Recently, Chinese FDI capital has continuously poured into Vietnam with many new investment projects, including Quang Ninh. To seize the opportunity and exploit this potential to the fullest, the province has created favorable conditions in terms of administrative procedures, land, site clearance, human resources, etc. to attract new projects from the billion-people Chinese market.
On the basis of the good friendship between Vietnam and China, the cooperation between localities of the two sides has developed in all fields, achieving many achievements. Quang Ninh is the only locality in Vietnam that has a land and sea border with China, with key land and sea border gates in trade and travel between the two countries. The Van Don - Mong Cai expressway has completed the Lao Cai - Hanoi - Hai Phong - Van Don - Mong Cai expressway chain, creating regional connectivity, connecting Lao Cai - Hanoi - Hai Phong - Quang Ninh with Guangxi and Yunnan (China), contributing to promoting trade and facilitating investment cooperation activities between Quang Ninh and China.
Sharing at the meeting and working session with Quang Ninh province in March 2024, Mr. Bang Cuong Chi, Chairman of An Tin Group, Guangzhou province, China, commented: Quang Ninh is one of the localities with fast development speed, synchronous traffic infrastructure, tourism infrastructure, attracting FDI... Many Chinese enterprises in the fields of finance, real estate, science and technology... are also looking forward to learning about investment opportunities in Quang Ninh. Hopefully, in the coming time, there will be more opportunities to learn and survey in Quang Ninh, thereby opening up opportunities for An Tin Group as well as other Chinese corporations and enterprises to learn about and strengthen investment cooperation in Quang Ninh.
With the view of effectively using non-budgetary capital for development, the province has proactively innovated in investment promotion through working directly with a number of large FDI investors, focusing on key markets, including large Chinese investors and enterprises... This is contributing to attracting the attention of many Chinese enterprises and investors interested in learning about investment in Quang Ninh.
In particular, to ensure the conditions for attracting and implementing investment projects, Quang Ninh proactively implements solutions to simplify administrative procedures; requires industrial park infrastructure investors to urgently invest in technical and social infrastructure construction according to the planning to meet the needs of secondary investors; reviews projects using appropriate land, avoiding excess, causing waste and waste; handles the recovery of slow-to-implement and ineffective projects; supplements clean land funds with potential to attract new investment projects; prepares infrastructure, human resources, energy; supports investment in a closed cycle from supporting the implementation of investment procedures to post-investment support... to prioritize investment attraction.
Currently, in Quang Ninh, China is leading among 20 countries and territories investing foreign direct investment (FDI) in the province, with 85/159 FDI projects, total registered capital reaching over 4.3 billion USD, accounting for 39.1% of the total FDI capital of the province. From 2023 to the end of the second quarter of 2024, in industrial parks and economic zones in the province, new Investment Registration Certificates have been issued for 22 projects of investors from China, Taiwan, and Hong Kong with a total registered investment capital of 3.08 billion USD.
According to the assessment of the Department of Industry and Trade, recently, investment projects from China have focused on the processing and manufacturing industry with operational objectives consistent with the orientation of the industry, profession, and priority fields of attraction of the province set out in Resolution No. 01-NQ/TU dated November 16, 2020 of the Provincial Party Committee, contributing to promoting the formation of a chain of projects for the production and assembly of electronic and electrical equipment and textile and garment industrial production in the province. Currently, the production and business situation of Chinese FDI projects is stable and effective, contributing positively to the socio-economic development of the province; helping to create jobs, increase labor productivity, create revenue value and contribute significantly to the GDP growth of the province.
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