Quang Ninh strives to lure over 1 billion USD of FDI to industrial parks this year

The northern province of Quang Ninh has carried out many investment attraction solutions to strive to lure over 1 billion USD of foreign direct investment (FDI) to industrial parks and economic zones this year.

The local agencies have paid great attention to strengthening the leadership of Party committees at all levels and the management of authorities, and the engagement of political and social organisations in investment activities as well as improving investment management and promotion efficiency and ensuring the rights and interests of investors.

The province has also concentrated on developing hi-tech and support industrial zones, specialised industrial parks, and industries serving for the 4th industrial revolution. The locality has also given priority to attracting projects applying new and advanced technologies with modern management practices and high-added value, and those with ripple effects that connect to global production and supply chains.

So far, the local authorities have worked with over 100 delegations of foreign investors who come to explore investment opportunities and seek to expand their investment in the locality, including big businesses such as BP of the UK, JTA (Quatar), Jinko Solar and TCL of Hong Kong (China), Lite-On Technology, Tera and Neotek of Taiwan (China), Mitsubishi, Yaskawa Electric, Tamagawa Seiki, and Sojitz (Japan) and China's Pacific Construction Group Ltd (CPCG), and China First Highway Engineering Co., Ltd (CFHEC). In the first nine months of 2023, the provincial authorities granted new investment licenses to 19 FDI projects worth 826.54 million USD; and approved capital addition for 36 others, lifting total FDI capital poured into the locality to 853.93 million USD, equivalent to 71.2% of the yearly plan.

Quang Ninh ranks ninth among localities across the country in term of FDI attraction.