In the first 7 months of 2024, Quang Ninh "brought in" 1.56 billion USD in foreign direct investment (FDI), 2.2 times higher than the same period in 2023, ranking 2nd in the country after Bac Ninh province.
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| Modern production line at Solar Vietnam Industrial Company Limited (Song Khoai Industrial Park, Quang Yen Town, Quang Ninh). (Source: BQN) |
Previously, in 2023, Quang Ninh was also one of the top 3 localities in the country in attracting FDI. This is also an impressive figure, a new record for the province after more than 20 years since the first FDI project invested in the province (2002).
Accurately identify opportunities from a distance and early on
Where does Quang Ninh's success in attracting FDI come from?
In 2023, taking advantage of being the first locality to have the Provincial Planning for the 2021-2030 period approved by the Prime Minister; holding the top position in the Provincial Competitiveness Index (PCI) for 6 consecutive years (2017-2022), Quang Ninh will focus on promoting economic restructuring, renewing the growth model, enhancing the position and prestige of the province with other localities in the country and in the international market.
At the same time, the province will carry out investment promotion tasks in combination with propaganda, advertising, and introducing the image and business investment environment; well prepare necessary conditions, especially premises, infrastructure, and human resources to attract multinational corporations and large enterprises with modern technology to invest in the province...
In addition to diversifying partners and investment forms, the province has accurately identified opportunities from afar and early on, proactively planned and had a methodical strategy in innovating mechanisms and policies to attract investment and preparing synchronous infrastructure for a new breakthrough in attracting investment.
Back in 2012, Quang Ninh proactively organized the first Investment Promotion Conference in the province with the participation of about 300 domestic and international investors. A lot of information about competitive advantages, development space, and innovation policies were communicated with the orientation of calling for investment attraction, creating momentum for economic growth.
One year later (2013), the province announced 7 strategic plans. This is considered an important basis and guideline for the province to identify values, opportunities, and challenges, and to build a roadmap, progress, and resources to realize development ideas in a long-term vision.
Along with prioritizing and improving the quality of government administration, administrative reform, digital transformation, and accompanying businesses, the province and strategic investors have spent tens of billions of USD on investing in synchronous infrastructure development, especially transport infrastructure to connect and interconnect, both within the province and between regions.
The development orientation is closely following the space of "One center, two routes, multi-dimensional, two breakthroughs, three dynamic regions", thereby promptly creating traffic corridors associated with economic corridors, urban corridors, territorial division and cooperation, ensuring that the potentials, strengths, comparative advantages, and competitive advantages of each locality of the province are promoted.
Receptive and timely solutions have created trust among investors, welcomed new waves and new opportunities, and set a record for attracting new-generation FDI capital with huge amounts of capital.
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| Dong Mai Industrial Park (Quang Ninh). (Source: BQN) |
Choose quality, not quantity
Continuing the success, from the beginning of 2024, Quang Ninh province has directed and assigned departments, branches, sectors and localities of the province to focus on improving and enhancing the quality of the investment and business environment, removing difficulties, accompanying and supporting businesses.
The province also issued resolutions and plans on orientations for perfecting institutions and policies, improving the quality and effectiveness of foreign investment cooperation until 2030, which set out targets and solutions to attract FDI in the short, medium and long term.
In addition, Quang Ninh maintains the viewpoint of attracting FDI "not chasing quantity, but choosing quality". The province continues to implement traditional investment promotion methods, but to increase efficiency, it must raise the scale of events and demonstrate the province's respect. Instead of waiting for investors to come to it, Quang Ninh is always proactive, positive, and focuses on approaching organizations and individuals with influence and a decisive role.
Thanks to that, Quang Ninh's FDI attraction situation in 2024 has many positive signs.
Most recently, in early July 2024, Foxconn Group - Apple's main manufacturing partner was granted an investment registration certificate for two major projects in Quang Ninh with a total registered capital of nearly 551 million USD.
These are the smart entertainment product manufacturing project, invested in Song Khoai Industrial Park (Amata) with an area of 21.5 hectares, investment capital of 263.7 million USD with a designed capacity of 4.18 million products/year and the smart system equipment manufacturing project in Bac Tien Phong Industrial Park (Deep C) with an area of 12.4 hectares, capital scale of 287.2 million USD, designed capacity of 8.78 million products/year.
Up to now (August 20), industrial parks in Quang Ninh province have attracted 23 new projects, most of which are new generation FDI investment projects in the processing and manufacturing industry using clean, modern technology, less resource-consuming, less impact on the ecological environment and creating great value for the province's economy.
These 23 projects are all in line with the local investment attraction goals and orientations. For example: The Gokin Solar Hai Ha Vietnam photovoltaic monocrystalline silicon panel and monocrystalline silicon bar project in the Texhong Hai Ha Industrial Park (IP), Hai Ha district, invested by Gokin Solar Company (Hong Kong - China), with a total investment of 274.8 million USD.
Or the Project of manufacturing bearings and linear motion equipment at Song Khoai Industrial Park (Amata), Quang Yen town, invested by IKO Thompson Vietnam Co., Ltd. The project has a designed capacity of 930 tons of products/year; total investment of 57 million USD...
Source: https://baoquocte.vn/quang-ninh-mo-cua-don-song-fdi-ky-i-thanh-tuu-den-tu-no-luc-nang-chat-283256.html
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