Quảng Ninh aims to attract $3 billion worth of FDI this year

VIETNAM, June 16 - HÀ NỘI — Quảng Ninh Province has attracted more than US$1.52 billion worth of foreign direct investment (FDI) in the first half of this year and is poised to reach its goal of $3 billion in FDI for the full year.

According to the province’s Investment Promotion and Support Board, FDI was put mainly into high-tech fields and environmentally friendly industries with high added value, enabling the northern coastal province to participate in the global value chain.

FDI in the manufacturing and processing industries is particularly helpful for the province’s development goals, which helped establish production chains in the electronics and garment industries.

The northern province registered a gross regional domestic product (GRDP) of 9.02 per cent, ranking fourth in the Hồng (Red) River Delta region and eighth out of 63 provinces and cities in the country.

The manufacturing and processing industry was the standout of the province in the first half of this year with a growth rate of 23.05 per cent, 10.3 percentage points higher than the same period last year.

The province collected an estimated sum of VNĐ30.774 trillion (US$1.2 billion) for the State budget in the first six months of this year, or 55 per cent of its target.

Over the same period, 795 new firms were founded in the province, creating about 17,400 jobs. This figure is up 12.6 per cent year-on-year.

Quảng Ninh attracted more than $3.11 billion of FDI in 2023, becoming the top destination for foreign investment in Việt Nam.

The province has significant potential for attracting FDI with the largest number of industrial and economic zones planned for development in the northern region. — VNS