Quang Ninh attracts the 3rd-Highest FDI nationwide

In the first nine months of 2024, Quang Ninh's GRDP growth reached 8.02%, with total state budget revenue at VND 40,479 billion, equivalent to 73% of the estimate, and FDI attraction hitting $ 1,817 million, placing it third nationwide.

According to Cao Tuong Huy, Chairman of Quang Ninh Provincial People’s Committee, the province has clearly recognized the importance of FDI capital. Over many years, Quang Ninh has actively worked to improve its investment and business environment, pushing forward substantial administrative reforms to facilitate investors and enterprises, especially FDI enterprises, with the enduring spirit that "the development of investors and enterprises is also the development of Quang Ninh Province."

From the beginning of 2024, the province has taken decisive actions, instructing relevant departments, agencies, and localities to review challenges in attracting FDI; adequately prepare necessary conditions, particularly land, infrastructure, and human resources, to create the most favorable conditions for large investors and enterprises to invest in the province.

In particular, Quang Ninh continues to vigorously implement Resolution No. 01-NQ/TU dated November 16, 2020, of the Provincial Party Executive Committee on the rapid, sustainable development of the processing and manufacturing industry for the period 2020–2025, with a vision toward 2030, emphasizing the attraction of FDI capital and investors into this sector, identified as the new growth driver of the economy.

With flexible, creative, and innovative solutions over the past three years, the processing and manufacturing sector has attracted 42 new projects with a total investment of nearly $ 5.5 billion (accounting for over 71.4% of total FDI capital), quadrupling compared to the 2016–2020 period. All investment projects are new-generation, high-tech, environmentally friendly FDI projects.

Chairman Cao Tuong Huy emphasized that the province will continue to push the transition from a "brown" to a "green" growth model, restructuring the economy to prioritize green economy development, clean and modern technology.

"In 2024, Quang Ninh aims to attract over $ 3 billion in FDI, with a focus on the processing and manufacturing sector using modern technology. With an investment environment that is constantly improving, fully developed infrastructure—especially in industrial parks, economic zones, and transportation—Quang Ninh is becoming increasingly attractive to investors, especially FDI investors", Huy shared.