FDI Quang Ninh. (Source: Vietnamnet)

Breakthrough to lead the country

According to the latest report of the Foreign Investment Agency (Ministry of Planning and Investment), the total newly registered capital, adjusted capital, and capital contribution and capital contribution of foreign investors was over 25.76 billion USD, up 14.7% over the same period, down 7 percentage points compared to 9 months. The number of new investment projects also continued to increase by 66.1% over the same period.

In terms of investment locations, foreign investors have invested in 55 provinces and cities nationwide in October 2023. Of which, Quang Ninh has surpassed Hanoi, Hai Phong, Ho Chi Minh City... to lead the country in attracting foreign direct investment (FDI).

Total registered investment capital is nearly 3.09 billion USD, accounting for nearly 12% of total registered investment capital and increasing by 41.3% over the same period in 2022.

Accordingly, the total FDI capital in Quang Ninh increased sharply due to the increase in registered capital for newly granted projects. Specifically, in the first 9 months of 2023, Quang Ninh only granted new FDI projects with a total newly registered capital of nearly 810 million USD.

In October, the province granted investment certificates to 4 new projects with a total registered capital of more than 2.2 billion USD. As a result, the total registered capital for newly granted projects in Quang Ninh in the first 10 months of 2023 increased to 3.08 billion USD.

Striving to attract more than 1 billion USD

In 2023, Quang Ninh aims to attract more than 1 billion USD of FDI capital into industrial parks (IPs) and economic zones (EZs) in the province. To realize this goal, the province has focused on implementing many solutions, paying special attention to accompanying businesses, reforming administrative procedures, promoting and supporting investment for potential partners...

Accordingly, the province has proactively improved the investment and business environment in an open, transparent and attractive manner; effectively implemented the "one-stop" mechanism in granting investment certificates; effectively supported investors in providing information related to investment projects, guiding investment procedures, building and implementing projects; urging, removing difficulties, speeding up investment progress...

Quang Ninh also issued many support policies, such as prioritizing investment in industrial parks and economic zones in the province in terms of site clearance costs, investing in wastewater treatment systems, supporting vocational training for workers at secondary enterprises in industrial parks and economic zones; supporting enterprises in applying science and technology to production and business, supporting credit capital, etc.

Investment promotion activities directly and through the functional agencies of central ministries, branches and international organizations are also focused on. In the first 9 months of 2023 alone, the province received and worked with over 110 delegations of foreign investors coming to work, research, explore investment opportunities and expand scale.

Among them, there are many large corporations and enterprises, typically: BP (UK), JTA (Quatar), Jinko Solar, TCL (Hong Kong, China), Lite-On Technology, Tera, Neotek (Taiwan, China), Mitsubishi, Yaskawa Electric, Tamagawa Seiki, Sojitz (Japan), China Pacific Construction Group, China Highway Engineering Company Limited (CFHEC)...

In addition, Quang Ninh Investment Promotion and Support Board (IPA) also organizes many proactive investment promotion programs for a number of large FDI investors such as: Samsung Electronics Vietnam, VSIP, Unilever Vietnam, GreatStar Industrial Vietnam Co., Ltd., Deli Vietnam Co., Ltd.

For example, at the end of August 2023, IPA organized a proactive investment promotion program at a number of major FDI investors from typical markets, such as: Samsung Electronics Vietnam (Korea), VSIP (Singapore), Unilever Vietnam (UK), GreatStar Industrial Vietnam Co., Ltd., Deli Vietnam Co., Ltd. (China).

DEEP C Industrial Park, Quang Ninh. (Source: Investment Newspaper)

Positive Movement

Through the promotion program, FDI investors are interested in ensuring essential infrastructure such as electricity, water, telecommunications, high-quality human resources and are especially interested in administrative reform procedures in the investment sector, site clearance, visa procedures, global minimum tax policy, and government support and promotion of investors in implementing their role of social responsibility to the community (CSR).

Major FDI investors are also impressed by the positive movements of Quang Ninh province in recent years in investing in developing transport infrastructure, especially efforts in improving the business investment environment, leading the country in PCI Index for many consecutive years...

In particular, Quang Ninh always focuses on developing and promoting existing advantages in attracting FDI investment in industrial parks and economic zones through investment in facilities, infrastructure, and human resources.

In the first 9 months of 2023, Quang Ninh province has newly issued investment registration certificates (IRCs) to 19 FDI projects with a total registered capital of 826.54 million USD; adjusted IRCs for 36 projects, including increasing capital in 2 projects with an additional capital of nearly 26.41 million USD, reducing capital in 2 projects with a capital reduction of 16.48 million USD; issued notices on meeting the conditions for capital contribution, share purchase, and capital contribution purchase for 3 foreign enterprises/investors with a capital contribution value of 5.98 million USD.

In 2022, Quang Ninh continues to hold the top position, leading the Provincial Competitiveness Index (PCI) for the 6th consecutive year, the 2nd time (2020 and 2022) conquering the leading position nationwide in all 4 administrative reform indexes, improving the business investment environment (PCI, PAPI, PAR Index, SIPAS) and 10 consecutive years in the group of 5 provinces and cities with the best economic management quality in the country.

Maintaining its position in the leading group of important indicators of government capacity on the national rankings over the past time is the foundation for the province to develop sustainably in terms of economy; successfully implement strategic breakthroughs; and create trust with investors and businesses.

Along with the continuous development of infrastructure and the advantage of high-quality human resources, Quang Ninh continues to maintain its attractiveness, attracting "eagles" to "nest".