A view of Quang Ninh province. (Photo: VNA)
Quang Ninh (VNA) – Thenorthern coastal province ofQuang Ninh has welcomed a number of major investors, both domestic and overseas, who came to explore investment and partnershipopportunities since the beginning of this year.
The success in catching the investors’ intention isgreatly attributable to efforts bythe local Investment Promotion Agency (IPA).
To lure morelarge investors to Quang Ninh, the IPA has accelerated investment promotionprogrammes on an annual basis. Since the beginning of the year, the agency hasreceived 24 delegations of investors to the province, an increase of nearly 37percent from the same period last year. Most investors wanted to seekinvestment opportunities in tourism and services (33 percent), manufacturingand processing (12.5 percent), real estate (11 percent), and industry (7.8percent).
In the firsteight months of 2019, as many as 20 projects have got the province’s approvalfor their chosen sites to develop1/500-scaled detailed construction planning.
The agency hastaken various measures to step up investment promotion, particularly developinginvestment database and issuing investment promotion documents and publications,said head of IPA Nguyen Doan Dinh Cuong. It also plans to update and amenddocuments and publications for promoting investment at key economic zones andbuild promotion documents for different industries, for example, tourism,resort property and logistics, he said.
Additionally,the province has promptly learned about recommendations and handled inquiriesfrom businesses and investors to improve their satisfaction with localservices. For instance, the IPA inAugust received an inquiry fromFuture Investment Medical JSC from the Czech Republic which hoped to construct a high-quality beer production facility in the province.
Shortly after receiving the proposal, the agency hasactively worked with local authorities to provide the company with updatedinformation on potential locations for the facility and supported it inconducting field surveys at seven locations in Dong Trieu town, Uong Bi cityand Hoanh Bo district. After the field surveys, the foreign firm has showninterest in a site in Zone 1, Bac Son ward, Uong Bi city.
To help theCzech company soon start the project, the agency has cooperated with localdepartments and authorities to guide it in investment procedures. Notably, based on specific inquiries from thefirm, the agency has informed relevant departments to together support it incompleting the procedures.
Besides assisting investors in the province, the IPA has focused on acceleratinginvestment promotion in other provinces and cities as well as overseas. The agency has not onlyintroduced about local business climate, investment policies and opportunitiesbut also established and maintained relationship with organisations andassociations which can play a role in promoting domestic investment, as well as with local and international banks, intermediaryfinancial institutions, and investment consulting companies.
Most recently,Quang Ninh attended a trade and investment promotion event in Japan held by theMinistry of Industry and Trade’s Vietnam Trade Promotion Agency (Vietrade) onAugust 26 – 30. On the sidelines of the event, the province hosted a separateinvestment promotion programme targeting Japanese investors who showed interest in doing business in the province.
Vu Thi KimChi, IPA deputy head, said in the coming time, the agency will continueadopting innovative solutions in investment promotion. It also plans to givebetter on-the-spot support tomajor investors that are looking for investment opportunities in QuangNinh.
She said the agency will focus attention on attract projects in tourism and servicesto increase the sector’s proportion in the provincial economy. In addition, it will actively coordinate withorganisations and cities and provinces both at home and overseas to implementregional investment promotion activities, creating greater communication effectfor the province’s investment potentials.
Quang Ninh isfast becoming an attractive destination for both tourists and investors, accordingto the Vietnam Association of Realtors.
The province has topped Vietnam’sProvincial Competitiveness Index (PCI) out of 63 cities and provinces nationwide for two consecutive years in 2017and 2018./.
