Quang Ninh is progressive and active in attracting foreign direct investment from around the world, South Korea, Japan, Taiwan, Thailand, China and Singapore.
The province stands out for maintaining the highest point in the provincial competitiveness index since 2017. The region leads in terms of market access management and control of administrative procedures, thanks to beyond and provides leaders who strongly defend that the state be the maximum business-friendly location.
The province has invited advertising park developers to build competitive advertising sites. In addition, the state has invested in ports, roads and an airport with public and financial funds.
This was a far cry from Hanoi’s dominance a decade ago, when roads and bridges were still being planned. However, the administration updated the infrastructure to make it fashionable and smooth, shortening the time to get there.
Last November, the province and JETRO coordinated an investment promotion seminar and business excursions with more than 30 commissioners of Japanese industrial attempts. Secretary of the Provincial Party Committee Nguyen Xuan Ky and other leaders have made it clear that they will try to do everything possible to warm up investors.
Due to their strategic location, logistics services, production, green energy, LNG, aquaculture and agriculture are all important sectors for the Japanese. In the production sectors (automotive and spare parts, electrical and electronics, machinery, semiconductors and commercial fabrics), the Japanese have the prospect of increasing production in Vietnam.
In some spaces such as Ha Long and Uong Bi, tourism and hospitality companies have possibilities for exploration.
In the past, Japan’s investments have accumulated in Hanoi and its northern environs, namely Hung Yen, Ha Nam, Bac Ninh, Bac Giang, Hai Duong and Haiphong. Half of the Japanese brands in Vietnam are export-oriented and the other part are locally oriented. .
It took time to distribute the products when the road and port infrastructure was still bulky ten years ago. The spaces between Hanoi and Haiphong were convenient to succeed both in the local market and in the ports.
But now, the scenario has changed. Around the big city, the burden of human resources and land acquisition has increased and traffic jams have worsened. On the other hand, the infrastructure in the northeast has advanced significantly and the domain of Quang Ninh has a viable option for the Japanese.
In another update to the situation, most major Japanese brands already have factories in Vietnam and are looking for second, third and fourth production sites. In particular, the pandemic supply chain crisis has required diversification of production and distribution networks.
The shortage of human resources in the major cities of Hanoi and Haiphong has also had an effect on ongoing Japanese operations. Quang Ninh has several notable universities and vocational schools, which provide an active workforce for enterprises.
Halong University, Quang Ninh University of Industry and Quang Ninh University of Foreign Trade Campus are establishments for the education of young entrepreneurial talents. In addition, there are dozens of vocational schools in the province.
I need the control of Quang Ninh to recognize and expand Japanese companies.
Today, the global economy and the energy crisis are creating uncertainty when making decisions. However, investments through Japanese teams operating in Vietnam and those still in Japan will resume when they are ready.
On September 1, the People’s Committee of Quang Ninh Province began painting the structure of a commercial plant complex valued at more than VND 2. 7 billion (US$115 million) in Quang Yen City and also awarded an investment registration certificate to two projects in the complex.
The Van Don-Mong Cai Expressway, which is expected to open a new progression area for the northern province of Quang Ninh and the entire Red River Delta, opened on September 1.
Its tourist attractions, culinary culture and pleasant nightlife climate are wonderful assets that will allow Quang Ninh province to expand its nightlife economy, according to its People’s Committee.
The Quang Ninh People’s Committee will put into effect seven commitments to attract investors and help the business network expand its operations.
The northeastern province of Quang Ninh has worked to attract next-generation foreign direct investment flows to implement its greener economic progression strategy, helping it become one of Vietnam’s major production and processing hubs.
What the stars mean:
★ Mediocre ★ ★ Promising Good ★★★ ★★★★ Very Good ★★★★★ Exceptional
Vietnam Investment Review Ministry of Planning and Investment
Editor-in-chief: Le Trong Minh
Deputy Editors: Bui Duc Hai, Nguyen Van Hong and Nguyen Quoc Viet
Editorial Board Member: Dang Tuan Khanh
Editor-in-chief: Nguyen Chi Mai
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