Quang Ninh - An attractive destination for foreign investors

With its strategic location, modern infrastructure, open investment environment and sustainable development orientation, Quang Ninh province is gradually affirming its role as one of the leading localities in attracting foreign investment. Up to now, Quang Ninh has become a reliable destination for many international investors, including enterprises from Korea, one of the important and potential partners in economic and trade development cooperation.

Báo Quảng Ninh•13/05/2025

Automatic robot component manufacturing activities at Bumjin Electronics Vina Company, in Dong Mai Industrial Park (Quang Yen Town).

Currently, in Quang Ninh province, there are 218 FDI projects of investors from 20 countries and territories around the world carrying out production and business activities with a total registered investment capital of over 16.77 billion USD. In terms of investment partners, Korea ranks 10th, with 14 projects, a total registered investment capital of over 308.2 million USD, accounting for about 1.9% of the total FDI capital of the province.

Although the number of projects is not large, Korean projects in Quang Ninh are quite diverse in fields and bring positive results. Korean investors have researched and invested in many areas with strong development potential, such as: Ha Long City (7 projects), Cam Pha City (1 project), Mong Cai City (1 project), Quang Yen Town (4 projects), Dong Trieu City (1 project). Of which, there are 6 projects implemented in industrial parks and economic zones and 8 projects implemented outside industrial parks and economic zones.

Industries and fields that Korean investors are implementing in the province include: Processing and manufacturing industry; information and communication; food services; real estate business; agriculture, forestry and fishery; wholesale and retail;education and training... Including projects such as: LPG liquefied petroleum gas warehouse in Bac Tien Phong Industrial Park (Quang Yen Town) with an investment capital of 206.6 million USD, by E1 Corporation (Korea) in cooperation with Yen Hung Petrochemical Joint Stock Company (Vietnam). This is the largest project among Korean FDI projects in Quang Ninh. Or Bumjin Electronics Vina Factory in Dong Mai Industrial Park (Quang Yen Town), with a total investment capital of 30 million USD, producing modern electronic components such as audio equipment, internet-connected television equipment and wireless network access equipment; Vina New Tarps Company Limited produces canvas, synthetic plastic...

Mr. Lee Young Ho, Director of SAP Vina Co., Ltd., Song Khoai Industrial Park (Quang Yen Town) said: The unit specializes in manufacturing car seat belts and is currently completing the production line. It is expected that by September 2025, the unit will complete all equipment and automatic production lines and be able to supply 1.5 million products/year. Coming to study investment in Quang Ninh, the unit highly appreciated the synchronous traffic infrastructure, modern industrial parks and economic zones, the gateway location for trade with China and ASEAN, along with the support and facilitation of provincial authorities at all levels for businesses. In addition, Quang Ninh still has a lot of room to attract investment from Korea in the fields of automobile industry, shipbuilding industry, high-tech agriculture, green industry, etc. These are all areas where Korea has strengths and are also the areas in which the unit is operating. Hopefully, in the coming time, there will be more Korean enterprises coming to invest in Quang Ninh.

Assembly and completion of the car seat belt production line at SAP Vina Co., Ltd., Song Khoai Industrial Park (Quang Yen Town).

To continue attracting Korean investors to invest in Quang Ninh, the province also has many measures to accompany and remove difficulties for Korean enterprises. Typically: In March 2025, the Provincial Investment Promotion and Support Board (IPA) coordinated with the Korean Investment Support Board at the Trade Promotion Agency - Ministry of Industry and Trade (Korea Desk) to organize a working session to meet and remove difficulties and obstacles for Korean enterprises. At the meeting, Korean enterprises were updated with information on the investment environment and preferential policies and investment support mechanisms in the province. At the same time, they were directly answered questions and removed difficulties related to: Handling administrative procedures; adjusting investment project progress, attracting labor resources, providing stable power sources and input materials; creating conditions for enterprises to expand project investment...

In the coming time, Quang Ninh province will continue to strengthen international investment promotion activities, especially through economic diplomacy channels, promotion seminars in Korea, "Meet Korea" conference; strengthen training of officials with Korean communication skills; develop a smart and friendly "one-stop-shop" mechanism to support investors... At the same time, promote effective exploitation of advantages in terms of geographical location, regional connectivity and specialized industrial parks to propose policies to attract investors in general and Korean investors in particular, aiming to invest in high value-added and environmentally friendly fields.

Currently, although the number of projects of Korean investors in Quang Ninh is not large, the potential for cooperation between the two sides is huge. With efforts to improve the investment environment, proactively seek strategic partners and create favorable conditions for foreign investors, Quang Ninh is becoming an attractive destination for a new wave of investment from many countries in the coming time.

Minh Duc

Source: https://baoquangninh.vn/quang-ninh-diem-den-hap-dan-cho-cac-nha-dau-tu-han-quoc-3357479.html