DEEP C Quảng Ninh - appealing investment destination

July 27, 2022 - 13:57
More than US$1.7 billion in FDI capital was committed to the northeastern province of Quảng Ninh at the Investment Promotion Conference 2022 held on Tuesday.

Representatives of Stavian Quảng Yên Petrochemical Joint Stock Company, DEEP C Industrial Zones and Quảng Ninh Economic Zone Authority signed the MoU. — Photo courtesy of DEEP C

QUẢNG NINH — More than US$1.7 billion in FDI capital was committed to the northeastern province of Quảng Ninh at the Investment Promotion Conference 2022 held on Tuesday.

The event “Quảng Ninh: Combine the best” was organised as part of the third meeting of the APEC Business Advisory Council (ABAC 3), running until July 29.

This is Quảng Ninh's first investment promotion conference in 2022, with the participation of around 130 business leaders from 21 APEC economies. They are the world’s largest groups operating in the sectors that the province to call for investment.

A major foreign investor signed an MoU with Quảng Ninh Economic Zone Authority (QEZA) and DEEP C Industrial Zones at the event, committing to invest a total of more than $1.7 billion in the province.

Stavian Quảng Yên Petrochemical JSC will execute its polypropylene project with an investment of $1.5 billion at Bắc Tiền Phong Industrial Zone, developed by DEEP C Industrial Zones. DEEP C will facilitate the investor with land and infrastructure for the smooth operation of the project while QEZA will provide guidance on investment procedures and project implementation.

Representatives of Vietnam Investment Q Company Ltd. and DEEP C Industrial Zones signed the MoU. — Photo courtesy of DEEP C

The Vietnam Investment Q Company Ltd. under Indochina Kajima Development, a joint venture between Indochina Capital and Kajima (Japan), signed a land reservation agreement with DEEP C with a land area of 7.6 hectares for the development of a warehouse and ready-built factory of a high standard under the name Core5 Vietnam. With a total investment of $23.9 million, the investment is targeted to catch the investment trend in Quảng Ninh.

Representatives of BW Industrial Development Bắc Tiền Toward Phong Company Ltd. receive the investment registration certificate. — Photo courtesy of DEEP C

A certificate was awarded to BW Industrial Development Bắc Tiền Toward Phong Company Ltd. with a total investment of $20.5 million. The investor will develop a warehouse and ready-built factory, serving the needs of investment projects in the province. This is the first FDI project in DEEP C Quảng Ninh II granted with an investment registration certificate.

The other projects were given licences for the development of a warehouse and a social housing area.

Investment attraction

The projects committed and granted investment certificates into Quảng Ninh Province at the event will mostly be located at Bắc Tiền Phong Industrial Zone, developed by DEEP C.

DEEP C is a cluster of industrial zones developed and operated by Infra Asia Investment Hong Kong, majority owned by Belgian company Ackermans and van Haaren in Hải Phòng City and Quảng Ninh Province, the fastest-growing region in Việt Nam.

In 1997, DEEP C launched the first development project, the Đình Vũ Industrial Zone (DEEP C Hải Phòng I Industrial Zone), marking co-operation between the Belgian Rent-A-Port Group and the Hải Phòng People’s Committee.

After 25 years of development in Việt Nam, DEEP C has developed three IZs in the port city of Hải Phòng, along with Bắc Tiền Phong IZ and Nam Tiền Phong IZ in Quảng Ninh.

All form the DEEP C IZ Cluster covering an area of ​​3,400 hectares in the regional infrastructure development and production centre, adjacent to the international airport, deep-water port venues, and highways.

The DEEP C Industrial Zones is a prestigious brand in northern Việt Nam, making significant contributions to investment attraction, especially from foreign financiers.

These 25 years of tireless efforts are now yielding fruit. DEEP C IZs in Hải Phòng are now home to nearly 150 investment projects from 120 businesses around the world, with a total investment value surpassing $4 billion.

The customers of DEEP C Hải Phòng include Bridgestone, Knauf Vietnam, Idemitsu, Chevron, C.Steinweg, Flat Group, Pyeong Hwa Automotive, USI Vietnam, Pegatron and Tesa.

The group is now aiming to turn its two DEEP C IZs in Quảng Yên Economic Zone, Quảng Ninh Province into a dynamic industrial development centre and an appealing investment destination for domestic and international investors.

The infrastructure facilities inside the IZ have been built synchronously to meet the requirements of investors.

When looking for an investment location in Việt Nam, large investors not only choose an industrial park but also a package solution so they can focus on developing their business and production.

Companies from Europe and the US often want to co-operate with IP management units with similar standards, including those in IP management, labour safety, and sustainable development. As an IP managed by a Belgian enterprise, the standards applied at DEEP C meet the requirements of demanding investors.

In early 2022, BW Industrial Development JSC acquired about 74,000sq.m in Bắc Tiền Phong IZ, developed by DEEP C in Quảng Ninh Province.

The ready-built factory in the IZ is part of Quảng Yên Coastal Economic Zone, an emerging economic area and a key investment destination in the north. The project is slated for completion in the second quarter of 2023.

Koen Soenens, General Sales and Marketing Director of DEEP C Industrial Zones, said: “The Bắc Tiền Phong Industrial Zone features an all-in-one model that integrates a dedicated petrochemical park and a seaport complex with general cargo terminals and liquids jetties. The goal is to develop an industrial zone that fits an array of industries while leveraging tenants’ logistical advantages on top of excellent connectivity.”

DEEP C aims to build an IZ suitable for various industries, improve investor logistics, and connect the existing infrastructure system.

Bruno Jaspaert, General Director of DEEP C Industrial Zones, confirmed a shift in FDI to high-tech industries.

“We have been witnessing a tech-driven trend as the FDI flows into DEEP C are shifting to electronics and automotives, giving rise to the growth of the electronics and automotive manufacturing cluster,” he said.

Jaspaert said DEEP C puts effort into projects using renewable energy, recycling, and protecting the environment, striving to grow into an eco IP. DEEP C’s sustainable development strategy focuses on renewable energy, water reuse and recycling, waste reduction, green building, and mangrove conservation.

DEEP C group has taken big steps to become an eco-industrial park. Among these are new ventures in renewable energy production.

More and more investors are interested in cooperating with IPs that value sustainability. By putting sustainable development as the focus, DEEP C aims to fulfil corporate social responsibility for DEEP C and all businesses operating in the IP.