Quang Ninh stable on foreign investor radar

Quang Ninh-based industrial park infrastructure developers reported that about 18 foreign-invested projects are expected to land at the provincial industrial zones (IZs) this year.

Cao Tuong Huy, acting chairman of Quang Ninh People's Committee, just convened a meeting to examine the execution of the master plan on foreign direct investment (FDI) attraction to the provincial IZs.

Based on the registration of the IZ infrastructure developers, Quang Ninh’s IZs are likely to attract 18 foreign-invested projects this year, of which, 16 are fresh projects and two seek capital addition with a total value approximating $1.2 billion, up more than 10 per cent over projections.

Accordingly, 13 new projects are based in the Bac Tien Phong, Song Khoai and Dong Mai IZs in Quang Yen town, one new project is based in Hai Yen IZ in Mong Cai city whereas Texhong IZ in Hai Ha district are expected to attract two new projects, while two existing ones have registered for supplemental capital.

FDI attraction is one of the key tasks to materialise on the Quang Ninh work agenda in 2023 ‘Improving investment attraction efficiency and quality of citizen lives’ as the province is particularly keen on attracting investment and assisting businesses investing in local IZ infrastructure.

At the meeting, the top leader of Quang Ninh People's urged Quang Ninh Economic Zone Authority to make a detailed plan to award investment certificates for each project on a quarterly basis and report to management.

Meanwhile, relevant management agencies were told to coordinate with localities to complete the procedures and plan site clearance for these projects before February 15.

For infrastructure investors in the IZs, it is necessary to accelerate the completion of infrastructure in accordance with the requirements on committed quality and schedule to create attractiveness and selectively attract secondary investors.

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