Quảng Ninh likely to log $1 billion of FDI in Q1

Friday, Feb 23, 2024 16:26

Phạm Xuân Đại, Head of the Quang Ninh Economic Zone Authority, presents an investment registration certificate to a multi-functional safety work glove production project at the Texhong Hai Ha Industrial Park on February 1, 2024. — Photo courtesy of Quang Ninh

The northern province of Quảng Ninh, is likely to attract US$1 billion in foreign direct investment (FDI) in the first quarter of the year. The province had achieved a total FDI of over $3.1 billion in the previous year.

In the current year, foreign investors have already invested nearly $478 million in eight projects located in various industrial parks within the province. Most recently, the Quảng Ninh Economic Zone Authority granted investment certificates to two foreign-funded projects in the Texhong Hải Hà Industrial Park and the Song Khoai Industrial Park in Quảng Yên township, with a combined value of more than $330 million.

It is anticipated that seven investors from the United States, China, and Taiwan will contribute additional capital to Quảng Ninh during the remaining period of the first quarter.

To date, the province has attracted nearly $14 billion in investment from approximately 200 foreign enterprises representing 20 countries and territories. These companies primarily focus on high-tech projects, employ environmentally friendly practices, adopt modern management approaches, create high added value, and participate in global value chains. — VNS

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