The northeastern province of Quang Ninh has emerged as an ideal destination for investors who want to diversify production activities and expand their supply chains outside China.
“For investors operating in Guangdong (China), Quang Ninh is a destination worth considering in the plan to relocate production bases to Vietnam,” said Pritesh Samuel, an expert from Dezan Shira & Associates Company.
The city is a strategic investment location in northern Vietnam and part of the economic triangle in the North Hanoi – Hai Phong – Quang Ninh. It is home to the world-famous and UNESCO World Heritage Site Ha Long Bay.
For three consecutive years, Quang Ninh has consistently ranked at the top of the PCI. The province recorded US$6 billion in FDI since 2014 and is host to over 15,638 businesses. Foreign investors in the province include the US, Japan, Singapore, and Thailand. It has four economic zones and 10 industrial parks.
According to the expert, the city is considered a strategic investment destination in northern Vietnam and an important link of the northern economic growth triangle.
The province has great advantages with Van Don district planned to become a multi-sectoral marine economic zone, and an entertainment center with casino, high-class sea-island tourism, and general services, he explained.
In addition, this is also the gateway for international trade, creating unique, modern and high-quality products which can be internationally competitive, he went on.
Therefore, foreign investors expect Van Don district and Quang Ninh in general to be an important business center that is convenient for trade connectivity with China and ASEAN, he added.