Quang Ninh prepares path for growth
Taking the lead in the provincial competitiveness index (PCI) for the last five years, obtaining high growth rates during the pandemic, Quang Ninh has fulfilled an “impossible mission”.
In March 2021, when the pandemic was raging, an investor decided to pour $865.6 million into two projects in Quang Ninh: Jinko Solar Vietnam photovoltaic cell project and a silicon wafer project.
Explaining its investment decision, CEO of Jinko Solar - Hoang Kim Tinh - said they weighed the investment plan for a long time as Quang Ninh was an unfamiliar location.
Jinko initially planned to implement a photovoltaic cell manufacturing project in Quang Ninh, not a silicon wafer project, where input materials are used to make the final product – solar panels.
After conducting a survey, Jinko found that Quang Ninh is an ideal destination for investors to develop their projects, including pre- and post-investment support, Tinh said.
In January 2022 Jinko organized a ceremony to introduce the first products of the silicon wafer project.
There are five economic zones (EZs), including two coastal ones, in Quang Ninh, where many investment and tax incentives are offered.
Tinh said the province has the best conditions in Vietnam to exchange trade with China through land and sea routes. These include the Mong Cai and Bac Phong Sinh border gates, and Cai Lan deep-water port.
The biggest difference in Quang Ninh is that the issues related to hiring foreign experts and machine imports always receive support from local authorities. The timely entry of foreign specialists ensures project progress.
“The biggest surprise for us is post-investment support. When we complain about difficulties, the local government always listens to us, organizes meetings, even on holidays, to help solve our problems with detailed instructions,” Tinh said.
Jinko Vietnam projects are among 150 projects invested in by investors from 20 countries and territories in Quang Ninh, with total capital of $8.26 billion.
Quang Ninh has been ranked first in the PCI for five years and is among the top 5 for nine years in terms of economic management. It is the only province recognized by VCCI for reaching a very-good level for economic management in 2021.
Quang Ninh’s GRDP growth rate in 2016-2021 was consistently at two digits. The GRDP was 10.66 percent, total capital for investment and development was VND42.310 trillion and the number of arrivals was 5.5 million travelers in H1/2022.
Completing runway for Quang Ninh’s take-off
Quang Ninh’s Party Secretary Nguyen Xuan Ky said attracting investors is an important task. Quang Ninh is the only locality in Vietnam that has both land and sea borders with China, and three border gates, which favors development of cross-border trade with China's huge market.
The province has 200 km of highways, accounting for 1/10 of Vietnam’s total highway length. It takes only 1.5 hours to travel from Hanoi to Ha Long and 3 hours to Mong Cai City.
Van Don was Vietnam’s first international airport developed by a private group.
Quang Ninh has the largest total area of industrial zones (IZs) and EZs in the country.
Its EZs and IZs are connected with each other by a modern highway system. Its coastal and border EZs are offered the highest investment incentives to investors.