Quang Ninh aims to attract quality FDI inflows

Quang Ninh aims to attract quality FDI inflows. (Photo: VNA)

The northern coastal province of Quang Ninh has strengthened measures to attract quality foreign direct investment (FDI) inflows, especially from big names in the processing-manufacturing industry.

Hoang Trung Kien, head of the Quang Ninh economic zone management board, said the processing-manufacturing sector continues to significantly contribute to the province’s economic growth in 2023. Quang Ninh is expected to welcome nine new FDI projects in this field in the second quarter of this year.

According to the board, from the beginning of this year, many foreign corporations have come to seek for investment opportunities in Quang Ninh, including Janpan’s Sojitz, China’s Geely, Wish U Success and Campal groups of China’s Taiwan, Škoda of the Czech Republic, and Frasers Property Holdings of Singapore.

In the first quarter of 2023, Quang Ninh attracted nearly 500 million USD in FDI, equivalent to 40.9% of the yearly target.

On March 29, the province granted investment licences to three FDI projects with a total capital of 80 million USD, all in the manufacturing-processing industry.

They include a 55 million USD project to produce automobile rims using light metals in Bac Tien Phong Industrial Park, Quang Yen town by Xiamen Sunrise Group Co.,Ltd., a top wheel manufacturing group from China; and a 15 million USD project to build a plastic plant in Dong Mai Industrial Park, Quang Yen town by Vietnam Lioncore Industries Co.,Ltd.

The Republic of Korea's Samsong Vina Co.,Ltd. received an investment certificate for its 10.3 million USD project to manufacture automobile safety belts in Song Khoai Industrial Park, Quang Yen town./.