Production and business activities of foreign direct investment (FDI) projects, especially large – scale projects, have been greatly contributing to boosting Quang Ninh’s socio-economic development.
From 2012 until now, production and business activities of the FDI projects in the province have grown steadily each year. The total export and import turnover has reached over 10 bil. USD, contributed over 9.500 bil.VND to the state budget. In 2018 alone, the total revenue of the FDI enterprises achieved 45,596 bil.VND, the total export turnover of 1,308 mil. USD, the total import turnover of 1,200 mil. USD, contributed 1,443 bil.VND to the state budget.
According to statistics from Quang Ninh Department of Planning and Investment, currently, Quang Ninh Province has 124 FDI projects with a total investment of over 6.6 bil.USD. Investment promotion and FDI enterprise attraction have been strongly developed and have seen positive results. In the first 9 months of 2019, Quang Ninh granted new investment registration certificates to 8 FDI projects with a total registered capital of nearly 16 mil. USD.
Recently, South Korea’s Bumjin Electronic Co. decided to implement the construction of an audio equipment manufacturing company at Dong Mai industrial zone in Quang Yen Town with a total investment of 40 bil.USD. The project is expected to be constructed in Oct., 2019 and put into operation in this Dec.
Quang Ninh Provice has been continuing to research and implement a series of solutions, such as developing attraction policies, and competitive investment incentive, arranging sufficient capital sources for investing in socio-economic infrastructure, technical infrastructure at industrial and economic zones in line with potential and advantages, enhancing investment promotion and attraction of FDI project with large-scale and high technology application, etc.
At the meeting regarding the implementation and investment attraction of FDI in the first 9 months of 2019, Chairman of Quang Ninh Provincial People’s Committee Nguyen Van Thang emphasized that FDI investment attraction and promotion which will always be actively renewed towards real effectiveness based on two-dimensional viewpoint: Quang Ninh is willing to create the best conditions for investors who also have great contributions to Quang Ninh. Quang Ninh’s Chairman assigned relevant departments and agencies to urgently propose mechanism and policies for FDI project attraction, promotion and support. At the same time, it is necessary to perform better the land clearance, infrastructure improvement at industrial zones, administrative reform, etc.
Translated by Thu Giang
