Quang Ninh (VNA) - The northern province of Quang Ninh in 2017 sawa year-on-year increase of 10.1 percent in total investment to 60.6 trillionVND, according to the Quảng Ninh provincial Department of Planning andInvestment.

This was the result of improving investment andbusiness environment, bringing confidence to enterprises andinvestors.

According to the department’s report, the total investment of 60.6 trillion VNDin 2017 included 22.9 trillion VND from the State, accounting for 37.8 percent;25.7 trillion VND from the private sector, accounting for 42.3 percent; and 12trillion VND from foreign direct investment, accounting for 19.9 percent.

Hoang Trung Kien, Deputy Director of the Quang Ninh EconomicZone, said investors were expected tostart the development of tourism and service complexes with a totalinvestment of 61 trillion VND in Van Don Island in 2018,contributing to the establishment of one of the first three specialeconomic and administrative regions in Vietnam.

Quang Ninh has plans to complete a highway connecting Ha Long Citywith the Hai Phong–Hanoi Highway, the Ha Long–Van Don Highway, Cam Hai –VanDon Highway, FLC Group’s golf and resort complex, and infrastructure in TexhongHai Ha Industrial Zone in the second quarter of 2018.

Meanwhile, Cat Van Hai Joint Stock Company has scheduled tostart the construction of its five-star Furama Ha Long Vietnam Resort and Villason the Quan Lan Island in the beginning of 2018, with a total investmentof 1.2 trillion VND, Hoang Duc Hung, General Director of Cat Van Hai JointStock Company, said.

Next year, some other projects will also begin constructions, including the90-km Van Don–Mong Cai Highway, with an investment capitalof about 16 trillion VND.

Vu Van Dien, Vice Chairman of the Quang Ninh People’sCommittee, said Quang Ninh province focused on developing strategicplans in three key fields of infrastructure, technology and humanresources in 2017, especially transport infrastructure projects, toattract many domestic and foreign companies developing big projects, suchas Vingroup, Sungroup and FLC Group.

The investors have put in a large investment amount toupgrade the transport system, promoting the development ofQuang Ninh. These include the Quang Ninh airport project, with atotal investment capital of nearly 7.5 trillion VND, which will supportthe development of the Van Don special administrative and economic zone.The Quang Ninh airport has been invested by Sungroup, a strategicinvestor in the province.

Other projects are Ha Long–Hai Phong Highway and Ha Long–Van Don Highway. Thosehighways will create traffic links in the economic triangle of Hanoi–Hai Phong–QuangNinh and the Hanoi–Hai Phong–Ha Long–Van Don Highway to attract more investmentand contribute to the socio-economic development of Quang Ninh province and thenorthern key economic region.

In 2017, Quang Ninh also approved investment in a series of projects to buildlarge and luxury resort and entertainment complexes with local largeinvestors, such as CEO Group, FLC Group, Mbland Corporation and ViglaceraCorporation.-VNA