Business

Quang Ninh heats up with investment flows

The northern province of Quang Ninh has proved its attractiveness to both domestic and foreign investors, which can be seen in the flow of investment in recent years.
Quang Ninh heats up with investment flows ảnh 1Vincom Ha Long shopping centre (Photo: vingroup.net)

Quang Ninh (VNA) – The northern province ofQuang Ninh has proved its attractiveness to both domestic and foreigninvestors, which can be seen in the flow of investment in recent years.

During the past two years, Vingroup, a big domestic realestate  firm, has launched two massiveprojects in Quang Ninh, including the Vincom Ha Long shopping centre, worth 1.1trillion VND (48.4 million USD) and the Vinpearl Ha Long Bay Resorts on ReuIsland valued at 1.2 trillion VND (52.8 million USD). 

The group also planned to build a complex of shopping centre,service and apartment on an area of 4,000 ha in Quang Yen.

Meanwhile, it has plans to pour over 2 billion USD in developingthe project Ha Long Marina in Ha Long, which has been carried out for the pastthree years and will continue in upcoming years.

As of beginning of this year, FLC Group set its hallmark inQuang Ninh with the project FLC Ha Long with a total investment of 3.4 trillionVND (149.8 million USD). Covering an area of 224 ha, the project includes a 18-holegolf course, a 1,500-seat international convention centre, a five-star hoteland luxury resort villas.

The locality also attracts foreign big names such as ISCCorp, Wyndham and Starwood from the US, Amata of Thailand and NakheelProperties of the UAE.

The provincial Department of Planning and Investmentreported that there were 111 valid foreign direct investment (FDI) projectswith a total registered capital of 5.1 billion USD in Quang Ninh as of the beginningof this year.

The locality’s provincial competitiveness index (PCI) hasjumped to the third place from the 20th among 63 provinces in the past threeyears, according to Vietnam Chamber of Commerce and Industry (VCCI). Quang Ninh’sPCI is now the top of the northern region.

Dau Anh Tuan, Head of VCCI’s Legal Department and Directorof the national PCI programme, said the indices on leaders’ dynamism andbusiness support service of Quang Ninh are better than those of other provinces.

He also noted that theprovincial administrative centre model has been effective and offered favourableconditions to investors.-VNA

VNA
#investment flows #Quang Ninh #Vingroup #FLC Group #PCI #jumped #FDI Quang Ninh
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