Workshop promotes investment, foreign trade in Quang Ninh

The workshop brought together representatives from the embassies of 27 countries such as Algeria, Bulgaria, Hungary, Laos, Cambodia, Canada, Chile, Mexico, Italy, Egypt, Russia, and Sri Lanka, and from the Korea Trade-Investment Promotion Agency (KOTRA) Hanoi and close to 100 local exporters.

Speaking at the event, Deputy Minister of Industry and Trade Dang Hoang An emphasised that the workshop is part of a series of events the ministry is co-hosting with cities and provinces to boost exports and attract foreign investment in industry and trade.

It provides an opportunity for the foreign diplomatic corps, trade representatives, and trade promotion organisations in Vietnam to explore the local market, establish contact with authorities in Quang Ninh and local enterprises, and beef up trade and investment, he said.

The deputy minister reiterated that Vietnam has been enduring the economic fallout from COVID-19 since early in the year and now the devastating impact of historic recent flooding in the central region.

Despite such challenges, the Government remains committed to fulfilling this year’s twin goals of stemming the pandemic and fuelling economic recovery, he noted. Vietnam has maintained moderate growth, with foreign trade exceeding US$439.8 billion in the first ten months of this year, up 2.6% against the same period last year. The country also posted a ten-month trade surplus of US$18.72 billion.

Vice Chairman of the Quang Ninh People’s Committee Bui Van Khang briefed attendees on local potential, saying the province boasts three international border gates, four international seaports, one international airport, five economic zones, and 11 industrial parks. It is also looking to transform the Van Don and Quang Yen coastal economic zones into a world-class tourist site and a hub for logistics and port services respectively, he said.

These are key to Quang Ninh’s plans to boost economic growth and international integration.

Over the last five years, the province has posted a number of outstanding achievements. Annual economic growth has averaged some 10.7%, he noted, higher than the national average. Its economic size reached nearly VND209.25 trillion (US$9.03 billion) in 2020, a 1.8-fold increase against 2015. Average per capita gross regional domestic product (GRDP) was US$6,500 - double the national figure. Average workplace productivity rose 11.6% annually, hitting VND275.9 million this year, or 1.73 times higher than in 2015.

Quang Ninh topped the Provincial Competitiveness Index (PCI) and the Public Administration Reform (PAR) Index rankings for three consecutive years, in 2017, 2018, and 2019, and has also been among the best performers in the Satisfaction Index of Public Administration Services (SIPAS) for many years, and was top in 2019.

It has also made great strides forward in improving its position in the Provincial Governance and Public Administration Performance Index (PAPI), moving from 62nd place in 2016 to third last year.

The province aims to develop green, clean, and hi-tech industries and smart and environmentally-friendly technologies, and boost the contribution of processing, manufacturing, and smart, high technologies. Developing the Van Don and Mong Cai Border Gate Economic Zones will be key to fostering local economic growth.

It will also facilitate the development of a chain of eco-urban complexes for high-end trade, tourism and services, hi-tech agriculture, and the sea-based economy.

Khang added that Quang Ninh is committed to further improving its business climate and providing all possible conditions for investment and business, while increasing activities to be better connected with the world.

The MoIT’s Vietnam Trade Promotion Agency (Vietrade) took the occasion to sign an agreement with the provincial Department of Industry and Trade and the Quang Ninh Business Association to jointly promote trade in the province.