Quang Ninh shows strong investment growth this year
The northern province of Quang Ninh in 2017 saw a year-on-year increase of 10.1 percent in total investment to 60.6 trillion VND.
View of Bai Tu Long Bay in Quang Ninh Province. (Photo dulichhalong.net)Quang Ninh (VNA) - The northern province of Quang Ninh in 2017 saw a year-on-year increase of 10.1 percent in total investment to 60.6 trillion VND, according to the Quảng Ninh provincial Department of Planning and Investment.
This was the result of improving investment and business environment, bringing confidence to enterprises and investors.
According to the department’s report, the total investment of 60.6 trillion VND in 2017 included 22.9 trillion VND from the State, accounting for 37.8 percent; 25.7 trillion VND from the private sector, accounting for 42.3 percent; and 12 trillion VND from foreign direct investment, accounting for 19.9 percent.
Hoang Trung Kien, Deputy Director of the Quang Ninh Economic Zone, said investors were expected to start the development of tourism and service complexes with a total investment of 61 trillion VND in Van Don Island in 2018, contributing to the establishment of one of the first three special economic and administrative regions in Vietnam.
Quang Ninh has plans to complete a highway connecting Ha Long City with the Hai Phong–Hanoi Highway, the Ha Long–Van Don Highway, Cam Hai –Van Don Highway, FLC Group’s golf and resort complex, and infrastructure in Texhong Hai Ha Industrial Zone in the second quarter of 2018.
Meanwhile, Cat Van Hai Joint Stock Company has scheduled to start the construction of its five-star Furama Ha Long Vietnam Resort and Villas on the Quan Lan Island in the beginning of 2018, with a total investment of 1.2 trillion VND, Hoang Duc Hung, General Director of Cat Van Hai Joint Stock Company, said.
Next year, some other projects will also begin constructions, including the 90-km Van Don–Mong Cai Highway, with an investment capital of about 16 trillion VND.
Vu Van Dien, Vice Chairman of the Quang Ninh People’s Committee, said Quang Ninh province focused on developing strategic plans in three key fields of infrastructure, technology and human resources in 2017, especially transport infrastructure projects, to attract many domestic and foreign companies developing big projects, such as Vingroup, Sungroup and FLC Group.
The investors have put in a large investment amount to upgrade the transport system, promoting the development of Quang Ninh. These include the Quang Ninh airport project, with a total investment capital of nearly 7.5 trillion VND, which will support the development of the Van Don special administrative and economic zone. The Quang Ninh airport has been invested by Sungroup, a strategic investor in the province.
Other projects are Ha Long–Hai Phong Highway and Ha Long–Van Don Highway. Those highways will create traffic links in the economic triangle of Hanoi–Hai Phong–Quang Ninh and the Hanoi–Hai Phong–Ha Long–Van Don Highway to attract more investment and contribute to the socio-economic development of Quang Ninh province and the northern key economic region.
In 2017, Quang Ninh also approved investment in a series of projects to build large and luxury resort and entertainment complexes with local large investors, such as CEO Group, FLC Group, Mbland Corporation and Viglacera Corporation.-VNA
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