Fueling the private economy to take off

Determined to make the private economy an important driving force in the growth structure, Quang Ninh province is focusing on implementing a series of breakthrough policies, from administrative reform, institutional improvement, expanding access to resources, to promoting innovation and digital transformation. These synchronous solutions not only create a transparent and favorable investment and business environment, but also stimulate the entrepreneurial spirit, enhance the competitiveness of enterprises, and contribute to the sustainable development of the province.

Comrade Vu Dai Thang, Member of the Party Central Committee, Secretary of the Provincial Party Committee, Head of the Provincial National Assembly Delegation, inspected the activities of AutoLiv Vietnam Co., Ltd. at Song Khoai Industrial Park.

Shaping new growth pillars

According to statistics, the province currently has more than 12,000 operating enterprises, of which nearly 98% are private enterprises, contributing over 57% of GRDP and creating jobs for the majority of local workers. This sector is present in most economic sectors, from processing and manufacturing industries, trade, services to transport infrastructure and tourism.

In the field of processing and manufacturing industry, a series of large corporations have chosen Quang Ninh as their destination: Jinko Solar with a solar panel production project, Foxconn with 5 production projects worth nearly 1 billion USD, Thanh Cong Viet Hung Automobile Factory with a capacity of more than 120,000 vehicles/year. In 2024, the processing and manufacturing industry will contribute 12.43% of the province's GRDP, grow by 21.33%, attract 2.04 billion USD in investment capital and create 5,500 new jobs.

Fiber production at Texhong Ngan Long Science and Technology Co., Ltd. (Hai Yen Industrial Park).

As a manufacturer of polyester, cotton, nylon fibers... Texhong Ngan Long Science and Technology Co., Ltd. (Hai Yen Industrial Park) has produced over 100,000 tons of finished fibers. From 2024 to present, the company has continued to operate stably, averaging about 10.4 tons/month. Ms. Chau Ba Cam, General Director of Texhong Ngan Long Science and Technology Co., Ltd., said: Choosing to invest in Hai Yen Industrial Park, the company has always received support and assistance in all aspects from Quang Ninh province. When the company encounters difficulties, they are quickly supported, removed, and resolved. This is the basis for us to believe in continuing to develop in the long term. Currently, the company has made changes in machinery and product layout. At the same time, it is promoting the exploitation of new markets to expand production orders.

In April 2025, the modern Service Office Complex at Bac Tien Phong Industrial Park invested by DEEP C Group and Hateco was inaugurated and put into operation. Mr. Bruno Jaspaert, General Director of DEEP C Industrial Park Complex, said: Up to now, our industrial park has attracted nearly 6 billion USD in investment capital, of which many secondary projects have come into operation. In the coming time, we will connect Lach Huyen port (Hai Phong city) and the port cluster of 2 DEEP C industrial parks in Quang Ninh. In addition, we are also working to develop the portfolio of current investors.

Currently, Quang Ninh has 8 industrial parks, 2 coastal economic zones and 3 border economic zones. There are more than 300 valid non-state budget investment projects in the province, of which about 150 projects are located in industrial parks, with many big-name investors, such as: Autoliv (Sweden), Amata (Thailand); Jinko, TCL, Texhong (China); Foxconn (Taiwan); Bumjin (Korea); Toray, Yazaki (Japan)... The investment of large enterprises in Quang Ninh not only creates many jobs, but also contributes to technology transfer, improving labor skills and promoting the formation of domestic supply chains. This is considered a strategic step for Quang Ninh to shift from a "brown" to a "green" economy, increasing production value and enhancing global competitiveness.

Panoramic view of Ocean Park (Bai Chay ward) invested by Sun Group Corporation.

In addition to the processing and manufacturing industry, tourism is also one of the economic pillars of Quang Ninh, with the active support of the private business community. Large corporations such as Sun Group, Vingroup, FLC, Tuan Chau have invested tens of thousands of billions of VND in infrastructure and high-end tourism products: Sun World Ha Long Complex, Ha Long International Passenger Port, FLC Ha Long Resort, Tuan Chau International Tourism Area...

Quang Ninh is currently holding a top position on the domestic tourism map and is one of the attractive destinations for international tourists. The number of tourists coming to Quang Ninh increases every year, which is a clear demonstration of the cooperation strategy between the government and businesses in upgrading infrastructure, building unique tourism products, organizing international-scale events such as the Ha Long Carnival, and sea sports competitions. The tourism business community in Quang Ninh not only focuses on exploiting services, but also actively participates in digital transformation, developing green and sustainable tourism. Many units have applied online ticket booking technology, cashless payment, and developed eco-tourism tours, helping to improve the experience of tourists and protect the environment of Ha Long Bay.

Not only growing strongly in scale, the private economic sector is gradually playing the role of a “locomotive” in transforming the economic structure of Quang Ninh. A series of private investment projects in the fields of renewable energy, logistics, supporting industries and high-end service infrastructure have helped diversify the economy, aiming for sustainable development and deep integration into the global value chain.

