An aerial view of Ha Long town in Quang Ninh province, northern Vietnam. Photo courtesy of the provincial administration.

In late June, Quang Ninh continues to report positive investment inflows. Provincial authorities have granted in-principle approvals for several projects across industrial production, logistics and marine development sectors.

Among them is a wood pellet and forestry processing plant in Vang Danh commune, developed by B&B Quang Ninh Green Energy JSC, with total investment capital of more than VND324 billion ($12.4 million).

The facility is designed to produce 120,000 tons of wood pellets annually, utilizing plantation timber and forestry by-products for both domestic consumption and export markets.

The project aligns with Quang Ninh’s strategy to promote green industrial development, increase value-added output in the forestry sector, and advance circular economy initiatives.

In Lien Hoa commune, authorities approved the construction of a liquid cargo terminal within the Bach Dang Industrial Park. The project, with investment capital of nearly VND190 billion ($7.22 million), includes a 255-meter berth capable of accommodating vessels of up to 50,000 deadweight tons (DWT) under reduced-load conditions and is expected to handle approximately 1.5 million tons of cargo annually.

The terminal is expected to strengthen logistics and port infrastructure, supporting petrochemical, chemical and manufacturing industries in the Quang Yen area, one of the province’s emerging industrial growth hubs.

In the marine economy sector, Quang Ninh approved a concentrated aquaculture project in the Co To Special Zone. The project will cover nearly 210 hectares of marine surface area and involve investment of almost VND67 billion ($2.54 million).

The development will deploy modern offshore aquaculture technologies for high-value species including squid, marine fish, clams, sea cucumbers and seaweed. It also aims to establish supply-chain linkages with local communities and support marine tourism activities.

Provincial authorities view the project as consistent with Quang Ninh’s strategy of developing a sustainable blue economy and maximizing the economic potential of its coastal and island resources.

Focus shifts toward higher-quality investment

The projects approved in June highlight not only sectoral diversification but also Quang Ninh’s increasingly selective approach to investment attraction, prioritizing quality, efficiency and sustainability.

Rather than focusing solely on the size of registered capital, the province has shifted its attention toward land-use efficiency, technological sophistication, value-added production and integration into global supply chains. The approach has become a central pillar of Quang Ninh’s foreign direct investment (FDI) strategy in recent years.

High-quality FDI flows are increasingly choosing Quang Ninh as a destination. Photo courtesy of Amata Ha Long.

According to provincial data, Quang Ninh attracted more than $10.5 billion in registered FDI capital between 2021 and 2025, nearly five times the amount recorded during the 2016-2020 period. Most investment was directed toward industrial parks, economic zones and high-tech manufacturing and processing industries.

Notably, average investment intensity per hectare increased from roughly $1 million during 2016-2020 to more than $13 million in 2021-2025, while the average land area used per project declined significantly.

The figures suggest the province has successfully transitioned from a strategy of attracting larger volumes of capital to one focused on attracting higher-quality investment, favoring projects that generate greater value-added output, conserve resources, and reduce environmental impact.

The latest approvals reinforce Quang Ninh’s efforts to expand development across three strategic pillars - processing, logistics and the marine economy. Provincial planners see these sectors as critical to enhancing long-term economic competitiveness.

Supported by continued investment momentum and a growing pipeline of strategic projects, Quang Ninh is seeking to attract more than $3 billion in registered FDI capital in 2026, while further consolidating its position as one of northern Vietnam’s most dynamic investment destinations.