Quang Ninh province attended, informed about investment opportunities at the Webinar "Strengthening investment cooperation between Vietnam and the Middle East: Potentials, opportunities and new approaches"

On August 26, 2021, the Investment Promotion Agency (IPA) and the Department of Foreign Affairs attended the online conference "Strengthening investment cooperation between Vietnam and the Middle East: Potentials, opportunities and new approaches" organized by the Ministry of Foreign Affairs in collaboration with relevant ministries, sectors and partners in the Middle East region.

The Middle East is known as a region with leading oil and gas reserves, plays an important role in global energy security, has strengths in investment in high-tech industrial applications, in the fields of processing and manufacturing, developing infrastructure of a modern, high-class industrial park, which is a center of logistics and world-class commercial and tourism services. In the context of the COVID-19 pandemic, which has affected world oil prices, Middle Eastern countries also aim to reform their economies in the direction of diversifying revenue sources, reducing dependence on oil, which promotes investment abroad. This is a good opportunity for Vietnam in general and Quang Ninh in particular to attract abundant FDI capital from this region.

The relationship with the Middle East partners has also been focused early on by the Quang Ninh provincial government through the first Middle East investment promotion and research trip of the province's leaders since 2008 and the delegation's business trip to the Middle East. Quang Ninh province worked with a number of large investment groups of the United Arab Emirates (UAE) in May 2014. However, attracting investment from the Middle East to Quang Ninh province is still modest, not commensurate with the potential of the province. That the conference is an opportunity for Quang Ninh province to promote the investment environment, representatives of the Investment Promotion Agency participated in the discussion and had the opportunity to introduce the potential and strengths of Quang Ninh province to Middle Eastern investors. Ms. Vu Thi Kim Chi- Deputy Head of the IPA Standing Committee also emphasized that Quang Ninh attaches great importance to and appreciates investment from Middle Eastern investors. Quang Ninh government is committed to always accompanying and supporting businesses and investors to research and invest in the province.

At the end of the discussion, Mr. Bui Ha Nam, Deputy Director General in charge of the Middle East-Africa Department, Ministry of Foreign Affairs, once again affirmed that Quang Ninh is a locality with a high competitive advantage, and at the same time invited Middle Eastern investors to Quang Ninh to explore investment opportunities after the Covid-19 pandemic is under control.