Investment News

Increase capital and increase the quality of new generation FDI projects





Implementing the 2023 work theme "Improving the efficiency of investment attraction and people's quality of life", in the first 6 months of the year, the total capital attracted foreign direct investment (FDI) into Quang Ninh is estimated at 832 million. 1 million USD, reaching 83% of the Provincial Party Committee's Resolution target, equal to 69.3% of the Provincial People's Committee's plan. Notably, most FDI projects invested in Quang Ninh are "new generation projects". - Processing and manufacturing industry towards advanced, modern, green development, using few resources in accordance with the goals set by the province...

 Bac Tien Phong Industrial Park marketing staff introduces investors to strategies to attract investment into the Industrial Park. Photo: Manh Truong

One of the bright spots in the economic picture of Quang Ninh province in the first months of this year is the results of attracting investment capital. In particular, the province has issued new investment registration certificates for 17 FDI projects, 2.5 times higher than the same period in 2022. In particular, in addition to continuing to attract FDI capital from investors in traditional market, the first time Quang Ninh province received capital flows from investors from Sweden was the project of Autoliv Vietnam Co., Ltd. investing in Song Khoai Industrial Park (Quang Yen Town). The project has a total investment of 154 million USD, producing safety products for cars and other motor vehicles for export, with a design capacity of 10 million products/year, thereby contributing to diversifying the market. investment partners of the province, increasing the total number of investment partners in Quang Ninh province from 19 to 20 countries and territories.

In particular, at the end of June, Quang Ninh province awarded an investment certificate to Foxconn Group to build 2 factories worth nearly 250 million USD in Song Khoai Industrial Park, Quang Yen Town. These two projects are expected to create jobs for nearly 2,000 local workers, while increasing the number of the Group's projects in Quang Ninh to 3 projects with a total capital of over 300 million USD (accounting for about 1/10 of the scale). investment of Foxconn Group in Vietnam). It is worth mentioning that the above two projects were granted investment certificates by the province in just 12 working hours from the time the investor submitted their application online through the province's Public Service Portal, shortening the application processing time by 14 working days compared to regulations.

Also at Song Khoai Industrial Park, at the end of June, Amata Ha Long Urban Joint Stock Company and Castem Vietnam Company Limited signed a contract to sublease land use rights (45 years) to implement the construction project. The factory produces and sells precision mechanical parts, with a value of nearly 19 million USD. This is the first Japanese enterprise to invest in Song Khoai Industrial Park...

To get that result, in promoting and attracting investment, Quang Ninh does not chase quantity, but chooses quality. The province's perspective is to continue implementing traditional investment promotion methods, but to increase effectiveness, the scale of events must be increased and show the province's respect. Therefore, instead of waiting for investors to come to them, Quang Ninh is always proactive and positive, focusing on approaching influential organizations and individuals with a decisive role.

Along with that, support for investment procedures and removal of problems are quickly resolved through the Investor Care Team - supporting and urging to speed up the implementation of projects and support working groups. project implementation... The province also soon issued the Investment Promotion Program for 2023 and deployed the development of a Project to attract large, branded FDI investors into the province. Specifically, focus on attracting selective investment of new generation FDI capital into industrial parks and economic zones, the focus being Quang Yen coastal economic zone and Mong Cai border gate economic zone; Prioritize high-tech, environmentally friendly processing and manufacturing projects with high investment capital and major contributions to the budget. At the same time, build solutions and investment promotion strategies for large, well-known and reputable economic corporations such as Lite-On Technology Group from Taiwan (China), the United States Business Council. Ky - ASEAN, Saigon Newport Corporation, Taiwan Electronics Business Group (China), Adani Group and Mitsubishi Corporation Vietnam Co., Ltd.

The province has also focused on directing the completion of planning and plans, especially general planning, regional planning, subdivision planning and land use plans; promptly remove difficulties and problems related to site clearance, land, investment, and construction. Furthermore, Quang Ninh's industrial land fund is still abundant, meeting the needs of building large-scale industrial complexes, and rental prices are also competitive compared to some neighboring localities such as Hai Duong and Hai Phong. Currently, Quang Ninh has about 548.61 hectares of industrial land that has been invested in infrastructure and is ready for lease; By 2025, it is expected to have 3,658 hectares and by 2030 there will be about 5,904 hectares.

In 2023, Quang Ninh aims to attract about 1.2 billion FDI capital. With what has been done in the first 6 months of the year as well as the potentials and advantages that the province has, the whole year's goal is certainly completely achievable. According to many investors, Quang Ninh is a promising land that brings development to economic corporations and businesses both domestically and internationally, especially when the province's infrastructure system is at a high level. Expressways, airports, ports... are continuously invested and perfected. In addition, the province's open and transparent mechanisms and policies, especially the reform of administrative procedures, have created peace of mind and attracted investors. Surely in the coming time there will be many investors in developed countries coming to explore investment opportunities in Quang Ninh.

Hoai Anh BQN