Investment News

The processing and manufacturing industry is shifting positively





In recent years, Quang Ninh has focused on the processing and manufacturing industry, focusing on promoting and attracting investment, initially achieving impressive results.

On November 16, 2020, the Provincial Party Executive Committee issued Resolution No. 01-NQ/TU on rapid and sustainable development of CNCBCT in the period 2020-2025, with an orientation to 2030. Accordingly, Quang Ninh set a goal By 2025, the IT industry will account for over 15% of GRDP; average value-added growth rate of 17%/year; attracting total investment capital of over 50,000 billion VND; create at least 30,000 new jobs. Oriented to 2030, the proportion of the CNCBCT industry accounts for 20% of GRDP; Average value added growth rate of 20%/year; attracting total investment capital of over 100,000 billion VND; creating over 50,000 new jobs.

 Audio equipment production line of Tonly Technology Limited Company in Dong Mai Industrial Park (Quang Yen Town). Photo: Do Phuong

The resolution proposes specific solutions: Rapid and sustainable development of economic zones and industrial parks to create motivation to attract investment and develop CNCBCT; Mobilize all resources to focus on completing a synchronous and modern technical and social infrastructure system to ensure connectivity and overall meet the requirements of rapid and sustainable development of the CNCC industry...

Gradually realizing the goals, with many resources, Quang Ninh focuses on investing in perfecting infrastructure to attract investment, create conditions for businesses to develop production, and ensure goods trade. in which transportation infrastructure is always identified as the key to development. The province has implemented a series of motivational projects to shorten the distance between localities, strengthen regional connectivity, and promote socio-economic development, such as: Ha Long - Hai Phong Expressway, Ha Long Expressway, Ha Long Expressway and Ha Long Expressway. Long - Van Don, Van Don - Mong Cai expressway, Ha Long - Cam Pha coastal road... Along with that, infrastructure in industrial parks and economic zones is invested in synchronously, completely, and modernly.

To attract investment, Quang Ninh promotes reform of administrative procedures and speeds up land clearance of projects. The province established the Provincial Investment Promotion Working Group to direct the approach, promotion, and removal of obstacles in large projects, the driving force of the CNCCCT industry researched by domestic and foreign strategic investors. ; Focus on selectively attracting quality FDI projects into high-tech IT industries; develop ecological industrial parks, specialized industrial parks, and reduce general industrial parks. At the same time, regularly organize meetings, contact and work with businesses and investors to promptly resolve problems.

On average over the past 2 years, the growth rate of the CNCC industry has reached nearly 19%, total investment capital is over 32,976 billion VND, and the total number of employees has increased to about 9,200 people. In the first 6 months of 2023, total investment capital reached 44,017 billion VND; foreign direct investment (FDI) capital is nearly 832 million USD, reaching 83% of the resolution target of the Provincial Party Committee, 63% of the plan of the Provincial People's Committee; 17 FDI projects were newly granted investment certificates, 2.5 times more than the same period last year, mainly in the field of CNCBCT. Among them, there are 2 large-scale projects with investment capital of 100 million USD: Project to produce safety products for cars of Antoliv Vietnam Co., Ltd.; Boltun lock, latch and stamping production project of Taiwanese investor. In the first 6 months of 2023, the CNCC industry grows by 12.57%, accounting for 11.6% of the province's GRDP.

Projects in the field of CNCBCT have been actively invested by investors in building technical and production infrastructure. Typically, Vietnam Knitting Fashion Co., Ltd. produces knitted fabrics; Tonly Vietnam Electronics Co., Ltd. has a new product, a smart bracelet... In particular, 8/14 major processing and manufacturing products met and exceeded the scenario.

With long-term development orientations, the province's IT industry is expected to achieve strong growth in the coming time, making an important contribution to the overall growth results of the whole province.

Hieu Tran