 |
| Jinko Solar PV Vietnam Photovoltaic Cell Technology Project officially went into production and business from October 2023, completing the large-scale solar panel production line in Quang Ninh . (Source: Quang Ninh Newspaper) |
Quang Ninh has attracted about 5 billion USD in investment capital, of which foreign direct investment (FDI) reached over 3.1 billion USD. These are record figures in attracting investment capital of Quang Ninh province so far.
Milestone
In June 2023, Foxconn Group - one of the world's leading electronics manufacturing enterprises continued to invest in two production projects in Quang Ninh, namely the FECV Foxconn Quang Ninh Factory project and the FMMV Foxconn Quang Ninh Factory in Song Khoai Industrial Park.
The FECV Foxconn Quang Ninh factory project has an area of 6.3 hectares, with a total registered investment capital of 200.24 million USD, with the goal of forming a factory to manufacture and assemble electronic components, chargers, and electric vehicle charging controllers, expected to be completed and put into production from January 2025; providing jobs for nearly 1,200 workers.
The FMMV Foxconn Quang Ninh Factory project has an area of 4.1 hectares, with a total investment of about 46 million USD, with the goal of manufacturing and processing components and molds of information technology products and communication products. The factory is expected to be operational in October 2024.
The investment in these two projects has increased the number of Foxconn Group's projects in Quang Ninh to 3, with a total capital of over 350 million USD (accounting for about 1/10 of Foxconn Group's investment scale in Vietnam).
During the meaningful October days celebrating the 60th anniversary of the province's founding, at Song Khoai Industrial Park (Quang Yen Town), the Jinko Solar PV Vietnam Photovoltaic Cell Technology Project (Jinko 1) was officially launched and put into production.
Jinko 1 project combined with Jinko Solar Vietnam Silicon Panel Technology Project (Jinko 2) operating since January 2022 has completed a large-scale solar panel production line in Quang Ninh.
When operating at 100% capacity, the project will generate estimated revenue of more than 100,000 billion VND (equivalent to 4.37 billion USD); exporting 100% of products to European and American markets.
After the preferential period, the project will contribute about 1,400 billion VND/year (equivalent to 62 million USD/year) to the budget through corporate income tax. At the same time, it will create stable jobs for about 4,500 workers with an average salary of about 13 million VND/person/month.
 |
| Mr. Nguyen Xuan Ky, Member of the Party Central Committee, Secretary of the Provincial Party Committee, Chairman of the Provincial People's Council, and the working delegation inspected Bac Tien Phong Industrial Park. (Source: BQN) |
Also on the day Jinko 1 officially started production, Quang Ninh province granted an investment registration certificate to the Jinko Solar Hai Ha Vietnam Photovoltaic Cell Technology Complex Project with a total registered investment capital of over VND 34,657 billion (equivalent to USD 1.5 billion).
This event not only marks an important milestone in helping Quang Ninh attract more than 3 billion USD of FDI capital, surpassing "locomotives" such as Hanoi , Hai Phong, Ho Chi Minh City... to rank first in the country in the first 10 months of 2023, but also demonstrates the trust and expectations of Jinko Solar Group, Jinko Solar Vietnam Industrial Co., Ltd. in particular and world-class enterprises and investors in general in the investment environment of Quang Ninh.
Currently, the number of FDI projects newly granted Investment Registration Certificates in the province is 22, with a total registered investment capital of nearly 3.08 billion USD; 2 projects adjusted to increase capital with an additional capital of 26.41 million USD; 3rd level of notice on foreign investors meeting the conditions for capital contribution/share purchase/capital contribution purchase with a capital contribution value of 1.02 million USD.
Newly attracted projects are mainly in the processing and manufacturing sectors. Regarding newly attracted projects, Hong Kong leads in total investment capital, followed by Taiwan, Singapore, Sweden, China, etc.
Besides attracting FDI, Quang Ninh's strong mark in 2023 must also include the fact that the province has spectacularly reached the target of attracting domestic and foreign investment out of the budget nearly half a year early.
Up to now, the total capital attracted from domestic and foreign investment is estimated at 1.9 billion USD (equivalent to 47,000 billion VND), exceeding the plan of the Provincial People's Committee by 17.3%. The number of projects newly granted investment policies is 18 projects, and the number of projects adjusted investment policies is 7 projects, mainly in the mining sector.
 |
| Dong Mai Industrial Park (Quang Yen Town). (Source: BQN) |
Reasons why investors "choose the right place to put their trust"
Mr. Hoang Trung Kien, Head of the Provincial Economic Zone Management Board, said that the fact that investors who have had production and business investment projects in Quang Ninh continue to invest in new projects in the area shows their trust in the province's commitments to accompany and support businesses.
Quang Ninh is not only an attractive destination due to its geographical location and infrastructure, but has also truly affirmed its position as one of the localities with the best economic management quality in the country.
Quang Ninh’s new milestone shows that the locality continues to be a “safe, reliable, and attractive” destination for investors in the region and around the world. At the same time, this is also a worthy achievement recognizing the province’s efforts in improving the business investment environment, administrative reform, supporting and accompanying businesses, and building trust among investors.
The first solid foundation for establishing a position in attracting investment is that the province has been drastically reforming administrative procedures in the fields of investment, land, construction, tax, customs; promptly proposing amendments and cancellations of legal regulations and legal procedures that are still inadequate to promptly remove difficulties and obstacles, and support investors...
In addition, promoting the effectiveness of pioneering models and breakthrough approaches such as public administrative centers at all levels, provincial investment promotion and support agencies, special working groups to support businesses and investors, the "Business Cafe" model and business meetings...
The province also pays special attention to removing difficulties and obstacles for businesses and investors in the process of implementing legal procedures, investment, construction and production and business activities; urgently completing construction planning, land use planning and plans; at the same time, urging investors in industrial park and economic zone infrastructure to complete technical infrastructure systems, creating clean land funds to be ready to attract quality FDI projects.
The province has also focused on implementing investment promotion activities, innovating both content and methods, achieving many remarkable results. The most notable of which is the strong digitization of investment promotion activities, improving the province's investment promotion documents and data to promote to investors in the fastest and most accurate way about the province's potential, strengths and development orientation.
At the same time, be proactive and active in promoting investment with foreign investor delegations to study, learn about investment opportunities and expand investment scale in the province.
Mr. Chau Nghia Van, Deputy General Director in charge of Foxconn Group in Vietnam, commented that the increasing number of billion-dollar investment projects in Quang Ninh is not because the province offers more incentives, but because the provincial leaders have proactively sought out large investors, even when they do not have a need to expand their investment.
A typical example is when hearing the news that Foxconn would expand its investment in Vietnam, the provincial leaders proactively approached and invited Foxconn's representative in Vietnam to Quang Ninh to learn about investment.
"It is the sincerity and openness of the province that has led to Foxconn choosing to invest in Dong Mai Industrial Park, Quang Yen Town after 16 years of development and investment in Vietnam. This was carefully calculated by the Group based on natural, socio-economic conditions and the management and leadership capacity of the locality. Especially when Quang Ninh has been leading the Provincial Competitiveness Index (PCI) for 6 consecutive years", Mr. Chau Nghia Van affirmed.
The leading position nationwide in attracting FDI in the first 10 months of 2023, with a figure of more than 3 billion USD, will be a solid premise for Quang Ninh to be determined to conquer new milestones, truly becoming an attractive destination, a "magnet" attracting world-class businesses and investors to build and expand production and business activities.
Source
Comment (0)