Foreign investment attracted by the northern province of Quang Ninh in the first half of 2023 is nearly equivalent to its target set for the whole year.

A corner of Quang Ninh (Photo: baodautu.vn)

In the period, the locality drew over 832 million USD in foreign direct investment (FDI), equal to 83% of that set in the provincial Party Committee’s Resolution and 69.3% in the provincial People’s Committee plan.

This result was partly contributed by two Foxconn projects totalling 246 million USD approved by the province on the last day of June.

Together with four other FDI projects, they brought the total foreign capital Quang Ninh attracted to the period in the automobile supporting industry to 585 million USD, or 70.3%.

It can be said that FDI in Quang Ninh in the first six months was mainly poured into the processing and manufacturing industry, which is in line with the orientation set out in a resolution on rapid and sustainable development of the processing and manufacturing industry in the 2020-2025 period.

To further develop the processing and manufacturing industry in the direction of increasing its contribution to the local economic growth, Quang Ninh is focusing on attracting domestic and foreign investors that apply modern and clean technology, and create products with high added value.

Over the past 2.5 years since the resolution was promulgated, the total investment capital in the province’s processing and manufacturing industry has reached over 41.3 trillion VND (1.74 billion USD), of which foreign investment is over 1.3 billion USD. The average growth rate of this sector is 23.6% per year, contributing over 10% in the province's GRDP./.

VNA