Business

Quang Ninh pushes joint ventures

The northern coastal province of Quang Ninh has been promoting the public-private partnership (PPP) investment and management model aiming to become a service-industry oriented locality by 2020.
Quang Ninh pushes joint ventures ảnh 1A petroleum port owned by Petrolimex Quang Ninh Company. (Source: VNA)

Quang Ninh (VNA) - The northern coastal province of Quang Ninh has been promoting the public-private partnership (PPP) investment and management model aiming to become a service-industry oriented locality by 2020.

Chairman of the provincial People's Committee Nguyen Duc Long said 2015 was a successful year for the PPP model, especially in infrastructure development, transport and tourism projects.

Local authorities have granted an investment license to the joint venture between Cong Thanh Investment and Construction JSC and Phuong Thanh Investment and Construction JSC to build the Ha Long- Van Don expressway and upgrade the Ha Long – Mong Duong section of National Highway 18 under the build-operate-transfer (BOT) model with a total investment of nearly 14 trillion VND (616 million USD).

Once completed by the end of 2017, the project will help reduce traffic on National Highway 18 and shorten the distance from Hanoi to Ha Long City and the Van Don Special Economic Zone, and from Ha Long to the Mong Cai Border Economic Zone.

The chairman said the projects will help complete the infrastructure network in the province and attract more investment, promoting socio-economic development in Quang Ninh and the key northern economic region.

A series of projects have been implemented under the PPP model since late 2014.

The provincial People's Committee said that 25 PPP projects have been conducted on schedule so far.

Vu Van Khanh, Director of the provincial Department of Transport said the transport sector will co-ordinate with relevant sectors to complete the Ha Long-Hai Phong by late 2016.

Quang Ninh has also applied the PPP model to social and working infrastructure, medical and educational establishments and information technology. Local authorities have also asked for approval from the Government to build the Quang Ninh Airport and Van Don-Tien Yen-Mong Cai expressway under the model.

In 2015, the province attracted a total investment of 51 trillion VND (2.24 billion USD), a year-on-year increase of 12.5 percent.

During the year, it welcomed a number of major projects worth trillions of dong from both domestic and foreign businesses such as the Vincom Centre Ha Long and Vinpearl Ha Long invested by Vingroup, Ha Long Ocean Park invested by Sun Group, and Ha Long Star Tourism Urban and Entertainment Complex Casino invested by real estate developer Nakheel from the United Arab Emirates.-VNA

VNA
# Quang Ninh #service-industry #PPP #joint venture #Mong Cai Border Economic Zone Quang Ninh
Follow VietnamPlus

Related News

See more

ASEAN, China promote cross-border payments

ASEAN, China promote cross-border payments

In the first quarter of 2025, the value of RMB transactions between China and Malaysia reached 102 billion RMB (4 billion USD), up 27% year-on-year, while transactions with Cambodia reached 5 billion RMB (686 million USD), an increase of 45% compared to the same period in 2024.

Vietnamese Ambassador to China Pham Thanh Binh (left) and Chairman of the China Council for the Promotion of International Trade Ren Hongbin. (Photo: VNA)

Vietnam, China eye deepening trade promotion cooperation

The Vietnamese Embassy is ready to act as a bridge in facilitating cooperation between the China Council for the Promotion of International Trade (CCPIT) and Vietnamese partners, as well as in connecting enterprises from both countries, said Ambassador Pham Thanh Binh.

PM Pham Minh Chinh speaks at the meeting. (Photo: VNA)

PM calls for bold, accelerated action in railway development

Prime Minister Pham Minh Chinh has urged ministries, agencies, and localities to act with “greater speed and boldness” to carry out Vietnam’s railway projects at the second meeting of the Steering Committee for key national railway projects in Hanoi on April 26.

Vietnamese Ambassador to Cambodia Nguyen Minh Vu meets with leaders and staff of three rubber companies in Kampong Thom province, Cambodia. (Photo: VNA)

Vietnam, Cambodia deepen investment links in Kampong Thom

Vietnamese Ambassador to Cambodia Nguyen Minh Vu on April 25 paid a working visit to several subsidiaries of the Vietnam Rubber Group (VRG) in Kampong Thom province, and held discussions with provincial leaders to enhance coordination and create more favourable conditions for Vietnamese firms, thereby promoting stronger bilateral investment ties.

Can Tho leaders and Bestway Group executives perform the symbolic launch ceremony for the new project. (Photo: VNA)

Bestway International launches 300 million USD plant in Can Tho city

Once operational, the plant is projected to create over 5,000 direct jobs and generate approximately 500 million USD in annual revenue, primarily through exports. The project is expected to significantly enhance regional employment and economic growth, contributing to Can Tho’s development and the broader Mekong Delta region.

Tra fish processed for export in Dong Thap province (Photo: VNA)

World Bank forecasts Vietnam's GDP growth at 5.8% in 2025

As a trade-oriented economy, with imports and exports representing almost 170% of the GDP, Vietnam is particularly exposed to ongoing shifts in global trade policies. The US remains the largest export destination of Vietnam, accounting for 30% of its total exports, while China makes up 38% of its imports.

Vietnamese Minister of Industry and Trade (MOIT) Nguyen Hong Dien (Photo: VNA)

US calls tariff talks with Vietnam productive

US Trade Representative Jamieson L. Greer and Vietnamese Minister of Industry and Trade (MOIT) Nguyen Hong Dien agreed on the importance of making swift progress towards reciprocal and balanced trade between the US and Vietnam.

The working delegation from the Party Central Committee's Commission for Information, Education and Mass Mobilisation inspects the resettlement area for residents affected by the Ninh Thuan 1 Nuclear Power Plant project. (Photo: VNA)

Ninh Thuan asked to gain public support for nuclear power plant project

Pham Van Hau, Permanent Deputy Secretary of the provincial Party Committee and Chairman of the provincial People’s Council, stated that recognising the importance of the project, the province has developed specific plans and a roadmap for its implementation. This includes focusing on effective communication efforts to gain high consensus among officials, Party members, and people.