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Northern province emerges as FDI destination
2010 is considered as a successful year for the northern province of Quang Ninh in attracting foreign direct investment.
In the first ten months of the year, more than 2.2 billion USD were registered to be injected into the province, a 116-fold increase compared with the figure for the whole of last year.
The result helped the province jump from the 30 th position to second ranking in the country in FDI attraction, after the southern province of Ba Ria-Vung Tau.
The most important thing is that the result shows strong foreign investor interest in Quang Ninh – one of seven cities and provinces belonging to the northern key economic zone, which boasts abundant mineral resources, numerous large economic and industrial zones, a completed motorway and waterway infrastructure, modern sea ports, and is well-placed for the development of industries and commodity trade.
In the past ten months, the province welcomed some 40 foreign investors from the Republic of Korea, Japan, Canada, China, Thailand, Russia, India and the US to seek investment opportunities.
By now, Quang Ninh province has had 100 valid FDI projects capitalised at nearly 3.76 billion USD, which, as the local authorities assessed, have been contributing to fetching high export turnover and creating jobs for over 10,000 local labourers.
However, the structure and the allocation of investment projects are different in areas and industries, for example, up to 48 projects worth nearly 1.5 billion USD are concentrated in Ha Long city, which has the best infrastructure in the province.
The number of large-scale projects represents only 16 percent of FDI, focusing on thermo-electricity and sea port infrastructure development.
Moreover, the number of foreign investors engaging in prioritized projects in transport infrastructure, industrial zones, international trade centres, urban development and high-quality tourist services is still modest.
Nhu Thi Hong Lien, Deputy Chairwoman of the provincial People’s Committee, said the province will complete policies to attract and manage FDI, upgrade basic infrastructure and ensure a quality labour supply in order to attract more FDI.
vietnamplus
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