More than 1.7 billion USD of FDI committed to invest in Quang Ninh

6:25:02 PM | 7/27/2022

The 2022 Quang Ninh Provincial Investment Promotion Conference with the theme "Quang Ninh Convergence and Spread" was held on the afternoon of July 26, on the occasion of the third meeting of the APEC Business Advisory Council (ABAC) in Ha Long City.

This is also Quang Ninh's first investment promotion conference in 2022, with the participation of ABAC members from 21 economies in the Asia-Pacific region. These are large corporations in the world, operating in the fields of industry that Quang Ninh orients to call and attract investment.

It is possible to mention the field of electronics manufacturing and processing industry with the presence of NEC Corporation (Japan's multinational electronics and information technology corporation), Quanta Computer Corporation (one of the world's leading laptop manufacturers), BAE Systems plc Group (British multinational aerospace, security, and space company, largest in Europe and ranked seventh largest in the world) world based on current 2021 sales). Or UPS Corporation - United Parcel Service - one of the world's oldest and largest express delivery businesses based in the United States); Leading corporations in the field of energy such as Manufacturing Council of PNG….

In addition, the conference was attended by a number of prestigious international organizations such as the Singapore Business Federation (SBF), and the Federation of Thai Industries (FTI)...

At the conference, two major foreign investors signed a memorandum of understanding, committing to invest with a total capital of more than 1.7 billion USD in Quang Ninh.

Specifically, Stavian Quang Yen Petrochemical Joint Stock Company committed to investing 1.5 billion USD in DEEP C's Bac Tien Phong Industrial Park to implement a project to produce Polypropylene (PP) resins.

Vietnam Investment Q Limited Company (under Indochina Kajima Development Co., Ltd., a joint venture between Indochina Capital and Kajima Group, Japan) signed an agreement to keep land (7.6 hectares in land lot CN5 of Bac Tien Phong Industrial Park) with DEEP C, to build and develop a system of high quality and modern ready-built factories and warehouses, with an estimated investment capital of 23.9 million USD.


                             MOU signing ceremony at the conference

Three new projects were awarded investment registration certificates right at the conference with a total capital of more than 68.7 million USD.

Which, the Investment Certificate of BW Bac Tien Phong Industrial Development Project CN2.1C was awarded to BW Bac Tien Phong Industrial Development Co., Ltd. The project has a total investment of 20.5 million, to build and develop a system of high-quality and modern ready-built factories and warehouses in Bac Tien Phong Industrial Park.

The second project is the Jinko Solar Vietnam Warehouse (Jinko 3) of Jinko Solar (Vietnam) Industry Co., Ltd. in Song Khoai Industrial Park, with a total investment of 35.56 million USD.

The third project is of Jinko Solar Vietnam, with a total investment of nearly 12.65 million USD, investing in a social housing area in Dong Mai ward, Quang Yen town to serve workers and employees of the enterprises in Song Khoai Industrial Park.

Mr. Nguyen Tuong Van, Chairman of Quang Ninh Provincial People's Committee introduced to investors the outstanding comparative advantages of Quang Ninh. According to Mr. Van, the biggest advantage comes from its geo-strategic position in terms of politics and economy when it is the only locality in the country with both land and sea borders with China, including 3 border gates. This is the foundation to promote the development of cross-border trade, and the exchange of goods and services with the world's most populous country.

The second advantage comes from rich natural resources, rich natural ecosystems, diverse terrain with the sea, forest, and mountains along with world natural heritages Ha Long Bay, Bai Tu Bay. Long, has outstanding potential in marine economic development and a long seaport system is gradually forming.

The third advantage is that the province's socio-economic infrastructure system is gradually being invested in a synchronous and modern manner, with a full range of transport modes (including highways, airways, waterways, etc.). - international maritime). In particular, Quang Ninh has a highway of more than 200 km running throughout the province (accounting for 1/10 of the national highway length), making the travel time from Hanoi to Ha Long only 1.5 hours to Mong Cai city (the international border gate of Quang Ninh province) is only 3 hours away.

The fourth advantage in attracting investment in Quang Ninh is the "soft" infrastructure system. Investment - business environment ranked first in Vietnam for 5 consecutive years; establish a working group to support all investment, construction, production, and business procedures during the project's operation.

The fifth advantage lies in the largely industrial area. Quang Ninh currently has 2 coastal economic zones, 3 border gate economic zones, and 16 industrial parks. Quang Ninh's economic zones and industrial parks are connected to each other by a system of highways... Currently, there are 548.61 hectares of industrial land invested with infrastructure that can be ready for investors to lease, by 2025 there will be 3,658 ha and by 2030 there will be 5,904 ha. Many other advantages in terms of labor resources, electricity, and water infrastructure are also introduced to investors.

Mr. Csaba Bundik, Vice President of the Central and Eastern European Chamber of Commerce commented: “Quang Ninh province is very well known by European investors due to the benefits related to logistics and location. It is not a natural achievement but a result of Quang Ninh's long-term strategy and long-term vision."

In the past time, many new models to serve businesses and investors have been established and effectively operated by Quang Ninh such as the Center for Public Administration Service, the Investment Promotion and Support Committee, the Investor Working Group Care...

Hien Le