Quang Ninh attracts over 30 trillion VND in investment so far

Quang Ninh (VNA) – The northern province of Quang Ninh has attracted more than 30 trillion VND in investment so far this year, a rise of 30.4 percent year on year.

The amount included 17.8 trillion VND from domestic investors and 567.3 million USD in foreign direct investment (FDI) from more than 20 countries and territories.

The province is hosting 117 valid FDI projects worth a total 5.5 billion USD.

This is the result of the locality’s efforts in applying strategic measures to promote investment, including the improvement of transport system as well as local competitiveness and investment environment.

Provincial authorities have held quarterly, monthly and weekly meetings with the local business community to hear and timely address arising problems, while all provincial agencies have cut down 30 percent of their meetings to give more time for businesses.

Businesses can also give their ideas on regulations and policies in attracting investment and socio-economic development plans.

In addition, Quang Ninh has offered legal support and other assistance in terms of capital, land and trade promotion for enterprises, with special attention paid to small- and medium-sized enterprises which account for 98 percent of all the firms in the province.

At the same time, the province has also made efforts to speed up administrative reform through the building of a public administrative centre, helping reduce 40 percent of businesses’ time for administrative procedures.

Along with the support, the locality has renewed investment promotion work towards professionalisation, practicality and efficiency.

Thanks to the endeavours, Quang Ninh has won trust of investors with many big projects, including Texhong Hai Yen fibre factory in Mong Cai and Vinpearl Ha Long Bay Resort in Ha Long City.

Investment promotion activities abroad as well as cooperation with international organisations have been strengthened to introduce the locality’s potential and policies.

Quang Ninh has sent working groups to many foreign markets, including Malaysia, Singapore and Taiwan to organise investment promotion activities and establish ties with potential partners and investors.-VNA