Determined to set a new record in attracting FDI.

Having passed the halfway point in its 2024 FDI attraction campaign, Quang Ninh is among the top three localities nationwide in terms of attracted capital, reaching US$1,543 million. With a target of attracting at least US$3 billion for the whole year, the province is implementing many comprehensive solutions to attract investment, making it a crucial driving force for economic growth.

Comrade Cao Tuong Huy, Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee, presented the Investment Registration Certificate to Foxconn Group to implement two projects with a total capital of 551 million USD in early July 2024.

Recognizing the fluctuations in the international investment environment, especially the strong shift in foreign investment flows at present, Resolution No. 20-NQ/TU (dated November 27, 2023) of the Provincial Party Committee on the direction and tasks for 2024 has identified attracting investment in general, and FDI in particular, as the main driving force to ensure growth.

Based on plans and objectives developed in accordance with directives from the Government and resolutions of the Provincial Party Committee and Provincial People's Council, from the very first days and months of 2024, the Provincial People's Committee directed units and localities to develop specific plans for their respective units to focus on improving the quality of investment promotion and attracting foreign investment. Simultaneously, they focused on researching, revising, and improving the effectiveness of a unified investment promotion model throughout the province, following a "closed-loop" process from supporting investment procedures to post-investment support.

The province has also directed specialized agencies to build a close coordination mechanism between agencies and departments in exchanging information, building shared data, and ensuring information consistency; to work specifically with each industrial park infrastructure investor to review and assess their capacity to meet requirements, focusing on administrative reform and preparing clean land; to urgently implement investment in technical and social infrastructure construction according to the plan to meet the needs of secondary investors; to handle the revocation of slow-moving or inefficient projects; and to supplement clean land and potential for attracting new investment projects…

To gather information and proactively seek strategic investors, Quang Ninh has worked with the Ministry of Planning and Investment to understand the investment needs of major FDI investors. From there, it directly connects with, approaches, and invites them to research and invest in Quang Ninh. Investment promotion efforts are implemented with a clear objective, focused, and in-depth approach; researching and selecting industries aligned with investment attraction strategies, focusing on green, clean, and high-tech projects.

With a systematic and specific approach, tailored to the desires, requirements, and development goals of investors, by the end of June 2024, the total FDI attracted to the province reached US$1,543 million, equivalent to 141% of the plan for the first six months of the year, 51.6% of the 2024 plan, and nearly 9% of the total investment nationwide. Quang Ninh ranks third nationwide in terms of registered foreign investment, after Bac Ninh and Ba Ria - Vung Tau.

The Song Khoai Industrial Park in Quang Yen town is invested in by the Amata Group.

To date, Quang Ninh has attracted 130 FDI projects from 20 countries with a total registered capital of nearly US$14 billion. Currently, nearly 10 projects from the United States, South Korea, China, and Taiwan are requesting investment registration certificates. Relevant agencies are implementing legal procedures and guiding investors in completing their applications. According to the investment cycle, the demand for international investment shifts will increase sharply in the final months of the year as investors prepare for infrastructure and factory construction for the following year, meeting development needs. Therefore, with Quang Ninh's current approach, the demand for investment in the province in the final months of the year will certainly increase significantly, making the target of achieving at least US$3 billion in total FDI capital in 2024 very achievable.

With the province's strong leadership and guidance from the beginning of the year, and the innovative, diversified, and enhanced promotion of investment attraction methods and scale, especially focusing on key markets, Quang Ninh has quickly attracted the attention of many domestic and foreign businesses and investors. In the context of the current strong global investment shift, Quang Ninh will certainly set a new record in attracting FDI in 2024, further affirming its role as the FDI attraction center of the country.

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