Quang Ninh calls for investment in development projects

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The northern province of Quang Ninh has released a list of projects which need investment in the 2014-16 period and a vision to 2020.

An image of Van Don Economic Zone in Quang Ninh. The provincial authorities will give preferential policies to investment projects in the province. Photo — halonginvest

HA NOI (Biz Hub) — The northern province of Quang Ninh has released a list of projects which need investment in the 2014-16 period and a vision to 2020.

The list comprises 35 projects in the fields of infrastructure for transport, industrial park and urban areas, and complexes for culture, sport, tourism and trade, health services, education and training, environment and agriculture.

Among these, many are big projects with an expected investment capital of billions of US dollars. The leading one is a casino project in the Van Don Economic Zone, which was to have between $4 billion and $5 billion in investment and was scheduled to open by 2019.

The investors of the project will enjoy exemption from paying land rent for seven years from the date of the project's operational launch. In addition, the province will offer a 50 per cent cut in income tax for the local people and foreigners working for the project.

The other important projects are the Ha Long–Van Don–Mong Cai highway with a total length of 153.3 kilometres and having six lanes; a non-tariff green industrial park in the Van Dong Economic Zone on an area between 250 and 500 hectares; the Dam Nha Mac industrial service area; and the Phuong Hoang island ecological tourism site. These projects have investment capital of $2.52 billion, between $1.3 and 1.5 billion, $530 million and $250 million, respectively.

A report from the provincial Planning and Investment Department showed that there are 97 foreign direct investment projects in the province with a total registered capital of more than $4.8 billion, of which 53 projects from China and Taiwan. In the first four months of this year, the province granted investment licences to three FDI projects with a total registered capital of more than $261 million, an increase of 280 per cent year over year and comprising 60 per cent of this year's target. — VNS

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