The northern coastal province of Quang Ninh is offering various incentives and preferential mechanisms to encourage investors to invest in economic zones (EZs), industrial parks (IPs) and border economic zones (BEZs) in the province.

A corner of Van Don Economic Zone, Quang Ninh province (Photo: VNA)

At a press briefing on May 14, Vice Chairman of the provincial EZ management board Hoang Trung Kien said besides general policies, the province has issued its own investment support measures such as preferential rules on land lease and land allocation for building resettlements for those investors. 

In particular, the province shares 30 percent of the land clearance costs immediately after an investor submits an investment plan. As a result, land clearance work at local IPs is going on smoothly. Some examples are the Viet Hung IP with 124 out of the total 151 ha of land already cleared, the Hai Yen IP with 85 out of 182 ha of land and the Texhong IP with 300 out of 660 ha of land cleared. 

For secondary investors in IPs, the province promises support in workers’ training, trade promotion, technology transfer and cost in publishing announcements on firms’ establishment and product advertisements on the province’s portal and the IP management board’s website.

At present Quang Ninh has 11 IPs, 1 coastal EZ (Van Don) and three planned BEZs, which are located in 11 districts, towns and cities. They cover a total area of more than 368,000 ha, or 30.2 percent of the province’s area. 

In the first five months of this year, nearly 3 trillion VND (128.2 million USD) was poured into EZs and IPs in Quang Ninh, including 27.87 million USD of foreign investment. 

Meanwhile, the three BEZs - Mong Cai, Bac Phong Sinh and Hoanh Mo-Dong Van – have attracted 95 investment projects, including 17 foreign invested ones capitalized at nearly 298 million USD. The remaining are run by domestic investors with total investment of nearly 10.2 trillion VND (430 million USD).