Mong Cai International Border Gate of Quang Ninh province (Photo: VNA)Quang Ninh (VNA) – Moreinvestment has been poured into Mong Cai Border Gate Economic Zone (EZ) in thenorthern province of Quang Ninh, which holds an important geo-politicaleconomic position.
The EZ, established in 2012, consistsof the entire Mong Cai city along with nine communal-level localities of Hai Hadistrict. It has a total area of 121,197 hectares, including 66,197 hectares ofland and 55,000 hectares of sea.
Mong Cai is among nine border gate EZs nationwide prioritised for investmentduring 2016-2020 with a view to driving dynamic and sustainable economicdevelopment in the province and the northern key economic zone as a whole.
Quang Ninh also considers Mong Caione of the two economic hubs of the province.
During 2012-2018, the EZ received nearly 3.3 trillion VND (142 million USD,current exchange rate), with 689 billion USD from the central budget, more than2.34 trillion VND from the provincial budget and the remainder from localbudget, to complete urban and transport infrastructure, serving tourism andservice development.
Local transport infrastructure has been developed synchronously. Constructionof Van Don – Mong Cai Expressway kicked off on April 3 this year, and it willdirectly connect with the expressway traversing Hanoi, Hai Phong city and QuangNinh’s Ha Long and Van Don. The temporary road linking Mong Cai with Dongxingtown of China has also been completed.
Meanwhile, key construction works have been completed and put into operationlike a road linking National Road No.18 with Hai Ha port industrial park (thefirst phase), upgrade of Mong Cai International Border Gate, Bac Luan IIbridge, provincial road No.335, and Sa Vi border information popularisationcomplex.
The Mong Cai Border Gate EZ is housing 31 foreign direct investment (FDI)projects which registered more than 1.6 billion USD in capital, and 74 domesticprojects worth around 11.6 trillion VND. The most noticeable project is the300-million USD yarn plant of Texhong Ngan Long Technique Science Co., Ltd,which creates jobs for more than 4,200 workers and generated 415 million USD inrevenue last year.
The Mong Cai Border Gate EZ is also a concentration of labourers. Last year,there were nearly 76,000 labourers in the zone, compared to 2,300 in the BacPhong Sinh Border Gate EZ and 4,500 in the Hoanh Mo – Dong Van Border Gate EZ,also in Quang Ninh province.
Thriving business operations at theEZ have made significant contributions to local socio-economic development.Since 2012, State budget collection in Mong Cai city has exceeded 10.2 trillionVND, import-export revenue is estimated at nearly 38.5 billion USD.
With these results, the Mong Cai Border Gate EZ is not only the busiest inQuang Ninh but has also helped the province rank first in terms of economicactivities among the seven Vietnamese localities bordering China.
Aside from vibrant economic activities and good transport infrastructure, theEZ also boasts a lot of tourism potential. From 2010 to 2015, tourism revenueof Mong Cai city grew 3.7 percent annually to almost 2.88 trillion VND. Thecity also posted a surge in the number of tourist arrivals to 2.7 million lastyear.
The Mong Cai City People’s Committee said in June that the administration ofQuang Ninh province had given permission in principle to five big Vietnamesedevelopers to make investment plans in the city. Among them, Vingroup proposedthree projects, FLC group four and Sun Group one.
With strong moves by giant real estate developers, the land and house segmentsare also warming up. Many projects with completed infrastructure are recordingstrong sales like Kalong Riverside City or Green Park.
The local property market is benefiting from what is the busiest border gate EZin the north of Vietnam in terms of trade, services and tourism./.
VNA
