Business

Quang Ninh attracts quality foreign investment flows

Foreign investment attracted by the northern province of Quang Ninh in the first half of 2023 is nearly equivalent to its target set for the whole year.
Quang Ninh attracts quality foreign investment flows ảnh 1A corner of Quang Ninh (Photo: baodautu.vn)
Quang Ninh (VNA) – Foreign investment attracted by the northern province ofQuang Ninh in the first half of 2023 is nearly equivalent to its target set forthe whole year.

In the period, the locality drew over 832 million USD inforeign direct investment (FDI), equal to 83% of that set in the provincialParty Committee’s Resolution and 69.3% in the provincial People’s Committeeplan.

This result was partly contributed by two Foxconn projectstotalling 246 million USD approved by the province on the last day of June.

Together with four other FDI projects, they brought thetotal foreign capital Quang Ninh attracted to the period in the automobilesupporting industry to 585 million USD, or 70.3%.

It can be said that FDI in Quang Ninh in the first sixmonths was mainly poured into the processing and manufacturing industry, whichis in line with the orientation set out in a resolution on rapid andsustainable development of the processing and manufacturing industry in the 2020-2025period.

To further develop the processing and manufacturing industryin the direction of increasing its contribution to the local economic growth,Quang Ninh is focusing on attracting domestic and foreign investors that applymodern and clean technology, and create products with high added value.

Over the past 2.5 years since the resolution was promulgated, the totalinvestment capital in the province’s processing and manufacturing industry hasreached over 41.3 trillion VND (1.74 billion USD), of which foreign investmentis over 1.3 billion USD. The average growth rate of this sector is 23.6% per year,contributing over 10% in the province's GRDP./.
VNA
#Foreign investment #Quang Ninh #FDI #Vietnam #Vietnamplus #Vietnam News Agency Quang Ninh
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