Quang Ninh (VNA) - Investment in industrial parks (IPs) andeconomic zones (EZs) has become a new driver of growth in the northeastern provinceof Quang Ninh, with local authorities issuing various policies to attractinvestors.

According to experts, Quang Ninh is considereda strategic investment destination in Vietnam’s northern region and animportant link in the Hanoi - Hai Phong - Quang Ninh northern economic growthtriangle.

The province possesses major advantages, withVan Don district to become a multi-sectoral marine economic zone and anentertainment centre, with a casino, high-end sea-island tourism, and generalservices.

The province has planned to develop eleven IPs andfour EZs that together span over 368,000 ha, accounting for more than 30percent of Quang Ninh’s total natural area.

Six of the 11 IPs have already been issued investmentregistration certificates and have infrastructure invested in and leased.Investors have so far poured about 27.35 trillion VND (1.17 billion USD) into buildingtechnical infrastructure of IPs such as roads and facilities for electricity,water supply and drainage, and wastewater treatment.  

Nguyen Manh Tuan, head of the management boardof IPs in Quang Ninh, said several parks are having their infrastructure completed,such as the Hai Ha Seaport IP, the Dam Nha Mac Industrial - Service Park, and theSong Khoai IP.

He especially mentioned Viet Hung IP, which iswaiting for the Government’s approval of its second phase of construction, saying thatas a specialised area for manufacturing engineering, processing, and supportindustries, it is expected to attract a large number of secondary investors inthe near future.

Meanwhile, Quang Ninh has also mobilisedapproximately 100 trillion VND to date in developing infrastructure for local EZs.

IPs and EZs in the province have attracted 250projects, including 72 foreign-funded projects, with total registered capital inexcess of 100 trillion VND.

Among IPs with high occupation rates, Cai LanIP has been fully occupied by 33 projects worth more than 10.5 trillion VND, ofwhich over 9 trillion VND is from foreign investors.

The multi-sector Hai Ha Seaport IP, has so far reeledin 14 foreign-invested projects worth over 889 million USD, which are estimatedto have generated about 10,500 jobs.

A large number of major companies have injectedclose to 70 trillion VND into Quang Ninh’s EZs. Three leading real estategiants - Vingroup, Sungroup, and FLC - are asking that local authorities allow themto research investing in a number of large-scale projects at the Mong Cai BorderGate EZ. Their targeted projects include a complex of residential homes andshopping centres in Tran Phu ward, an urban area connecting Bac Luan I and IIbridges, the Ninh Duong urban area and the Tra Co - Binh Ngoc luxury tourismresort, and a high-tech farming area in Hai Dong, Hai Tien, and Hai Yencommunes offering eco-tourism services.

The Van Don EZ has attracted projects worthover 24 trillion VND in just a short period of time, with many expected to becompleted next year. Notable projects include the Sonasea Van Don Harbor Citytourism-resort complex, the Van Hai eco-tourism site, and the Ocean Park urbanarea.

Tenant enterprises in provincial IPs and EZs postedrevenue of close to 2 billion USD last year, with import-export turnoverexceeding 2.4 billion USD. They also created more than 25,000 jobs andcontributed tax payments of over 1.3 trillion VND to the State budget.

Between January and July, despite the impact ofthe COVID-19 pandemic, both revenue and trade turnover of enterprises in QuangNinh’s IZs and EZs surpassed 1 billion USD and they also contributed some 800billion VND to the State budget./.