Quang Ninh province attracts 60.6 trillion VND in investments

10:22 | 05/01/2018 Economy

Total investments in the northern coastal province of Quang Ninh enjoyed a year-on-year surge of 10.1 percent to the tune of 60.6 trillion VND (US$2.68 billion) in 2017 thanks to improved business climate.

Quang Ninh province attracts 60.6 trillion VND in investments - Illustrative image - Source:VNA

According to a report from the provincial Department of Planning and Investment, of the total amount, state capital was 22.9 trillion VND (US$1 billion) and that of non-state capital was 25.7 trillion VND (US$1.14). Meanwhile, foreign businesses poured 12 trillion VND (US$531.6 million) into the province.

Major breakthroughs were made in infrastructure, technology and human resources as parts of efforts to lure investments from large enterprises like Vingroup, Sungroup and FLC Group, said Vice Chairman of the provincial People’s Committee Vu Van Dien.

Tens of trillion VND were splashed out on the upgrade of local infrastructure, giving a momentum for economic development. Those included 7.5 trillion VND Quang Ninh airport project, which serves as a lifeline to turn Van Don island district into a special economic administrative unit in the northern region.

Other giant projects are Ha Long-Hai Phong expressway and construction of Bach Dang bridge project and Ha Long-Van Don expressway project. The two projects will link economic triangle Hanoi-Hai Phong-Quang Ninh, making contributions to bolstering socio-economy in the northern key economic region that comprises seven cities and provinces – Hanoi, Hung Yen, Hai Phong, Quang Ninh, Hai Duong, Bac Ninh and Vinh Phuc.

Regarding the tourism and service sectors, the province allowed large firms like CEO Group, FLC Group, MBLand and Viglacera to develop high-end tourism complexes in 2017.

Investors will kick off the construction of tourism complex chains at Van Dong special zone in 2018 while five-star Furama Ha Long Vietnam Resort & Villas will be built on Quan Lan island to improve service quality and elevate local images in the international arena.

The province is also rushing off its feet to prepare for the construction of 90 kilometer Van Don-Mong Cai highway.

Theo VNA