Mong Cai seeks FDI for projects

09:16 | 12/10/2015 Economy

The economic zone at the Mong Cai border gate with China has attracted 20 foreign direct investment (FDI) projects with the total registered investment capital of US$1.1 billion and hundreds of domestic investment projects, officials said at a meeting yesterday.

Mong Cai seeks FDI for projects

A view of Mong Cai City in Quang Ninh Province. The province has called for more foreign direct investments. — VNA/VNS Photo Nguyen Dan

Another 40 projects are seeking investment. They involve transportation, infrastructure, culture, trade, services, health, education, electricity, the environment, agriculture and industry.

Yesterday, the People's Committee of Mong Cai City and Hai Ha District in the northern province of Quang Ninh held a meeting to introduce opportunities to domestic and international investors.

The Mong Cai border gate economic zone was set up in 2012. It covers 121,197 hectares, more than 11 per cent of the province's total area. The zone is considered an important link with ASEAN and Northeast Asian countries - and southern China in particular.

Nguyen Xuan Ky, secretary of Mong Cai city's Party Committee, said the zone was a driving force for provincial growth.

Courting investors

The northeast province of Quang Ninh introduced a number of projects to southern enterprises at a conference titled ‘Quang Ninh – Potential and Investment Opportunities' held in HCM City on Wednesday.

At the conference, advantages, potential and investment opportunities in Uong Bi City, Ba Che district and Co To Island district were introduced to investors in the south.

Among the projects are a waste water treatment plant in Uong Bi city as well as a high-class resort, a tourism ship terminal and a hi-tech seafood processing line on Co To Island.

Truong Manh Hung, Deputy Head of Quang Ninh's Investment Promotion Agency, affirmed enterprises would be eligible for incentives when investing in infrastructure, health, education, manufacturing and services with a substantial workforce.

Le Huong Giang, Deputy Director of the Ministry of Planning and Investment (MPI)'s South Centre for Investment Promotion, said Quang Ninh is one of the provinces with bold, creative and breakthrough changes in administrative reforms, reorganising growth models, improving business investment environments and enhancing tourism and transport infrastructure investments.

Quang Ninh's Provincial Competitiveness Index (PCI) was in the top five in 2013 and 2014, meaning that more and more companies consider Quang Ninh an attractive investment destination, said Giang.

As of September 2015, the province had attracted foreign investors from 17 countries and territories with a combined registered capital of $5.1 billion.

Domestic investment capital from 2012 to 2014 reached VND68 trillion ($3.3 billion).

In the first nine months of 2015, domestic private investment capital worth nearly VND30 trillion ($1.4 billion) flowed into Quang Ninh with projects from big companies such as Vingroup, Sungroup and BIM Group.

This is the first time Quang Ninh has coordinated with the MPI's South Centre for Investment Promotion and the Association of HCM City Enterprises to organise a such conference./.

Source: VNS