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Quảng Ninh shows strong investment growth this year

Update: December, 27/2017 - 20:00
View of Bái Tử Long Bay in Quảng Ninh Province. This province has called large investment to infrastructure, tourism and services in 2017. - Photo
Viet Nam News

QUẢNG NINH — The northern province of Quảng Ninh in 2017 saw a year-on-year increase of 10.1 per cent in total investment to VNĐ60.6 trillion, according to the Quảng Ninh provincial Department of Planning and Investment.

This was the result of improving investment and business environment, bringing confidence to enterprises and investors.

According to the department’s report, the total investment of VNĐ60.6 trillion in 2017 included VNĐ22.9 trillion from the State, accounting for 37.8 per cent; VNĐ25.7 trillion from the private sector, accounting for 42.3 per cent; and VNĐ12 trillion from foreign direct investment, accounting for 19.9 per cent.

Hoàng Trung Kiên, deputy director of Quảng Ninh Economic Zone, said investors were expected to start the development of tourism and service complexes with a total investment of VNĐ61 trillion in Vân Đồn Island in 2018, contributing to the establishment of one of the first three special economic and administrative regions in Việt Nam.

Quảng Ninh has plans to complete a highway connecting Hạ Long City with the Hải Phòng–Hà Nội Highway, the Hạ LongVân Đồn Highway, Cẩm Hải Vân Đồn Highway, FLC Group’s golf and resort complex, and infrastructure in Texhong Hải Hà Industrial Zone in the second quarter of 2018.

Meanwhile, Cát Vân Hải Joint Stock Company has scheduled to start the construction of its five-star Furama Hạ Long Việt Nam Resort and Villas on the Quan Lạn Island in the beginning of 2018, with a total investment of VNĐ1.2 trillion, Hoàng Đức Hưng, general director of Cát Vân Hải Joint Stock Company, said.

Next year, some other projects will also begin constructions, including the 90-km Vân ĐồnMóng Cái Highway, with an investment capital of about VNĐ16 trillion.

Vũ Văn Diện, vice chairman of Quảng Ninh People’s Committee, said Quảng Ninh Province focussed on developing strategic plans in three key fields of infrastructure, technology and human resources in 2017, especially transport infrastructure projects, to attract many domestic and foreign companies developing big projects, such as Vingroup, Sungroup and FLC Group.

The investors have put in a large investment amount to upgrade the transport system, promoting the development of Quảng Ninh. These include the Quảng Ninh airport project, with a total investment capital of nearly VNĐ7.5 trillion, which will support the development of the Vân Đồn special administrative and economic zone. The Quảng Ninh airport has been invested by Sungroup, a strategic investor in Quảng Ninh province.

Other projects are Hạ Long–Hải Phòng Highway and Hạ LongVân Đồn Highway. Those highways will create traffic links in the economic triangle of Hà Nội–Hải Phòng–Quảng Ninh and the Hà Nội–Hải Phòng–Hạ LongVân Đồn Highway to attract more investment and contribute to the socio-economic development of Quảng Ninh Province and the northern key economic region.

In 2017, Quảng Ninh also approved investment in a series of projects to build large and luxury resort and entertainment complexes with local large investors, such as CEO Group, FLC Group, Mbland Corporation and Viglacera Corporation. — VNS

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