With more than 1.7 billion USD of FDI capital committed to invest in the province, investment attraction in Quang Ninh is currently being evaluated quite positively.
Quang Ninh expects large investment capital
Recently, at the Investment Promotion Conference of Quang Ninh province held on the afternoon of July 26, 2022, two large foreign investors signed a memorandum of understanding, committing to invest with a total capital of more than 1.7 billion USD into Quang Ninh, in which Stavian Quang Yen Petrochemical Joint Stock Company committed to invest in Bac Tien Phong Industrial Park (IZ) to implement a project of producing polypropylene (PP) beads with an investment of 1.5 billion USD.
Stavian Quang Yen Petrochemical Joint Stock Company committed to invest 1.5 billion USD in Bac Tien Phong Industrial Park of DEEP C to implement the project of producing Polypropylene (PP) beads.
Vietnam Investment Q Limited Company (a joint venture between Indochina Capital and Kajima Group, Japan) signed an agreement to keep 7.6 hectares of land in Bac Tien Phong Industrial Park to build a system of ready-built factories and warehouses, with estimated investment of 23.9 million USD.
Three other projects were also granted investment registration certificates at the Conference, with a total capital of more than 68.7 million USD, including BW Bac Tien Phong Industrial Development Project CN2.1C of BW Bac Tien Phong Industrial Development Co., Ltd. (20.5 million USD), Jinko Solar Vietnam Warehouse Project of Jinko Solar Industry Co., Ltd. (35.56 million USD), and Social Housing Investment Project of Jinko Solar Vietnam serving workers and employees of enterprises in Song Khoai Industrial Park (12.65 million USD).
Quang Ninh attracts FDI investors and factory construction projects
Favorable geographical location
The biggest advantage of Quang Ninh province is its geo-strategic location in terms of economy, politics, military and foreign affairs as it is the only province in the country that has both land and sea borders with China through three border gates. Quang Ninh is located in the economic cooperation zone of “Two Corridors, One Belt” between Vietnam and China; the expanded Gulf of Tonkin inter-regional cooperation area which connects ASEAN and China and belongs to the Nanning – Singapore economic corridor, and so on. This is the foundation for promoting the development of cross-border trade, exchange of goods and services.
Abundant natural resources
Quang Ninh fully converges natural conditions for economic, cultural and social development, including:
– Rich resources, namely coal resources, power industry, cement, building materials, etc.
– Rich natural ecosystem, diverse terrain with sea, forests and mountains.
– Outstanding potential in marine economic development and a long-stretched seaport system is gradually forming.
Quang Ninh is known as one of the leading provinces in terms of speed of development and completion of a synchronous and modern socio-economic infrastructure system with all types of traffic including road expressway, airway, waterway – international maritime. Another outstanding thing is that Quang Ninh has a highway of nearly 200 km long, helping to shorten the travel time from Hanoi to the province and to Mong Cai city (Quang Ninh’s international border gate).
Quang Ninh currently has two coastal economic zones, three border gate economic zones and sixteen industrial parks. Quang Ninh’s economic zones and industrial zones are connected to each other by a system of highways. Currently, there are 548.61 hectares of industrial land invested in infrastructure that can be ready for investors to rent. By 2025, there will be 3,658 hectares and by 2030 there will be 5,904 hectares of industrial land, along with many other advantages of labor resources, electricity and water infrastructure ready to welcome investors to build factories in Quang Ninh.
Open investment environment
The investment and business environment in Quang Ninh has led the country’s provincial competitiveness index (PCI) for five consecutive years. The province always strives to improve the investment environment, establishing a working group to support all investment, construction, production and business procedures during the investor’s project implementation here.
Quang Ninh possesses many potentials and strengths, always takes advantage of seizing opportunities to create an attractive investment environment to large FDI investors and many industrial projects. After Jinko Solar Group’s photovoltaic cell manufacturing project in 2021 with a total investment of approximately 500 million USD, up to now, the Jinko Solar Group continues to invest, which once again affirms that Quang Ninh is an attractive destination for large enterprises and corporations to invest and build factories.
With 15 years of operation in the field of industrial construction, DELCO has knowledge and practical experience in investment procedures, incentives as well as regulations of the Management Board of Industrial Parks, and is ready to consult and support investors right from the beginning of the factory construction investment project.
Information source: Investment Newspaper