Over the past period, FDI capital has made a positive contribution to the growth and development achievements of Quang Ninh . Particularly in the first nine months of 2024, with many positive solutions in improving the investment and business environment, attracting and promoting investment, Quang Ninh province continued to be chosen as a destination by many foreign businesses.
In the first nine months of 2024, Quang Ninh province issued new investment registration certificates (IRCs) for 27 FDI projects with a total registered capital of over US$1.7 billion. Among these, two projects received new IRCs after project adjustments: the Paper Offering Factory project at Kim Sen Industrial Park (Kim Son ward, Dong Trieu town), with an investment of US$0.82 million (a project where a foreign investor acquired 100% of the capital contribution in the economic organization implementing the project), and the AEON Mall Ha Long shopping center project, with an investment of over US$214 million. The number of newly issued IRCs was 1.4 times higher than the same period last year, with the total registered investment capital from these projects nearly double compared to the same period last year. The province also adjusted investment registration certificates for 48 projects, 9.5 times higher than the same period in 2023. Of these, 19 projects had their capital increased by an additional $207.41 million, a 7.8-fold increase compared to the same period in 2023. The majority of newly registered projects are located in industrial parks in Quang Yen town and Hai Ha district, bringing the total FDI attracted to industrial parks and economic zones in the period to nearly $1.6 billion, accounting for 87.2% of the total FDI in the province. This includes 22 newly registered projects with a total investment of nearly $1.38 billion; and 17 projects with increased capital totaling nearly $204 million.
Specifically in the third quarter of 2024, Quang Ninh province issued new Investment Registration Certificates for 3 FDI projects with a total registered capital of nearly 251 million USD, including: the Plastic Product Manufacturing and Assembly Project at Bac Tien Phong Industrial Park by Eva Limited (Hong Kong), with an investment of 2 million USD; the Lingrong Vietnam Electronics and Household Appliance Manufacturing Plant Project at Dong Mai Industrial Park by Lingrong Technology Hong Kong Limited, with an investment of over 34 million USD; and the AEON Mall Ha Long Shopping Center Project, with an investment of over 214 million USD. The province also adjusted Investment Registration Certificates for 12 projects, including increasing capital for 3 projects with an increase of 8.21 million USD, including: the Investment Project for a Factory producing and processing various types of yarn, and embroidering various types of scarves, fabrics and garments at Texhong Hai Ha Industrial Park by Quoc Xuan Nam Thong Textile Co., Ltd., with an increase of 0.2 million USD; The Baike Vehicle Vietnam project of Baike Vehicle Vietnam Co., Ltd. increased by US$4.5 million; the Calofic Co., Ltd. project increased by US$3.5 million. Total FDI attracted in the third quarter reached over US$259 million, equivalent to VND 6,032 billion, which is 181.8% of the same period in 2023 (US$142.54 million, equivalent to VND 3,339.19 billion).
From the beginning of the year until now, foreign investors have invested in Quang Ninh in 6 out of 21 national economic sectors. Leading the way is the processing and manufacturing industry with a total investment of nearly US$1.6 billion, accounting for 85.6% of the total registered investment capital. The projects attracted to the province are also increasingly of high quality, including 3 projects with investment capital exceeding US$200 million: the Gokin Solar Hai Ha Vietnam photovoltaic monocrystalline silicon wafer project at Texhong - Hai Ha Industrial Park by Gokin Solar Company Limited (Hong Kong), with an investment of nearly US$275 million; the Smart System project at Bac Tien Phong Industrial Park by Foxconn Singapore Pte Ltd, with an investment of over US$287 million; and the Smart Entertainment Products project at Song Khoai Industrial Park by Foxconn Singapore Pte Ltd, with an investment of nearly US$264 million. In terms of the number of projects, the processing and manufacturing industry also leads with 23 newly approved projects (accounting for 85.2%) and 15 projects with increased capital adjustments (accounting for 79%).
The concentration of processing and manufacturing industry projects in economic zones, industrial parks, and industrial clusters is consistent with the Quang Ninh Provincial Planning for the period 2021-2030, with a vision to 2050, approved by the Prime Minister in Decision No. 80/QD-TTg (dated February 11, 2023), and the socio-economic development orientation of the province as clearly stated in Resolution No. 01-NQ/TU of the Provincial Party Committee on the rapid and sustainable development of the processing and manufacturing industry in the period 2020-2025, with an orientation to 2030.
The production and business activities of FDI projects in the province have shown promising results in the past period. In the first nine months, FDI projects in the province disbursed over 844 million USD, equivalent to 102.5% of the same period in 2023. Total revenue from production and business activities of FDI enterprises reached over 4.7 billion USD; total import and export turnover is estimated at over 4.2 billion USD. The FDI sector contributed nearly 102 million USD to the state budget, equivalent to over 1,417 billion VND, and is currently providing employment for approximately 48,300 workers. Compared to the same period in 2023, total implemented investment increased by 2.5%; total revenue of FDI enterprises increased by 48.2%; export and import turnover increased by 8.9% and 7.5% respectively; and state budget revenue increased by 30.5%. Total number of workers in the FDI sector increased by 13.7%.
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