Quang Ninh an investment haven, official tells South Korean firms

Quang Ninh has a modern transportation system, an open investment environment and guaranteed social security, a senior provincial official told a visiting South Korean business delegation last weekend.

Bui Van Khang, Vice Chairman of the Quang Ninh People's Committee, also highlighted the northern province’s favorable geographical location and attractive investment policies.

He was speaking to a delegation of South Korean businesses led by Hong Sun, chairman of the Korean Chamber of Business in Vietnam (Kocham), which made a two-day (Friday and Saturday) exploration visit to the province.

The delegation aimed to study the investment environment, policies and projects in the province.

"Quang Ninh always listens seriously to businesses concerns, is committed to being a reliable partner and creating the best conditions possible for investors to do long-term business in the province," Khang said.

The delegation made fact-finding tours of the Song Khoai, Dong Mai and Bac Tien Phong industrial parks in Quang Yen township.

At the Dong Mai Industrial Park, it was invited to see the production lines of Bumjin Electronics Vina Co., Ltd., a $30 million South Korean investment.

The 167.86-hectare Dong Mai IP boasts an occupancy rate of over 97%. It is home to 24 projects, including 23 FDI ones worth a total $563.78 million and a domestic investment project worth VND200 billion ($8.23 million). These have created jobs for over 9,000 people.

The Song Khoai Industrial Park has been built by Thailand-based Amata Group on an area of 714 hectares with a total investment of over VND3.5 trillion ($144 million); and the 1,193-hectare Bac Tien Phong Industrial Park has been jointly developed by DEEP C - a Belgian industrial park developer and Vietnam's Hateco Group.

In the first six months of this year, Quang Ninh attracted $832.2 million in registered FDI capital, fulfilling 70% of its year target of $1.2 billion. It also lured VND44.02 trillion ($1.86 billion) in domestic investment.

The province landed 13 South Korean-invested projects with a total registered capital of $97.8 million during the period - five within and eight outside industrial parks and clusters.