Quang Ninh province has recently become Vietnam's largest recipient of foreign direct investment, surpassing the capital Hanoi, Ho Chi Minh City and other economic hotspots thanks to the diversification of global supply chains and a newly formed port in the neighboring area.
Ha Long Bay - World Natural Heritage, has been making Quang Ninh become an unmissable tourist destination on the tourist map of Vietnam and the world. Famous for its majestic limestone islands, mysterious caves and clear blue water, Ha Long Bay has attracted millions of tourists every year. However, the potential of Quang Ninh does not stop at tourism. This place is strongly rising to become the most attractive investment destination in Vietnam with outstanding advantages.
According to the General Statistics Office of Vietnam, Quang Ninh last year topped the country’s five largest cities and provinces, receiving $3.1 billion in FDI. Thai Binh province was the second hottest destination, attracting $2.68 billion, followed by Bac Giang province with $1.53 billion.
This achievement marks a great step forward for Quang Ninh on the Vietnam investment map, affirming its position as an attractive destination for domestic and foreign investors.
Last year, Quang Ninh ranked first among the provinces and the five largest cities in the country, receiving 3.1 billion USD in FDI capital.
Compared to other leading localities in attracting FDI, Quang Ninh possesses outstanding competitive advantages. It can be said that its strategic location at the northern gateway of Vietnam, bordering China, Quang Ninh possesses a favorable geographical position for trade and economic development. Van Don Port - the largest deep-water port in Vietnam - promises to turn Quang Ninh into an important international logistics and connectivity center.
Sharing land and sea borders with China, the province has come under increasing scrutiny as the US-China trade war has intensified. Due to its proximity to China and 250km of coastline, Quang Ninh is considered one of the best locations for companies to move production out of China. These factors keep existing Chinese supply chains running and make it easier to transport products.
Quang Ninh province is expected to receive an additional 1 billion USD in the first quarter of 2024 and is likely to exceed 3 billion USD for the second consecutive year.
