Attracting FDI: Efforts to conquer new heights

With over 3.13 billion USD of foreign direct investment (FDI) attracted in 2023, Quang Ninh has made a bold mark when it quickly rose to the leading position nationwide in attracting FDI, surpassing "leaders" such as Ho Chi Minh, Hanoi, Hai Phong. This is a worthy result, reflecting the province's efforts in improving the business investment environment, calling for and promoting investment in recent times. Not prematurely satisfied with its achievements, the province continues to be steadfast in its focused and focused FDI investment promotion strategy.

Talking numbers"

By the end of November 2023, according to data published by the Ministry of Planning and Investment, total FDI capital in the province reached over 3.13 billion USD, equal to 313% of the target of the Resolution of the Provincial Party Committee and People's Council. province, equal to 261% of the 2023 plan set by the Provincial People's Committee and equal to 127.8% of the same period in 2022. Quang Ninh is currently the leading locality among provinces and cities across the country in attracting FDI in 2023. This is also This is the record number of FDI attraction of Quang Ninh ever. From the beginning of the year until now, the province has issued new Investment Registration Certificates for 25 projects, with a total registered investment capital of more than 3.13 billion USD; adjusted to increase capital of 3 projects with an additional capital of 28.86 million USD. Notably, FDI projects attracted to the province are increasingly of high quality, focusing on industries that the province pays great attention to. In the fourth quarter of 2023 alone, the province attracted 2 FDI projects with an investment capital of over 500 million USD, including the Jinko Solar Hai Ha Vietnam photovoltaic cell technology complex project with a registered capital of more than 1.5 million USD. billion USD and Lite-on Quang Ninh Factory project (690 million USD).

Since 1990 when Quang Ninh officially attracted the first FDI project, up to now, the province has 169 FDI projects of investors from 20 countries and territories around the world being implemented. production and business with total registered investment capital of approximately 11.66 billion USD. Foreign investors have been investing in 16 industries out of 21 national economic sectors. Of which, the processing and manufacturing industry leads in both the number of projects and registered investment capital (accounting for 42.4% of total FDI capital), followed by the production and distribution of electricity, gas, and water. heat, steam (accounting for 36% of total FDI capital).

Not only did the amount of registered investment capital improve, FDI projects also gradually came into stable operation, starting to make positive contributions to the socio-economic development of the province in particular and the country in general. By the end of the third quarter of 2023, FDI projects in the province are estimated to disburse nearly 700 million USD; Total revenue from production and business activities of FDI projects reached nearly 3.4 billion USD; Total import-export turnover is estimated at nearly 4 billion USD. The FDI sector has contributed about 76 million USD to the state budget, equivalent to nearly 2,000 billion VND and is currently contributing to creating jobs for nearly 43,000 workers.

Electronic component manufacturing activities of Bumjin Vina Electronics Co., Ltd. (Dong Mai Industrial Park, Quang Yen Town).

The above numbers partly demonstrate the success of a long journey where Quang Ninh constantly strives with innovation, creativity, and changes from thinking, awareness to action in improving the investment environment. business, creating solid trust for the business community, investors, and creating a serving government. Attracting FDI capital with projects with large investment scale, modern technology, and creating new value not only contributes to the province's economic growth 

results, but also affirms the correctness in determining the province's economic growth. direction of transforming the development method from "brown" to "green", contributing to making Quang Ninh become a dynamic, comprehensive and modern development center.

To become the new "capital" of foreign capital flows

In order to have a spectacular journey of progress, the locality leads in attracting FDI capital, first of all, the province accurately assesses the general situation early, from afar, correctly identifies and hits the key work orientation of the year. 2023 when choosing one of the two main parts of the year's work theme is "improving investment attraction efficiency". The province has a series of creative, flexible solutions suitable to the actual situation. In particular, the province is interested in removing difficulties and obstacles for businesses and investors in the process of carrying out legal procedures, construction investment and production and business activities are given special attention and focus. .

Yarn production at Texhong Ngan Ha Co., Ltd. (Hai Ha Seaport Industrial Park).

Along with that, taking advantage of being the first locality in the Red River Delta to have the Prime Minister approve the Provincial Planning for the period 2021-2030, with a vision to 2050, Quang Ninh province has drastically implemented solutions to attract investment, especially FDI investment capital, which first of all is to urgently complete construction planning, planning, and land use plans; Urging industrial park and economic zone infrastructure investors to complete technical infrastructure systems, create clean land funds to be ready to attract quality FDI projects. However, for this attraction to turn into truly sustainable "class", Quang Ninh still has a lot of work to do.

