Determined to complete the goal of attracting FDI capital

In 2024, Quang Ninh aims to achieve a growth rate of gross regional domestic product (GRDP) of over 10%. Total state budget revenue in the area will reach VND55,600 billion, of which import-export revenue will reach over VND13,000 billion and domestic revenue will strive to achieve the highest revenue. In particular, Quang Ninh aims to attract foreign direct investment (FDI) of over 3 billion USD.

With a creative approach, daring to think, daring to do, daring to take responsibility, daring to innovate in direction and management, along with the viewpoint of constantly reforming administration, improving the investment and business environment, wholeheartedly serving people and businesses, over the past years, especially in the first 6 months of 2024, Quang Ninh has continued to reap achievements in socio-economic development, especially in attracting FDI capital.

Recently, Quang Ninh province organized the granting of investment registration certificates to Foxconn Group to implement 2 projects with a total capital of 551 million USD, bringing the total number of projects that this Group has invested in the province to 5 with a total capital of nearly 1 billion USD.

Foxconn is a leading corporation in the field of consumer electronics manufacturing, participating in 40% of the consumer electronics market share worldwide, ranked 20th in the Top 500 largest enterprises in the world according to the US Fortune Magazine.

Foxconn invested in Quang Ninh in 2019 with the S-Vietnam Project in Dong Mai Industrial Park, Quang Yen Town with an investment capital of 137 million USD. Up to now, the project has been put into stable production and business operations. In 2023, the Group will continue to invest in 2 more projects with a total investment capital of 246 million USD.

Song Khoai Industrial Park, Quang Yen Town. Photo: Yen Linh

The two new projects of Foxconn Group are the Smart Entertainment Product Project invested in Song Khoai Industrial Park (Amata), Quang Yen Town with an area of 21.5 hectares, total capital of 263.7 million USD, designed capacity of 4.18 million products/year and the Smart System Project in Bac Tien Phong Industrial Park (Deep C), Quang Yen Town invested in an area of 12.4 hectares, total capital of 287.2 million USD, designed capacity of 8.78 million products/year.

These are production projects in the field of processing and manufacturing industry, in line with the goals and orientations of attracting investment and development of Quang Ninh in the new period. They are environmentally friendly projects with high added value, economical and efficient use of land and resources, and contribute greatly to the growth of GRDP and budget revenue of the province.

Previously, Amata Ha Long Urban Joint Stock Company and Tenma Vietnam Co., Ltd. signed a contract to sublease the land use rights with an area of 8 hectares at Song Khoai Industrial Park, Quang Yen Town to implement a project to produce plastic molded components, assemble and mold. The total investment capital of the project is 56 million USD.

With many years of experience in business operations in Vietnam and a careful selection process, Tenma Group has decided to invest in Amata Ha Long, in Quang Ninh province, marking Tenma's first project in the province and the 4th project in Vietnam. It is expected that by the first quarter of 2025, the Tenma project in Quang Ninh will complete construction, installation of machinery, recruitment of personnel and trial operation.

It can be said that with a modern administration that wholeheartedly serves the people, businesses, and investors, a synchronous investment infrastructure, the country's leading competitiveness, and sustainable and effective administrative governance, Quang Ninh is one of the localities that attracts strategic investors, especially foreign investors with modern, environmentally friendly technology projects, meeting the green and clean growth criteria of Quang Ninh province.

In the first 6 months of 2024, FDI attraction in the province reached 1.55 billion USD, reaching approximately 52% of the annual plan, up 118% over the same period, ranking 3rd in the country (after Bac Ninh and Ba Ria - Vung Tau provinces), accounting for 10% of the total FDI attraction in the country of 15.2 billion USD. Of which, 22 projects were newly granted investment registration certificates, reaching over 1.3 billion USD and 16 projects adjusted to increase capital, reaching nearly 200 million USD.

The total number of licensed FDI projects in the province is currently 196 projects from 20 countries with a total registered capital of over 15.2 billion USD. Of which, Quang Yen town has 69 projects with a registered capital of over 5.4 billion USD; Cam Pha city has 8 projects with a registered capital of over 4.2 billion USD; Hai Ha district has 29 projects with a registered capital of over 3 billion USD; Ha Long city has 56 projects with a registered capital of over 1.8 billion USD.

Quang Ninh strives to attract at least 3 billion USD in FDI this year. This is a major task that requires the active and effective participation of relevant departments, branches, sectors and localities in implementing tasks, especially the tasks of administrative reform, improving the investment and business environment, and promoting the removal of difficulties and obstacles for businesses and investors.

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