Quang Ninh selectively attracts investment to industrial development

The northern province of Quang Ninh has affirmed the viewpoint of selective investment attraction in industrial development, including prioritising environmentally friendly projects.
Quang Ninh selectively attracts investment to industrial development ảnh 1Part of the Dong Mai Industrial Park in Quang Yen town of Quang Ninh province (Photo: VNA)
QuangNinh (VNA) – The northern province of Quang Ninh has affirmed the viewpoint of selectiveinvestment attraction in industrial development, including prioritisingenvironmentally friendly projects.

At a recent meeting, standingmembers of the provincial Party Committee demanded that special-use forests,mangrove forests and sea encroachment areas not be used for industrialdevelopment.

They affirmed Quang Ninh does notencourage the projects using low technology or the ones that are labourintensive or may cause insecurity or disorder.

The officials also underlined thatnew industrial projects must not cover more than 500 hectares while drasticmeasures must be taken to deal with sluggish or ineffective projects so as tofully capitalise on land potential to boost development.

Land reserves of existing industrialparks (IPs) need to be reviewed to zone land for building housing and publicfacilities for workers, they noted.

The province is currently home tofive economic zones (EZs) and 16 IPs covering a total area of over 378,180hectares.

Three of the five EZs have had theirgeneral construction planning approved, and one had its detailed planning at ascale of 1:2,000 given the green light. While six IPs have recorded secondaryprojects becoming operational, procedures are now underway to build theremaining IPs.

Officials said over the past years,Quang Ninh has reformed investment promotion and selectively attracted capitalto IPs and EZs, with priority given to major projects from reputable investors,and those having high added value, applying modern and environmentally friendlytechnology, and operating in the sectors that contribute to localsocio-economic development.

Local IPs and EZs are accommodating283 valid projects not invested by the State budget, including 90 foreigndirect investment (FDI) projects worth over 4.3 billion USD and 193 domesticones worth over 111.8 trillion VND (4.8 billion USD).

Althoughthe IPs and EZs have gradually established themselves as an impulse for socio-economicdevelopment, the effectiveness seen so far has yet to live up to theirpotential and advantages, officials noted, pointing out that the investmentattractiveness of IPs and EZs remains modest, and existing projects there stillhave modest technology content.

Standingmembers of the provincial Party Committee requested the Party Civil AffairsBoard of the provincial People’s Committee, departments, sectors, andlocalities in Quang Ninh to objectively review EZs and IPs’ contributions to localsocio-economic development and issue standards for investment attraction tothose areas.

In 2021, the province clinched its top position in the ProvincialCompetitiveness Index (PCI) for the fifth consecutive year, and entered the topfive provinces and cities with the highest economic governance quality for nineyears in a row.

Quang Ninh postedan estimated growth rate of 10.66% in the gross regional domestic product (GRDP)in the first six months of this year, which is 2.64 percentage points higherthan the rate in the same period of 2021. It is aiming for a GRDP increase of at least 11% and budget revenues of no less than 52.6 trillion VND in 2022.

The province is viewed as a strategic destination in northernVietnam and an important link in the northern economic growth triangle of Hanoi- Hai Phong - Quang Ninh. It has set a goal to have modern industry and service sectorsand become one of the region’s comprehensive and dynamic development hubs by2025.

It aims to raise its GRDP by 10% on an annual average during the period, and per capita GRDP toover 10,000 USD by 2025. The urbanisation rate is expected to surpass 75%,while the rate of poor households to go down to below 1%./.
VNA

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