Quang Ninh province vows to support investors

Secretary of the Party Committee of the northern province of Quang Ninh Nguyen Xuan Ky has pledged to support investors and create optimal conditions for them to operate in the locality in terms of administrative procedures, land, site clearance and workforce, as well as asset security and safety.

The official made the commitment while addressing an investment promotion conference jointly held by Quang Ninh and the Vietnam Chamber of Commerce and Industry (VCCI) on July 26.

The conference brought together representatives from 21 economies of the Asia-Pacific Economic Cooperation (APEC) forum. It took place on the occasion of the third meeting of the APEC Business Advisory Council (ABAC) in Ha Long city from July 26 to 29.

Ky said Quang Ninh will also offer convenient public services and an open, fair and transparent investment environment to businesses, and will work to minimise legal risks and administrative costs for them.

VCCI Chairman Pham Tan Cong stressed that Quang Ninh represents the development potential and dynamism of Vietnam, and the province holds an important strategic geographical position, serving as a gateway connecting Vietnam with China and other ASEAN countries.

Quang Ninh has an international airport, seaports, Mong Cai international border gate, and uniform, modern infrastructure, including information-technology infrastructure, he added.

The VCCI Chairman expressed his hope that the conference will help Quang Ninh lure more investments and create more breakthroughs in the time ahead.

Statistics show that Quang Ninh’s gross regional domestic product (GRDP) last year reached over 238 trillion VND (10.18 billion USD).

It is home to major economic areas such as Quang Yen, Van Don and Mong Cai, and 15 industrial parks. Additional eight industrial parks will be formed in the future.

The province has coordinated with its neighbouring localities like Hai Phong, Hai Duong, Bac Giang and Lang Son in resources and transport infrastructure development.

Quang Ninh has paid special attention to the planning work. Its development strategy for 2021-2030 with a vision towards 2050 saw the consultation of leading firms like McKinsey of the US and Nikken Sekkei of Japan.

At the conference, many foreign investors called on Quang Ninh to push ahead with procedures and policies on customs, and facilitate their access to high-quality human resources.

On this occasion, Quang Ninh presented investment licenses to two FDI projects with combined investment 55.56 million USD.

In the first six months of this year, the province issued new licences and adjusted licences for 9 FDI projects with a total value of 149.6 million USD. By the end of June, Quang Ninh was home to 150 FDI valid projects from 20 countries and territories with total registered capital of 8.26 billion USD.

In 2021, despite the COVID-19 pandemic, Quang Ninh province maintained a double digit growth rate, at 10.28%, ranked second in the country after Hai Phong city.

The local economic structure also shifted towards sustainable development, with the service and industrial sectors increasing, and conversely agriculture, forestry and fishery sectors gradually declining.

Quang Ninh has always been in the group of provinces and cities contributing the most to the national budget. Its total social investment capital in 2021 reached 88.728 trillion VND, accounting for 8.8% of the region’s total, ranking third in the delta after Hanoi and Hai Phong. The province’s proportion of state capital decreased sharply from 79.9% in 2005 to 32.8% in 2020, while its efficiency of using investment capital was the highest in the country.

In addition, Quang Ninh has seen its administrative reform, business climate, and competitiveness continuously improved. Since 2013, the province has maintained nine consecutive years in the group of five provinces and cities with the best quality of economic management in the provincial competitiveness index (PCI) rankings. The province led the Red River Delta region in the period and the nation for five consecutive years from 2017 to 2021.

Quang Ninh province now is considered having relatively complete transport infrastructure nationwide with airports, highways, and modern seaport systems. The operation of local projects in the field has helped to promote socio-economic development, modernize the transport infrastructure, and ensure a faster connection regionally and internationally.