Quang Ninh has transformed into a magnet for investors
With a series of strategic initiatives, Quang Ninh has continued to solidify its position as a premier investment destination in the first half of 2025. Two major enterprises have just proposed multi-billion-dollar projects, underscoring the province’s rising appeal to both domestic and international investors.
On July 8, THDV Green Development Investment Consulting JSC held a working session with provincial authorities to present a US$5 billion investment proposal for the GH2 Circular Economy-Green Energy Complex.
The project would comprise three main components: a 713-hectare green hydrogen complex featuring five GH2 modules and 24 domestic manufacturing plants; a 65-hectare Angus beef cattle center, including farming systems, biomass pre-processing plants (sourced from local farmers), feed production facilities, and organic fertilizer processing designed to support the energy output of the GH2 system; and a vast 70,000-hectare raw material zone for agricultural and forestry cultivation.
Two days later, on July 10, Pacific Construction Group announced the completion of a pre-feasibility study and proposed the Cua Luc Bay Road Tunnel Project, with a projected investment of VND 10 trillion (approximately US$390 million). The proposed implementation period spans from 2025 to 2030.
The investor is currently evaluating appropriate PPP models and payment mechanisms in accordance with Vietnam’s investment regulations. If developed under the build-transfer (BT) format, the investor has also requested to conduct a comprehensive planning study for the northern area of Cua Luc Bay.
These two headline-making proposals, arriving within days of each other, highlight Quang Ninh’s growing strategic value and its ability to attract bold, future-oriented investments in the areas of circular economy, renewable energy, and transportation infrastructure, validating the effectiveness of the province’s investment promotion strategy.
Quang Ninh province has recently made a notable shift from conventional administrative oversight to a service-oriented governance model, emphasizing enterprise support. Specialized task forces have been formed to address obstacles faced by businesses, while broad-based administrative reforms are streamlining investor procedures.
In the first half of the year, provincial leadership proactively engaged in dialogues with the business community, resolving 136 proposals related to land access, planning, and legal frameworks.
The province has ramped up land clearance and infrastructure development in its industrial parks and clusters, ensuring they meet technical standards and investor expectations. The readiness of "clean land" has not only reduced project lead times but also enhanced the province’s competitiveness in attracting secondary capital.
According to the Provincial Statistics Office, total realized investment in the first six months of 2025 reached approximately VND 51.4 trillion, up 11% year-on-year. FDI inflows amounted to US$292.01 million, or 18.8% of the same period in 2024, comprising 12 newly licensed projects worth US$173.64 million and 10 existing projects that expanded capital by US$116.47 million.
