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Quang Ninh province has recently become Vietnam's largest recipient of foreign direct investment, surpassing even Hanoi, Ho Chi Minh City, and other economic hotspots, thanks to the diversification of its global supply chains and a newly developed port in the vicinity.
Ha Long Bay, a World Natural Heritage site, has made Quang Ninh an unmissable tourist destination on the tourism map of Vietnam and the world. Famous for its majestic limestone islands, mysterious caves, and turquoise waters, Ha Long Bay attracts millions of tourists every year. However, Quang Ninh's potential extends beyond tourism. It is rapidly emerging as one of Vietnam's most attractive investment destinations, boasting outstanding advantages.
According to data from the General Statistics Office of Vietnam, Quang Ninh province topped the list of provinces and the five largest cities in the country last year, 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 significant leap forward for Quang Ninh on Vietnam's investment map, affirming its position as an attractive destination for domestic and foreign investors.
Last year, Quang Ninh ranked first among provinces and the five largest cities nationwide, receiving $3.1 billion in FDI.
Compared to other leading localities in attracting FDI, Quang Ninh possesses outstanding competitive advantages. Its strategic location at the northern gateway of Vietnam, bordering China, gives Quang Ninh a favorable geographical position for trade and economic development. Van Don Port – Vietnam's largest deep-water port – promises to transform Quang Ninh into an important logistics and international connectivity hub.
Sharing both land and sea borders with China, the province has begun to attract attention as the US-China trade war intensifies. Due to its proximity to China and its 250 km coastline, Quang Ninh is considered one of the best locations for companies to relocate production out of China. These factors help keep existing Chinese supply chains running and facilitate product transportation.
Quang Ninh province is expected to receive an additional $1 billion in the first quarter of 2024 and has the potential to surpass $3 billion for the second consecutive year.