Up to now, in the province there are 169 FDI projects of investors from 20 countries and territories around the world carrying out production and business activities. In terms of investment partners, traditional partners of the Vietnamese market still account for the majority of projects and capital. Among them, investors from Hong Kong are still the leading partners with more than 1.5 billion USD, accounting for nearly 50% of total FDI capital attracted; followed by Taiwan with 925 million USD, accounting for nearly 30%, Singapore with more than 286 million USD, accounting for 9.2%. Along with that are a number of investors from Japan, the United States, UAE, Indonesia, Thailand... 2023 is the first year that Quang Ninh receives investment capital flows from Europe with the Company's project. Autoliv Vietnam Limited (Swedish investor) has a total investment of 154 million USD in Song Khoai Industrial Park (Quang Yen Town). Most new investment projects with large total capital this year are from enterprises that already have production and business investment projects in the area. However, the number of projects coming from new markets is not as high as expected, proving that the province has not yet achieved maximum efficiency in investment promotion. In the coming time, in addition to following traditional investors, Quang Ninh will pay more attention to accessing new markets, expanding and diversifying investment capital sources.

Korean businesses and investors explore investment opportunities in DEEP C Industrial Park (Quang Yen Town).

Current orientation, Quang Ninh prioritizes attracting investment in industries and fields where the province has outstanding competitive advantages, has different potential, and creates great added value. In particular, priority is given to the processing industry, manufacturing, supporting industries, high-tech industries, smart technology and tourism, modern general services... However, in 2023 , only the processing and manufacturing industry witnessed prosperity with 22 projects, accounting for 99.2% of total investment capital.

Sharing about this issue, Mr. Nguyen Van Nhan, General Director of Amata Ha Long Urban Joint Stock Company (investor of Song Khoai Industrial Park), said: To create favorable conditions for infrastructure businesses and investors Investing in the promotion and implementation of investment 

research, Quang Ninh needs to quickly issue a more specific list of priority industries and projects with restrictions on attracting investment. Along with that, the province needs to issue a set of criteria to evaluate the investment efficiency of projects so that infrastructure investors have a clear orientation from the beginning when approaching partners, improving investment promotion efficiency. The province also needs to have specific preferential policies, along with conditions to receive incentives. These will help Quang Ninh's investment promotion work as well as infrastructure businesses achieve the highest efficiency.

Ha Long University signed a Memorandum of Understanding on cooperation with Vietnam Japan University - Hanoi National University with the determination to develop high quality human resources, skilled workers and especially skilled workers. Use Japanese language in the province.

The second issue that many investors are concerned about is ensuring human resources, especially high quality labor, in Quang Ninh. According to forecasts, in the next period from 2024-2025, Quang Ninh's human resource demand will continue to increase sharply, forecast to be over 28,000 people; In the period 2026-2030, it is necessary to recruit about 76,000 additional workers (corresponding to the need for nearly 14,900 additional workers each year to meet human resource needs). Of which, it is expected that 6,200 people with university degrees or higher, 4,600 people at college, 3,700 people at intermediate level, 3,000 people at primary level, 3,900 people in regular vocational training and 82,600 people for general labor. . Along with the rapid increase of investment capital into the province, it shows the huge challenge in providing a workforce for businesses and investors who have been and will choose Quang Ninh as the location to build and open. expand production and business activities.

Sharing and suggesting to Quang Ninh about this issue, Mr. Bruno Jaspaert, General Director of DEEP C Industrial Park Complex, said: Quang Ninh should not consider cheap labor as an advantage to attract investment but must Focus on high-quality, well-trained labor resources that meet standards for industrial production, services, and import-export. To do that, there needs to be the cooperation of the three "houses" (state - school - business) to increase the quantity and improve the quality of labor. Schools need to promote universalization of general education, vocational training and foreign languages. Businesses need to join hands with remuneration policies, training and skills development to attract workers to industrial parks and economic zones. The State focuses on welfare such as building houses, hospitals, and kindergartens to attract and retain workers to live and work long-term...

Provincial leaders and leaders of Quang Yen Town directly worked to find solutions to difficulties and problems for Song Khoai Industrial Park infrastructure investors.

In the new period, the signal of a "wave" of FDI pouring into Quang Ninh is still very strong. According to economic experts, Quang Ninh's potential to attract FDI is still very large when the locality is planned with the most industrial parks and economic zones in the North. The province also has a large surplus of land resources, typically the Quang Yen coastal economic zone, a bright spot in attracting investment in the province, currently still has over 9,700 hectares of clean land fund. Receiving this signal, the province is trying to take advantage of its advantages, promote its potential, and especially is determined to completely solve the remaining problems so that it can truly become a new "capital" of Vietnam. foreign investment capital flow.

Song Ha