Quang Ninh licenses 315 million USD seaport complex project

Rrecently, the northern province of Quang Ninh presented an investment licence to a project on developing a seaport complex and industrial park in the Dam Nha Mac area, Quang Yen town with total inves

The investors in the project are the CDC Corporation, headquartered in the Cayman Islands, the Middle Utilities Company Pte Ltd of Singapore, and Infra Asia Investment Limited of Hong Kong. The project will be deployed in three phases with the first scheduled to last from 2017-2021, the second from 2022-2031 and the third from 2032-2036. Once operational, it is expected to create 110,000 direct jobs and indirect ones.

Chairman of the provincial People’s Committee Nguyen Duc Long said the project shows the province’s solutions to create breakthroughs in infrastructure, especially in transport, to help explore Quang Yen’s potential and give the locality a facelift. The investment licence is also considered as the province’s desire to streamline administrative procedures and improve the investment climate. The province has carried out measures to support enterprises and help startups and enterprises reform technology and adopted policies to stimulate investment in infrastructure of industrial clusters.

Quang Ninh province’s authorities have established consulting teams to handle difficulties for enterprises, and made efforts to improve investment promotion activities, with several investment promotion events held in Malaysia, Singapore, and Taiwan.

Foreign investors have poured 567.3 million USD in registered capital into 20 projects in Quang Ninh so far in 2016. The figure represented a surge of 30.4 percent from the same period last year.

In terms of domestic investment, in 2016, 21 new projects and seven capital adjustment projects were licensed with combined capital of 17.8 trillion VND (798 million USD) in the province. In total, Quang Ninh has attracted over 30 trillion VND (1.35 billion USD) in investment capital in 2016.