Quang Ninh's FDI attraction hits US$1.52 billion in 6 months

Quang Ninh province’s investment capital attraction achieved high results thanks to planning solutions, removing difficulties in clearance, and selecting new-generation foreign inflows.

Quang Ninh has attracted more than US$1.52 billion worth of foreign direct investment (FDI) in the first half of this year and is poised to reach its goal of $3 billion in FDI for the full year.

According to the province’s Investment Promotion and Support Board, FDI was put mainly into high-tech fields and environmentally friendly industries with high added value, enabling the northern coastal province to participate in the global value chain.

FDI in the manufacturing and processing industries is particularly helpful for the province’s development goals, which helped establish production chains in the electronics and garment industries.

The manufacturing and processing industry was the standout of the province in the first half of this year with a growth rate of 23.05 per cent, 10.3 percentage points higher than the same period last year.

The province collected an estimated sum of VND30.774 trillion (US$1.2 billion) for the state budget in the first six months of this year, or 55 per cent of its target.

Over the same period, 795 new firms were founded in the province, creating about 17,400 jobs. This figure is up 12.6 per cent year-on-year.

In 2023, Quang Ninh province led Vietnam in FDI attraction in 2023, receiving total investment capital of over $3 billion, 3.1-fold higher than the annual target.