At Samsung Electronics Vietnam Co., Ltd in Thái Nguyên Province. VNA/VNS Photo

Phnom Penh — The SBM NEWS website of Cambodia has published an article praising Việt Nam's ability to attract foreign investment, especially in the northeastern province of Quảng Ninh.

In its article published on April 29, it asserted that with its emerald waters and dozens of islands, the UNESCO World Heritage Site Hạ Long Bay in the province is one of the country's most famous tourist destination, attracting visitors from around the world. In 2023, the site welcomed approximately 2.6 million foreign tourists, accounting for 21 per cent of the total to Việt Nam.

Quảng Ninh has surpassed Hanoi, Ho Chi Minh City, and other potential economic zones, emerging as the largest foreign direct investment (FDI) attraction area of Vietnam thanks to the diversification of its global supply chain and the establishment of a new port in a vicinity, it said.

According to data from the General Statistics Office of Việt Nam, last year, Quảng Ninh was among the top five localities in attracting the largest foreign direct investment (FDI) with US$3.1 billion, followed by the northern provinces of Thai Binh and Bac Giang with $2.68 billion and $1.53 billion, respectively.

The Cambodian website said Quảng Ninh is expected to receive an additional $1 billion in investment in the first quarter of 2024, and this figure is likely to exceed $3 billion for the second consecutive year.

It noted that the solar panel, electronics, and petroleum industries are also expanding in the province, with the Jinko Solar PV Việt Nam solar panel project being the largest and most iconic in this sector, with a registered capital of over VNĐ34.6 trillion (over $1.36 billion) from Chinese companies.

The northern port city of Hải Phòng is also mentioned in the article as one of the leading localities in attracting foreign investment in Việt Nam. It ranked fourth in 2023, luring $1.48 billion. VNS