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Quang Ninh – a magnet to real estate firms

With great strengths in many fields, the northern coastal province of Quang Ninh has become an attractive investment desitnation for domestic and international real estate firms.
Quang Ninh – a magnet to real estate firms ảnh 1Graphical image of Halong Marina urban area (Source: Internet)
Quang Ninh (VNA) – With great strengths in many fields, the northern coastalprovince of Quang Ninh has become an attractive investment desitnation fordomestic and international real estate firms.

Over thelast two years, Quang Ninh attracted about 100 real estate projects with totalinvestment of 100 trillion VND (4.4 billion USD).

In 2015,local authorities granted investment licenses and approved additional capitalfor 97 private investment projects worth 53 trillion VND (2.33 billion USD).

During the year, it welcomed major projectsworth trillions of dong from both domestic and foreign businesses such as theVincom Centre Ha Long and Vinpearl Ha Long invested by Vingroup, Ha Long OceanPark invested by Sun Group, and Ha Long Star Tourism Urban and EntertainmentComplex Casino invested by real estate developer Nakheel from the United ArabEmirates.

According to the provincial Investment Promotion Agency (IPA), Quang Ninh hasso far lured about 5.97 billion USD in foreign direct investment (FDI). The FDIdisbursement in the last nine months reached over 155 million USD.

Local authorities granted investment licenses to ten new FDI projects  worth 520.8 million USD in the first tenmonths of this year, and accepted additional capital for seven others, liftingtotal FDI in the period to 523.6 million USD

Meanwhile, 24 new domestic projects with total investment of 15.9 trillion VND(nearly 700 million USD) were licensed in the period, including big projectslike the FLC Ha Long resort worth 3.4 trillion VND (149.6 million USD) and acow breeding project worth over 2.2 trillion VND (96.8 million USD).

IPA ViceDirector Truong Manh Hung attributed the increasing investment inflows toconsultation provided by international organisations to build the province’splanning and key transport projects.

Quang Ninhboasts great potential for industry, tourism and service-based economicdevelopment, with 2000 islands stretching along 250km of coast, he added. ItsHa Long Bay was twice recognised as a world natural heritage by UNESCO.

Local authorities have paid heed to building investment support and incentivepolicies, promoting administrative reform and investment promotion activities,and increasing application of technology, Hung said.

Quang Ninhis also an attractive tourist site as it draws millions of domestic and foreigntourists each year, especially those from Southeast Asian nations.

However, thelocality’s tourism infrastructure facilities have yet to meet demand of luxuryholiday-makers. Therefore investors have poured investment into building luxuryaccommodation in the province.

Localauthorities aim to accelerate the construction of infrastructure projects suchas Ha Long - Hai Phong and Ha Long – Van Don, Van Don – Mong Cai expressways,Quang Ninh Airport, and Hai Ha Industrial Park, among others. 

A series of projects have been implemented under the private-publicpartnership model since late 2014. 

Quang Ninh has also applied the model to social andworking infrastructure, medical and educational establishments and informationtechnology. Local authorities have also asked for approval from the Governmentto build Quang Ninh Airport and Van Don-Tien Yen-Mong Cai expressway under themodel.-VNA 
VNA
#Ha Long #Quang Ninh #attractive investment desitnation #real estate firms #FDI Quang Ninh

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