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$1.4 billion invested in Quang Ninh in first nine months

Released at: 17:38, 07/10/2015

$1.4 billion invested in Quang Ninh in first nine months

Northern province proactive in promoting and seeking all forms of investment.

by Thu Hoang - Tran Ky

Domestic investors poured nearly VND30 trillion ($1.4 billion) into northern Quang Ninh province in the first nine months of this year, the Quang Ninh Investment Promotion Agency (IPA Quang Ninh) told an investment promotion conference for the province held in Ho Chi Minh City on October 5 and attended by nearly 50 companies from the City, Binh Duong, Dong Nai, Vung Tau, and elsewhere in the south.

The provincial government recognizes that attracting investment resources from outside of the State and provincial budgets will contribute to promoting the province’s economic restructuring, boost exports, contribute to local budget revenue, and create jobs, Mr. Truong Manh Hung, Deputy Head of IPA Quang Ninh, told the gathering.

A number of major investors such as Vingroup, Sungroup, and BIM are developing large-scale projects, including the Ha Long - Hai Phong Highway, Bach Dang Bridge, the Ha Long - Mong Cai Highway, Van Don Airport, and Ocean Park, he added.

An improved investment and business environment and greater competitiveness in Quang Ninh are proven by the provincial mindset in organizing promotion, investment, and science policies, according to Mr. Pham Ngoc Hung, Deputy Chairman of the Ho Chi Minh City Enterprise Association (HEA).

“All of these factors are suitable with the interests of all economic sectors,” he added. Quang Ninh has been proactive in promoting and seeking investors and this should attract more high-quality investors to the province.

HEA is ready to take on the role as a bridge to link and invite more than 8,000 corporate members of the association to look at investment opportunities in Quang Ninh in the future.

Quang Ninh also announced a list of projects calling for investment in the 2015-2020 period at the conference, including the Phuong Nam Industrial Zone infrastructure investment project, Yen Trung Lake Resort, projects developing a sewage system and a children’s play area in Uong Bi city, and a tourism development project in Co To district, among others.

KomTek JSC, a consulting corporation focusing on strategy consulting, operational consulting, market consulting, and technology consulting has committed to accompanying Quang Ninh in promoting and attracting other investors to the province under a memorandum signed between the company and IPA. The company will introduce strategic investors to certain projects where Quang Ninh is calling for investors in the 2015-2020 period.

Investors from 17 countries and territories had invested in 104 projects in Quang Ninh as at the end of September, with total registered capital of nearly $5.1 billion. according to IPA figures.  

Domestic investment in the province totaled nearly VND68 trillion ($3.3 billion) from 2012 to 2014.

  • TAGS
  • Quang Ninh
  • investment
  • promotion
  • Quang Ninh Investment Promotion Agency

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