Innovation, improving the effectiveness of investment promotion, support and attraction

In 2024, in the context of many unprecedented difficulties and challenges, especially the historic storm Yagi which caused severe damage to Quang Ninh province. Domestically, competition to attract investment among localities across the country is also taking place strongly. However, Quang Ninh province is still proactive in seizing opportunities, welcoming the wave of shifting investment capital sources in the world to accelerate and make a breakthrough. For the whole year, foreign direct investment (FDI) attraction in the area reached over 2.8 billion USD, among the leading localities in the country.

Quang Ninh Provincial People's Committee had a working session with the Japan National Economic Recovery and Development Association (TNG) to discuss investment opportunities in Quang Ninh province.

To achieve this, the province has implemented many effective solutions in promoting, supporting and attracting investment. Since the beginning of the year, the Provincial People's Committee has issued the Investment Promotion Program for 2024, accordingly, orienting key investment projects and assigning specific tasks to relevant agencies for implementation.

The Investment Promotion and Support Board has advised the Provincial People's Committee to receive and work with 40 delegations of domestic and foreign enterprises and investors who came to explore investment opportunities in the province. Specifically: Dubai Chambers Vietnam Trade Promotion Office explored opportunities for cooperation in processing and exporting agricultural, forestry and fishery products; seaports, logistics... in the province; Chongqing investors (China) explored investment in an aluminum production and recycling project (10 hectares in scale, capacity of 400,000 tons of aluminum/year); UnASDG intergovernmental organization in Vietnam, Alpstein Ventures AG Investment Fund (Switzerland) and Thai An Holdings Investment Joint Stock Company explored investment in high-tech industrial, energy and environmental projects; The Korea Association for Reuse of Construction and Industrial Machinery (Korean Ministry of Industry) - KRACIM is exploring investment opportunities for the project of remanufacturing industrial machinery at the Industrial Park in the East of Dam Ha B... Notably, the Jiangxi Chamber of Commerce of Guangdong Province (China) and 6 large companies of Guangdong Province (China) came to explore investment in the project of producing electric vehicles, construction materials and interiors in Mong Cai and Hai Ha. B.Grimm Power Company (Thailand) is researching and investing in wind power projects in Dong Trieu and Uong Bi cities, providing clean electricity for the Amata Industrial Park in Quang Yen with a capacity of 100MW, with a total investment of about 160 million USD.

In addition, Shinec Joint Stock Company has proposed the Net Zero Eco-Industrial Park investment project in Uong Bi city with an expected investment of about 280 hectares in phase 1 and a total capital of about 4,000 billion VND... Greenlink Da Nang Joint Venture and YNC Company (Korea) implemented the project of Forest Reconstruction, Bamboo Forestry Development and Carbon Credit after Typhoon Yagi in Ba Che district and the grid-connected biomass power project using biochemical technology (capacity of 40 MW, total investment of 65 million USD);

During the meeting and working process, the provincial departments, branches and units focused on introducing investment opportunities in processing and manufacturing industry projects; seaport infrastructure projects and logistics services, energy projects (supporting CNCBCT)...; proactively and actively guided investors to survey the project investment location on site.

The province also actively supports small and medium enterprises, supports innovative startups, and digital enterprises. Policy mechanisms to encourage investment in developing the processing and manufacturing industry in the fields of agriculture, forestry, and fisheries: The Provincial People's Committee has issued Decision No. 1919/QD-UBND approving the project on developing enterprises, innovative startups, and developing key products, building brands of Quang Ninh province until 2025, with a vision to 2030.

In addition, Quang Ninh also supports businesses to make the most of the signed Free Trade Agreements. Typically, the Department of Industry and Trade has provided information and introduced a handbook on exporting aquatic products to the EU market to departments, branches, sectors, local People's Committees, production, business, and import-export enterprises in the province. At the same time, it has conducted a survey on training needs to build resources to implement and utilize Free Trade Agreements (FTAs); invited to participate in the "Vietnam Textile and Garment Industry Exhibition 2024" organized by the Trade Promotion Agency and Messe Frankfurt Group (Germany). The Department also provided information on the cooperation situation with the Netherlands, Indonesia, Slovakia, Croatia, Estonia, Latvia, Romania, Brazil, etc.

In the coming time, Quang Ninh will study and evaluate the efficiency and quality of FDI capital flows into the province's processing and manufacturing industry (focusing on evaluating the effectiveness of budget contributions, economic growth, job creation, etc.); at the same time, orienting priority areas to attract in the coming period with the goal of striving to attract only projects that create momentum for the province's socio-economic development, high-tech, clean projects, less intensive in raw materials, fuels, materials, etc.

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