A corner of the northern province of Quang Ninh (Photo: VNA)
Quang Ninh (VNA) – The northern province of Quang Ninh attracted over 3.1 billion USD to its industrial parks and economic zones in the first 10 months of this year, surpassing the FDI attraction target assigned by the provincial People's Committee by 158.57%.
According to Hoang Trung Kien, head of the Quang Ninh Economic Zone Authority, in the reviewed period, the province licenced 24 new projects in total.
In October alone, Quang Ninh granted an investment licence to Jinko Solar PV Vietnam photovoltaic cell technology project with total registered capital of over 34.65 trillion VND (1.5 billion USD), helping the province to surpass the 3 billion USD mark in FDI attraction, and outpace other localities like Hanoi, Hai Phong and Ho Chi Minh City.
Once operational, the project will generate revenue of over 100 million USD per year whilst simultaneously creating jobs for about 4,500 labourers with a monthly average salary of about 13 million VND per person.
The northern province of Quang Ninh attracted over 3.1 billion USD to its industrial parks and economic zones in the first 10 months of this year. (Photo: VNA)
Quang Ninh has drastically reformed administrative procedures in investment, land, construction, taxes, and customs, thus removing difficulties facing investors.
The locality has also quickly completed construction and land use plans, and urged investors to upgrade technical infrastructure at industrial and economic zones in order to lure quality FDI projects.
So far this year, the local authorities have welcomed over 100 delegations of foreign investors who came to explore investment opportunities, and seek to expand their investment in the locality, including big firms such as BP of the UK, JTA (Qatar), Jinko Solar and TCL of Hong Kong (China), Lite-On Technology, Tera and Neotek of Taiwan (China), and Mitsubishi, Yaskawa Electric of Japan.
Investment promotion programmes were held by the provincial Investment Promotion and Support Board in late August at Samsung Electronics Vietnam (the Republic of Korea), VSIP (Singapore), Unilever Vietnam (the UK); and GreatStar Industrial Vietnam Co., Ltd, and Deli Vietnam Co., Ltd of China.
The province has given priority to attracting projects using new and advanced technologies with modern management practices and high-added value, and those with ripple effects that connect to global production and supply chains.
Under the planning project approved by the Prime Minister for the 2021-2030 period, the province has 23 industrial parks (IP), the largest number among localities across the country. This is favourable conditions for the province to form a modern and specialised IP system.
Among the 23 planned IPs, seven have been built and hosted investment projects, namely Cai Lan, Viet Hung, Hai Yen, Dong Mai, Hai Ha Seaport IP, Song Khoai, Dam Nha Mac service IP. The remaining IPs are in the process of planning, approval, and selecting investors.
Quang Ninh aims to develop each IP according to different product chains and industries, gathering interconnected, supportive and dependent industries to create complete industrial products, especially a network of support industries with domestic enterprises participating in global production networks and value chains./.