The key to "opening the way" for private enterprises

On May 4, 2025, the Party Central Committee issued Resolution 68-NQ/TW on developing the private economy into an important driving force of the socialist-oriented market economy. Immediately afterwards, the Quang Ninh Provincial Party Committee issued Action Plan No. 547/KH-TU dated June 6, 2025 to thoroughly grasp, concretize and seriously and effectively implement the guiding viewpoints, goals, tasks and solutions to implement Resolution No. 68-NQ/TW, aiming to innovate thinking, raise awareness and responsibility of Party committees, Party organizations, authorities, cadres and Party members about the position, role and importance of the private economy.

Thereby, creating unity in perception and action, mobilizing and promoting the combined strength of the entire political system in developing a fast, sustainable, effective, high-quality private economy, contributing to promoting growth, creating jobs, improving labor productivity, enhancing the province's competitiveness, meeting the development requirements of Quang Ninh province in the new era.

Workers at Thanh Cong Viet Hung Automobile Factory (Viet Hung Industrial Park) operate the vehicle component assembly system.

On this basis, the province sets specific goals by 2030 as follows: Strive to establish an average of over 2,000 new enterprises per year in the 2026-2030 period; by 2030, reach 12-15 operating enterprises per thousand people; strive to have at least 5 private enterprises in the top 500 largest private enterprises in Vietnam according to the VNR 500 Program; the private economic sector contributes about 40-45% of the province's GRDP, about 35-40% of the province's total budget revenue, creating jobs for about 85% of the total labor force in the province; labor productivity increases by an average of about 8.5-9.5% per year; Quang Ninh private enterprises are among the leading localities in the country in applying, transferring science and technology, innovation and digital transformation with advanced potential and level of science and technology, innovation in some important areas; the level, capacity of technology, innovation, digital transformation of private enterprises reach regional, national and international levels. By 2045, there will be at least 3,000 newly established enterprises/year, contributing about 50% of the province's GRDP.

Infrastructure of Bac Tien Phong Industrial Park, Lien Hoa ward.

Accordingly, Quang Ninh has proposed synchronous solutions to promote the private economic sector to become an important driving force of the province. In particular, focusing on raising awareness of the role and position of the private economy, thoroughly implementing Resolution No. 68-NQ/TW to the entire political system, business community and people; promoting propaganda, encouraging the spirit of entrepreneurship and business, spreading good models and effective methods, and strictly prohibiting acts of harassment and providing false information that affect businesses.

Along with that, the province strongly implemented administrative reforms, improved institutions, reduced at least 30% of the time to process administrative procedures, compliance costs and business conditions, and resolved 90% of business recommendations within the month. The government committed to eliminating the "ask - give" mechanism, ending overlapping inspections and checks, increasing remote inspections based on data, exempting businesses from on-site inspections for good compliance, and ensuring the principle of clearly distinguishing criminal, administrative and civil responsibilities so as not to disrupt production and business activities.

Chairman of the Provincial People's Committee Pham Duc An awarded investment certificates to enterprises investing in Mong Cai 3 ward. Photo: Do Phuong

On the other hand, Quang Ninh continues to create favorable conditions for enterprises to access resources in terms of land, capital, high-quality human resources; publicly and transparently disclose information on planning and development plans; support investment in infrastructure of industrial parks, industrial clusters, and technology incubators. At the same time, reduce land rents for high-tech enterprises, small and medium-sized enterprises, and innovative startups; prioritize credit for supporting industry enterprises, innovative enterprises, green transformation, and digital transformation. The province also focuses on developing human resources through training, international cooperation, encouraging successful entrepreneurs to participate in sharing experiences; promoting the development of science and technology, innovation, digital transformation, and green transformation by effectively implementing resolutions and specialized projects, developing shared digital data infrastructure, supporting research, technology application, and establishing innovation centers.

Another important direction is to strengthen the connection between private enterprises with state-owned enterprises and FDI enterprises, forming industry clusters and supply chains; encouraging large enterprises to lead and transfer technology to small enterprises, while prioritizing the attraction of FDI projects using domestic supply sources. Quang Ninh also promotes the formation and development of national-scale private corporations, participates in key projects, promotes public-private cooperation in economic, social infrastructure, information technology, and implements a program to develop 1,000 typical enterprises in technology, innovation, and supporting industries.

Production activities at Tonly Electronics Vietnam Co., Ltd. (Dong Mai Industrial Park).

For small, micro and household businesses, the province focuses on allocating clean land, synchronous infrastructure, encouraging the conversion of household businesses into enterprises, providing free digital platforms, accounting software, legal consulting services, supporting access to capital for disadvantaged groups, ethnic minorities, mountainous areas and islands. Along with that, promoting business ethics, developing corporate culture, entrepreneurs, encouraging participation in charity, environmental protection, maintaining regular dialogues between the government and the business community, promoting the role of business associations in policy criticism and comments, contributing to creating a transparent, open, stable and sustainable investment and business environment.

Nguyen Thanh

Source: https://baoquangninh.vn/tiep-suc-de-kinh-te-tu-nhan-cat-canh-3371376.html