quang Ninh Provincial Party Committee emphasizes principles and policies for attracting FDI investment to selectively attract investors, focusing on quality, efficiency, technology, and environmental protection as the primary evaluation criteria. 

According to some experts, the phase of increased investment will be boosted in the last months of the year. This is consistent with the rule of implementing infrastructure construction and manufacturing workshops at the beginning of the next year. Therefore, the goal of striving for a total FDI capital of over $ 3 billion for Quang Ninh in 2024 is very promising. 

Prioritize projects with advanced technology, new technology, high technology, clean technology, environmentally friendly, modern management, and high added value, making significant contributions to growth and the housing budget water.

Attracting FDI projects associated with the sustainable development of industrial parks and economic zones becomes a growth engine. Create a civilized and safe working and living environment, create jobs, and increase income for workers and labourers, which are associated with improving people's quality of life.

The overall goal of the FDI attraction strategy until 2030 is to build and develop Quang Ninh as a modern service and industrial province, become the national tourism engine and international tourism centre, marine economic centre, logistics centre, multimodal transport gateway connecting to China, Northeast Asia, and ASEAN; Northern fisheries centre, the national energy centre in Vietnam.