Vietnam: Quang Ninh’s special zone calls for investment in five projects

The Hanoitimes – Vietnam`s north-eastern province of Quang Ninh is calling for an investment of 15 trillion VND (660.8 million USD) in five projects in the Van Don special administrative-economic zone.

The projects, in the Van Don special administrative-economic zone, include the Phuong Hoang Island resort with an estimated capital of 5.5 trillion VND on an area of 691ha, Nat Dat Island tourism complex with an investment of 3.15 trillion VND, Cai Bau Island Resort, Hotel and Golf Course complex with 3.5 trillion VND, Hon Soi Nhu Island Resort complex with 637 billion VND and Hon Chin tourism complex with 2.5 trillion VND.

According to the provincial Department of Tourism and Economic Zone management board, many foreign investors have plans to invest into big projects in the province.

In its development plan, Quang Ninh has called for investments into 14 big-scale property and resort projects in the 2016-20 period, as well as others to develop four key tourism centres, including Ha Long, Mong Cai – Tra Co, Van Don- Co To and Uong Bi – Dong Trieu – Quang Yen.

The province has given priority to two projects, which could help promote tourism, including Van Don International Airport and a resort complex with a casino.

The Economic Zone management board said many large projects with an investment of several billions of dollars from the United States, China and Thailand have been implemented in the province. Quang Ninh submitted a proposal to the government to offer preferences in terms of the business environment at the Van Don special administrative-economic zone.

Accordingly, the zone would have mechanisms to reduce the number of business lines with conditions and to remove the limits in investment conditions for foreign investors in sectors that the province prioritises for development.

The municipal Department of Planning and Investment said that by the end of this year, the province will have 2,240 newly-established firms, with a total registered capital of 12.9 trillion VND, posting 32 percent and 9.3 percent increases in terms of capital, respectively.

In addition, some 500 businesses resumed their operations this year, increasing 44 per cent from the previous year. The total number of operating companies in the province was 14,900, with a total registered capital of 148 trillion VND.

The department said it has taken drastic measures to untie businesses’ difficulties to expand their production and trading. Earlier, Prime Minister Nguyen Xuan Phuc had given the northern province of Quang Ninh the go-ahead to develop the Van Don Economic Zone as a special administrative-economic unit.

Van Don district comprises over 600 islands and is located around 175km from Hanoi, 80km from Hai Phòng city and 50km from Ha Long city. The district encompasses the World Heritage site, Ha Long Bay. It covers a total area of 2,171sq.m, of which natural land is 551sq.m.

The district is sparsely populated and its total population is 41,645 people. With the variety and uniqueness of the archipelago, rich ecosystems and beautiful beaches, the islands have the potential to become a world-class maritime tourism destination.

Source: http://hanoitimes.com.vn/investment/2017/12/81E0BE85/quang-ninh-s-special-zone-calls-for-investment-in-five-projects/