Investment News

Economic growth driver



830 million USD is the total FDI attraction capital of Quang Ninh achieved in the first 6 months of 2023. This capital source is mainly invested in the processing and manufacturing industry (CBCT), which is increasingly affirmed as a driving force for growth. New chief of Quang Ninh.

 Comrade Cao Tuong Huy, Acting Chairman of the Provincial People's Committee awarded Investment Registration Certificates to 2 projects (FECV Foxconn Quang Ninh Factory and FMMV Foxconn Quang Ninh Factory) with a total capital of nearly 250 million USD. Photo: Hoang Nga

In 2020, in the context of the Covid-19 epidemic outbreak, the province's main economic driver is services - tourism, which is forecast to be severely affected, the global investment shift trend is strong..., Quang Ninh province issued a ban. issued the first resolution of the term - Resolution No. 01-NQ/TU on rapid and sustainable development of the CBCT industry in the period 2020-2025, orientation to 2030.

Up to now, after 2.5 years of implementation, Quang Ninh has become a development center in the North with an increasing amount of investment capital in this field. The development of the CBCT industry not only creates jobs for workers who are in the transition period due to the impact of the Covid-19 epidemic, but is also an important driving force for the economy, one of the pillars of the economy. main pillar of growth.

Specifically, since the period when Quang Ninh issued Resolution No. 01-NQ/TU with the view of developing the CBCT Industry, it will be to create a reasonable structure with high competitiveness; Prioritize and attract businesses that apply modern technology, clean technology, reduce resource loss, create products with high added value and participate in the global value chain... Up to now, the province has There are more than 1,000 enterprises operating in the field of CBCT Industry, with a total registered capital of over 100,000 billion VND; The average growth rate of this industry increases by 23.6% per year, contributing over 10% of the province's GRDP structure.

In particular, in the most difficult period due to the impact of the Covid-19 epidemic, investment capital in the CBCT Industry in the province is still highly pervasive, forming a strong "wave" of investment in a short time. The highlight is the appearance of most economic corporations and famous international brands from: America, Czechia, Japan, Thailand, Korea, China and Sweden... with the appearance of the brands TCL, Foxconn, Jinko Solar... Among them, many investors have been implementing large projects with huge capital of up to hundreds of millions of dollars, bringing the total investment capital of the CBCT Industry In the past 2.5 years, it reached over 41,300 billion VND. Of which, FDI capital reached over 1,300 million USD, creating jobs for nearly 16,000 workers inside and outside the province.

Notably, the strong development of the CBCT Industry has helped the province carry out spatial distribution and planning of economic zones and industrial parks. In particular, the orientation to attract investment for development has been clearly shown, initially forming a high-tech textile industrial chain in Texhong Industrial Park; automobile manufacturing industrial chain in Viet Hung, Song Khoai, Dong Mai, Bac Tien Phong industrial parks; Mechanical industrial chain manufacturing and assembling electrical and electronic equipment in Dong Mai Industrial Park, Song Khoai Industrial Park...

 Assembling TVs at Foxconn factory, Dong Mai Industrial Park (Quang Yen Town).

Mr. Hoang Trung Kien, Head of the Management Board of Quang Ninh Economic Zone, said: The outstanding results of the CBCT Industry in recent times have affirmed the boldness, innovative thinking, creativity, daring to think, daring to do, Dare to make breakthroughs and be decisive in the actions of the top leaders of the province. In the context of the coal industry facing difficulties and the service and tourism industry being affected by the epidemic, Quang Ninh has prioritized the development of the CBCT industry by issuing Resolution No. 01-NQ/TU - the first Resolution priority of the term with 38 tasks belonging to 8 specific solution groups to focus on implementation. This approach has made an important contribution to Quang Ninh maintaining double-digit growth for 7 years, a typical province, leading the country in many fields, a bright spot in innovation in the Northern Delta region.

It can be seen that, in the current period, competitive pressure on human resources and investment environment is increasing; The rapid development of industrial parks and industrial clusters in the region and the strong investment shift trend have forced Quang Ninh to take action. With determination, bold breakthroughs and achievements over the past 2.5 years, the CBCT Industry has gradually affirmed itself as an important driving force of the dynamic and modern economy of Quang Ninh. This will help the province soon realize its long-term development plans, becoming a growth pole in the Northern region as desired by General Secretary Nguyen Phu Trong at a working session with the province in 2022.

Do Phuong