Quảng Ninh boasts advantages for foreign investment attraction

Quảng Ninh boasts advantages for foreign investment attraction

HÀ NỘI — The northern province of Quảng Ninh has been attracting significant foreign direct investment (FDI) thanks to effective solutions in removing difficulties for businesses and investors. 

Endless efforts to improve the investment climate has led to the region becoming an attractive destination for many foreign investors. 

Competitive advantages

Quảng Ninh has a politically and economically strategic position with unique potential and competitive advantages when it comes to attracting foreign direct investment, being the only municipality of Việt Nam with both a land and maritime border with China, including three border gates.

In recent years, Quảng Ninh has focused on developing its transport infrastructure, particularly its transport connections to highways, airports, and sea ports. To date, the province has  一 七 六km of highways, accounting for  一 六. 八 per cent of the country’s total. 

The province has coordinated with its neighbouring localities like Hải Phòng, Hải Dương, Bắc Giang and Lạng Sơn in resources and transport infrastructure development.

At the same time, the locality has been also keen on perfecting infrastructures of industrial zones (IZs) and economic zones (EZs) as it is home to the largest total area of ​​industrial and economic zones in the country with two Coastal EZs, three Border Gate EZs, and  一 六 IZs. 

Meanwhile, it has also focused on improving the quality of labour resources to better meet demand for skilled labourers of foreign investors. Currently, the rate of trained workers in the province reached  八 五 per cent, of which those with degrees and certificates reaching nearly  五0 per cent, among the leading groups in the country.

Abundant energy resources is also one of Quảng Ninh's advantages for investment attraction. It is now one of the country's largest power generation centres. Annually, the province produces about  三 九 billion kWh of electricity and contributes about  一 六 per cent of the total electricity output of the country.

The province has also been researching and investing in green energy sources such as LNG, wind power and biomass power.

Along with these advantages, Quảng Ninh has seen its administrative reform, business climate, and competitiveness continuously improve. Since  二0 一 三, the province has maintained nine consecutive years in the group of five provinces and cities with the best quality of economic management in the provincial competitiveness index (PCI) rankings. The province led the Red River Delta region in that period and the nation for five consecutive years from  二0 一 七 to  二0 二 一.

According to Nguyễn Văn Nhân, General Director of Amata City Halong JSC which is the investor of Sông Khoai IZ, Quảng Ninh's advantages and its business climate were key factors Jinko Solar Group continuously invested in the IZ. 

To date, Jinko Solar has pumped nearly US$ 九00 million into optical cell projects at Sông Khoai IZ. 

Bruno Jaspaert, CEO of DEEP C Industrial Zones told baoquangninh.com.vn that his firm was very careful when choosing an investment location and Quảng Ninh was a destination that had met all requirements of a foreign investor.

In Quảng Ninh, businesses could access high-quality, well-trained and experienced human resources. In addition, the province offered businesses an abundant land fund, many preferential policies while removing difficulties for businesses in a timely manner.

These were the province's strong points that made businesses ready to invest here in the near future, he told the online newspaper.