Quang Ninh calls for Singaporean investment

Delegates at the event (Photo: baoquangninh.com.vn) 

Singapore (VNA) – A seminar promoting investment in the northern province of Quang Ninh held in Singapore on September 13 is expected to open more cooperation opportunities between the two sides in the time ahead.

At the event, Quang Ninh representatives introduced the province’s potential and policies to attract foreign investors, especially those from Singapore.

Deputy Head of the Standing Committee of Quang Ninh’s Investment Promotion Agency (IPA) Tran Nhu Long hoped Singaporean investors will invest in areas that Singapore has strength such as support and hi-tech industries, health, education, services and tourism.

He said the province has developed and completed a synchronous planning system, which is appreciated by the world’s leading investors and foreign specialists. It has created the best possible conditions for investors with procedures being streamlined and handled in an open, transparent and rapid manner..

Quang Ninh is completing final steps for the establishment of the Van Don Economic Special Zone, the first of its kind in Vietnam, which will apply special preferential mechanisms.

Singaporean investors expressed their interest in the great potential of Quang Ninh, especially in tourism. They also spoke highly of the province’s investment attraction policies and administrative procedure reforms.

Chairman of KinderWorld Ricky Tan said his group invested in Quang Ninh in 2014, with procedures completed within seven months. With the support of the local authorities, the company wishes to invest more in the province, he added.

Quang Ninh is now home to 114 foreign direct investment projects with a total investment capital of 5.5 billion USD.

As of March 2016, Singapore ranked third among 18 countries and territories investing in the province, with seven projects worth 800 million USD.-VNA