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Tuesday, December 6, 2022

Foreign investors pledge over US$1.5b in Quang Ninh

By Van Ly

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HANOI – Foreign investors have signed agreements to inject over US$1.5 billion into the northern province of Quang Ninh, it was announced at an investment promotion conference held in the province on July 26.

At the conference, Stavian Quang Yen Petrochemical JSC clinched a deal to invest US$1.5 billion in developing the Polypropylene resin manufacturing project in the Bac Tien Phong industrial zone.

Besides, more than seven hectares in the industrial zone will be reserved for the development of factories and warehouses, with a total investment of US$23.9 million, as part of a deal struck by Vietnam Investment Q Limited Company, under the Indochina Kajima Development Company, a joint venture of Indochina Capital and Japan’s Kajima Group.

In addition, Quang Ninh also granted investment registration certificates to three other projects with total pledged capital exceeding US$68.7 million at the event.

Of them, BW Bac Tien Phong Industrial Development Company will develop a factory and warehouse project valued at US$20.5 million.

Jinko Solar Vietnam Industries Company will be in charge of developing the Jinko 3 warehouse project in the Song Khoai Industrial Park and the social housing project in the province’s Quang Yen Town to serve industrial park workers, with an investment of US$35.56 million and nearly US$12.65 million, respectively.

Quang Ninh is home to two coastal economic zones, three border gate economic zones, and 16 industrial parks, connected by expressways. The province invested in the infrastructure covering nearly 550 hectares of industrial parks available for lease.

In the first half of 2022, Quang Ninh granted and adjusted investment certificates to nine foreign-invested projects with total registered capital of US$149.6 million. Accordingly, as of June, foreign investors had poured capital into 150 projects in the province with a total registered investment of nearly US$8.26 billion.

The conference was held during the third meeting of the APEC Business Advisory Council (ABAC) in Ha Long City, and became the first investment promotion event in 2022 of Quang Ninh.

The event gathered 21 ABAC members from 21 countries and regions in the Asian-Pacific region, who are giant corporations and operating fields for which Quang Ninh is seeking investment.

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