Quang Ninh's FDI attraction hits 478 million USD in January

The northern province of Quang Ninh attracted eight foreign direct investment (FDI) projects with registered capital totaling 478 million USD in January.

Notably, the Gokin Solar of Hong Kong (China) project's photovoltaic cell technology complex has the highest capital investment, amounting to 274.8 million USD.

Quang Ninh"s FDI attraction hits 478 million USD in January | Business | Vietnam+ (VietnamPlus)
A corner of Ha Long city in Quang Ninh province. (Source: VNA)

As planned, there will be an additional seven investors from the US, China, and Taiwan (China) investing in Quang Ninh in the remaining months of the first quarter. The locality expects to lure 1 billion USD in the first four months of 2024, or one-third of the plan set for the year.

Last year, it reported a breakthrough in attracting investment outside the budget, with a total capital of nearly 5 billion USD. Of this, FDI attraction topped 3.1 billion USD.

Quang Ninh also emerged as one of the leading localities nationwide in attracting foreign-invested projects in the year.

This was the record-breaking year in attracting new-generation FDI capital after more than 20 years since the first FDI project in the province in 2002.

The province is home to nearly 200 foreign-invested businesses from 20 countries with a total capital of nearly 14 billion USD. FDI projects are mainly high-tech and environmentally friendly with modern management and high-added value, which joined in global value chains.

From record results of FDI attraction in 2023, Quang Ninh sets to continue making breakthroughs and emerge as a top destination for FDI attraction nationwide.

According to Chairman of the Provincial People’s Committee Cao Tuong Huy, Quang Ninh prioritizes attracting foreign investment, focusing on key sectors, and multinational conglomerates across various industries, especially areas where the locality holds significant competitive advantages and distinct potentials.

It also concentrates on repositioning its investment capital flow, prioritizing the connection of global production and supply chains, and attracting green investment, high technology, and supporting technologies, he said.

Foreign investors have been investing in 16 out of the 21 national economic sectors. The FDI sector has contributed over 76 million USD to the state budget, helping generate jobs for nearly 43,000 workers.

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Quang Ninh attracted 8 FDI projects with 478 million USD in January
(Source: VNA)