The Cai Lan industrial zone of Quang Ninh province (Photo: VNA)

Quang Ninh (VNA) – The northern province of Quang Ninh drew in more than 47 million USD in foreign direct investment (FDI) in the first six months of 2017.

The sum came from two new and six existing projects, raising the number of valid FDI projects in the province to 58, with a total registered capital worth over 2.3 billion USD.

Notably, Texhong Vietnam invested more than 20 million USD in supporting infrastructure and water supply for the Texhong Hai Ha industrial zone of the province.

In the coming time, Quang Ninh’s authorities will submit its investment policies for the prime minister’s approval.

Meanwhile, the province will provide support for foreign investors to complete investment procedures of major projects such as infrastructure development in Song Khoai industrial zone and Hon Giai ecological, resort tourism project in Van Don district.

Besides, the province has worked with Texhong Vietnam to devise a feasibility study of the Hai Ha thermal power plant at the Hai Ha industrial zone.

The plant with a capacity of 2,100 MW is expected to cost over 3 billion USD.

Investors, both foreign and domestic, have been flocking to the northeastern province of Quang Ninh as it is expected to be an international urban area by 2050.

The province is one of the most attractive destinations for real estate developers thanks to its great advantages for tourism development and local authorities’ desire to encourage investment in the service sector.

Quang Ninh became even more attractive recently when the provincial authorities announced a plan to build it into an international urban area by 2050.

The province has a special geopolitical and economical position with the world natural heritage site of Ha Long Bay as well as more than 600 natural landscapes and historical relic sites. 

In the process of development, Quang Ninh has to develop the mining industry and at the same time protect the environment, especially at the Ha Long Bay.

Local authorities have clearly defined challenges that need to address such as the high urbanisation rate and the sustainable development in the context of climate change and rising sea level.

To obtain sustainable development, Quang Ninh has implemented breakthrough strategies such infrastructure improvement, institutional reform, and human resources training in addition to changing growth models and restructuring the economy.-VNA