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INVESTMENTINDUSTRIAL ZONE

Development prospects of border economic zones in Quang Ninh

Updated at Sunday, 24 Jan 2016, 11:55
The Hanoitimes - Last year Quang Ninh publicized master-plans for Hoanh Mo-Dong Van and Mong Cai border economic zones with visions until 2030. The planning is an important foundation for developing Quang Ninh’s border areas.

Located in Binh Lieu district bordering the port city of Fangcheng in China’s Guangxi province, the Hoanh Mo-Dong Van border economic zone is slated to become an interdisciplinary economic zone that contributes to trade, economic restructuring, and improving local people’s lives.

Cao Tuong Huy, secretary of Binh Lieu’s Party Committee, said the popularity of Hoanh Mo border crossing will rise when the government officially recognizes Hoanh Mo as a bilateral border gate.

Meanwhile China is stepping up efforts to make the border crossing an international gate and constructing a highway linking this area with Phong Thanh.

“We realize that it’s necessary to give up dependence on the state and business support. We can escape poverty and become rich by making full use of our own advantages. We hope that businesses will invest in Binh Lieu because of the locality’s outstanding differences,” said Huy.
 

 


Mong Cai border economic zone is the only border economic zone to have both construction and socio-economic development plans approved by the Prime Minister.

Bordering China’s Dongxing City, the zone covers a total area of more than 120,000 hectares in Mong Cai city and Hai Ha district. It will be developed in multiple sectors and trade, tourism, and industry are expected to be the key fields that generate high added values.

Nguyen Ngoc Thuy, Deputy Director of the provincial Industry and Trade Department, said “When we have a master plan, strategic investors will have a better understanding of the area to make investment decisions. It’s particularly important now that Vietnam has completed negotiations on the Trans-Pacific Partnership which, once it takes effect, will give more power to Quang Ninh.”

Deputy Director of the Ngoc Ha Export-Import Company, Tran Manh Hung stated “in the past it took enterprises a long time to find places for investment, conduct surveys, and deal with administrative procedures. The long-term master plan for Mong Cai development has helped businesses feel secure.”

By facilitating investment in tourism infrastructure, border economic zones in Quang Ninh are becoming a destination for domestic and foreign investors.

Nguyen Thi Thanh Huyen from the Hai Lam Sa Travel Agency said “over the past few months we have been receiving more visitors, especially from China, who have praised Mong Cai’s development. I strongly believe we will see more foreign tourists, not just from China but also from other regional and European countries.”

To date Mong Cai Border Economic Zone has attracted 20 FDI projects totaling more than US$1 billion, while the Hoanh Mo-Dong Van border economic zone drew more than US$49 million from investors on the inauguration day of the master plan. Some 40 projects in transportation, infrastructure, culture, trade, service, healthcare, education, irrigation, environment, agriculture, and industry will be prioritized for investment.

VNA/Hanoitimes
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