In the first eleven months of 2013, Quang Ninh attracted US$400 million from FDI projects, equalling the figure from a year earlier and up 15 times in 2011. Despite the economic downturn, the fall in the country’s investment attraction, Quang Ninh made good results. Between January and November, more than 40 investors eyed investment in the province with the projects worth of billions of dollars signed. There were above results because in the recent years, Quang Ninh had many efforts in building open and friendly investment environment in a move to help Quang Ninh become an industrial province in 2015 and an economic dynamics of the north.
Promising destination for FDI investors
Quang Ninh is located at a geostrategic position with many potential and convenient conditions. Because of the capital shortage and hasty thinking, Quang Ninh received projects from all countries and territories that were not clearly defined investment strategy fields, focused to promote the organisation and selected suitable investors. Moreover, the lack of scientific and long-term planning, caused obstacles for long-term investment of investors in the province. Therefore, the province’s investment attraction was low: between 1990 and 2011, the province attracted US$3 billion from FDI projects (including US$2 billion from Mong Duong 2 thermal power project).
Overcoming these limitations and promoting FDI attraction for the process of restructuring and growth model, in the three recent years, Quang Ninh has been promoting the construction and completion planning, socio-economic development planning, making the strategy plan to attract FDI, taking advantage of all resources for investment in infrastructure, diversifying infrastructure systems, focusing on training to improve quality of human resources. The province has offered many incentives and liberal policies for investors. Slow but sure, Quang Ninh actually creates new changes in FDI attraction: in 2012, the province attracted US$412 million, up 15 times from a year earlier and in the first eleven months of 2013, Quang Ninh attracted nearly US$400 million. As of November 31, Quang Ninh attracted 104 FDI projects with total investment capital of US$4.3 billion, accounting for 18.7 percent of total FDI value of the whole country, ranking 16th among 63 provinces and cities. In November, the province signed a cooperation deal with Thailand-based Amata Corporation and Tuan Chau Corporation to build a new high technology urban area with total investment capital of US$2 billion, making great change for Quang Ninh province in the future.
Plans for investment attraction in the coming time
Quang Ninh is determined to renew the growth model, change development plan from “brown” into “green”, stable development based on higher productivity and the balance between the social and economic development priorities and environmental protection. To achieve the model change plans towards green and sustainable growth, building Quang Ninh province to become modern industrial province in 2015, we made plans to attract investment as follows:
Sectors’ plans: Quang Ninh will prioritise investment to build modern and synchronous infrastructure, including transport infrastructure; national power grid infrastructure, irrigation infrastructure, response with climate change and urban infrastructure towards green economic development and development space with one axis and two wings. The province will also call for financial investment, science and technology and brainpower, repair environmental pollution in major cities such as Ha Long, Cam Pha, Uong Bi, especially the disposal of coal mining, industrial waste water, domestic, solid waste, dust, and noise.
Prioritizing the development of services and focusing on attracting investment for the service sector such as culture, gastronomy, shopping, sports, finance, banking, telecom, maritime, aviation, health, education, science and technology transfer, logistics, fishery and entertainment.
In the industry sector, the province will prioritize investment in technology innovation in coal exploitation, thermal power, shipbuilding and green building material. Quang Ninh province will focus on investing in clean industry, supporting industries, processing and hi-tech.
In the agriculture sector, the province will focus on the development of bio-agriculture, clean agriculture, hi-tech agriculture, agro-forestry-fishery processing for exports and tourism.
In terms of region orientation development, Quang Ninh province will boost investment in two main areas. The province will develop Ha Long into a tourism and seaport city with focusing on entertainment and culture sector. Meanwhile, Quang Ninh will develop the industry sector, including green industry in Dong Trieu, Uong Bi, Quang Yen, Hoach Bo and Ba Che in the West while developing bio-urban and luxurious services in the East (Cam Pha, Tien Yen, Dam Ha, Hai Ha, Van Don, Mong Cai, Co To and Binh Lieu) to boost trade activities in Mong Cai and Van Don Economic Zones in the East. Quang Ninh will focus on investing in 11 industrial parks, especially those in Dong Trieu, Uong Bi, Yen Hung, Hai Ha and Mong Cai.
In terms of development partners: Quang Ninh will boost cooperation with major territories and countries such as Japan, South Korea, Taiwan, Singapore and Thailand and some multi-national corporation and leading traders. The province will encourage foreign direct investment (FDI) in hi-tech, clean technology and human resource training as well as attracting big projects.
Solution for investment attraction
The fact shows that a good and strategic planning is vital to attract investors. Thus, the province will focus on synchronizing the master plan on socio-economic development and perfecting urban planning, transport development and environmental protection at all levels, particularly at key areas such as Ha Long, Mong Cai, Van Don and Cam Pha. Quang Ninh will step by step finalize the investment plans to facilitate the operations of foreign investors.
Quang Ninh will continue boosting the administrative reforms towards publicity and simplicity. It has taken drastic measures to cut the number of administrative procedures to 12 now from earlier 34 and provide investors with all needed information on land and planning to quicken the progress of projects. At present, in addition to opening five public administrative centres with “one-stop” system, the locality has urged to build e-governance to provide 1,457 public services at grade 2 and 3, document management system at 18/20 departments, branches, 14 districts and 73 video conferencing places
The province considers the 2013 year as “a year for administrative reforms and manpower training”, which shows its strong commitment to the great politic determination.
Besides, Quang Ninh will enhance the site clearance and finalize the feasible studies for projects, which prioritize the training high-quality workforce; and boost the supporting services for enterprises, manpower development projects and trade promotion as well as perfect investment mechanisms and policies to attract investors.
Moreover, the province will set up strategic partnerships with foreign organizations, associations and companies like JETRO, JICA to seek their support in promoting investment of the locality.