Bringing Quang Binh closer to investors

What are the major development goals of the province towards its master planning until 2030, with a vision until 2050?

Vu Dai Thang, member of the Party Central Committee and Secretary of Quang Binh Party Committee

Quang Binh’s master planning for the rest of this decade has oriented the provincial development in line with the country’s socioeconomic development strategies, attuned to development orientations set in national and regional planning schemes, and seeks to best avail of local advantages.

The master planning will help Quang Binh make the most of its available advantages and effectively mobilise external resources gearing towards green and sustainable growth.

By 2030, Quang Binh is set to become a fairly developed locality in the central region, with a regional GDP growing an average from 8.4-8.8 per cent annually. By 2050, it aims to be a dynamic economy of the central region and the whole country.

Which priority areas should Quang Binh focus on to bolster growth?

When setting goals, we have consulted many leading industry experts to cover all available potential, thereby orienting the development scenario for Quang Binh in the long haul, while ensuring breakthroughs and sustainable development. On that basis, it has identified four development priorities in this period.

First is developing tourism infrastructure so that this field is truly a key economic sector. Industrial development is also key, stimulating investment into power production, renewable energy, processing and manufacturing. We want to develop high-tech agriculture, considering this a pedestal for the economy, and effectively and sustainably develop the marine economy.

In addition, the province has identified two growth driving centres, including the Phong Nha-Ke Bang national tourist area and Hon La Economic Zone (EZ). Accordingly, the goal is turning Phong Nha-Ke Bang into a high-class tourism hub in Southeast Asia and Hon La EZ as a driving economic zone contributing to growth.

In light of the master planning, Quang Binh also identifies three urban centres: Dong Hoi city and its vicinity as the nucleus for associated gateway urban areas; the northern urban centre with Ba Don town associated with Quang Trach district as well as Hon La and Tien Hoa EZs; and the southern urban centre with Kien Giang town as the nucleus alongside Le Ninh and Ang Son satellite urban areas.

In particular, we have identified three economic corridors: the delta coastal economic corridor along the National Highway No.1A; the East-West economic corridor along the National Highway No.12 connecting Cha Lo international border crossing-Ba Don town-Hon La Port; and the midland and mountainous economic corridor associated with the Ho Chi Minh Highway and North-South Expressway network’s eastern part.

The development priorities are associated with Quang Binh’s advantages. To realise the strategy, what breakthroughs does it need?

First of all, it is necessary to focus on developing modern and synchronous infrastructure. To achieve this, Quang Binh needs to mobilise resources to invest in key projects such as a seamless transport system, tourism infrastructure, industrial parks, and economic zone infrastructure.

At the same time, it shall innovate and perfect institutions, mechanisms, and policies to ensure the mobilisation and promotion of resources, remove barriers, and enhance the enabling role of local state management agencies; putting people and businesses at the centre in implementing administrative reform; improving the local business and investment environment; and enhancing competitiveness and digital transformation capacity to engage domestic and foreign investors.

In particular, Quang Binh focuses on developing human resources, especially those with high professional and technical qualifications, to meet the needs of new industries and the high-value tourism. The locality will focus on fostering and promoting talent, and renovating recruitment, use, and respect of talent in management, state administration, sci-tech, and innovation.

The master planning of the province is considered a strategic orientation, envisioning its socioeconomic development. To realise this plan, does Quang Binh need any more factors?

The master planning approved has basically covered all the objectives and development orientations. However, for the province to develop more comprehensively and optimise the set goals, it is necessary to take into account its development space, including the marine space associated with the whole country.

Quang Binh has a special EZ with 20,000 square kilometre sea space, while the inland space is only 8,000sq.km. The planning of the province separates the sea space, based only on the inland space, so it does not cover all the development advantages.

In addition, Quang Binh has a 200km border with Laos, so it is possible to expand the economic space to the west. This is an area with vast land, which can develop diverse industries such as energy, rubber, and coffee.

The province belongs to a dynamic industrial development area encompassing Thanh Hoa, Nghe An, and Ha Tinh. This area has many dynamic factories such as Nghi Son Refinery and Formosa Vung Ang Complex. Especially, Hon La EZ is adjacent to Vung Ang EZ in Ha Tinh province, creating a very convenient economic development space with the mutual support between the two EZs.

For instance, it is only 70km from Dong Hoi Airport to Vung Ang EZ, compared to more than 150km from Vinh Airport. This is one of the strong advantages in terms of local transport infrastructure.

This year’s investment promotion conference took place in Hanoi. What message does the province give to domestic and foreign investors this time around?

In 2021, we held the conference in Dong Hoi and last year we chose Ho Chi Minh City. This year, we chose Hanoi to bring exposure to the province’s master planning and investment promotion plan. Hanoi is both an economic centre an administrative centre with vibrant investment and business activities of large state and private corporations, and especially the financial and banking system.

To realise the master planning, Quang Binh needs great resources to create breakthroughs and promote development, in which financial resources are crucial. This financial resource should be realised leveraging the public-private partnership model, where the role of banking is essential.

The message of the Hanoi conference is to bring the province closer to investors. With this message, we want Quang Binh to get closer to economic groups, financial institutions, banks, and the business community not only in Hanoi but also in the country and abroad. The conference also helps bridge us with international organisations, foreign embassies, and more.

Through the conference, we want to create a very close investment environment between Quang Binh and investors, creating a fundamental and comprehensive change in approach and behaviour in investment attraction. We expect that, with this endeavour, the province can attract quality investors who are enthusiastic about local development.

In previous conferences, Quang Binh has made 10 commitments to investors, and we still maintain these commitments. In the upcoming time, we will making radical changes across the board, from districts and towns to departmental levels, with the goal of making it easier for investors, especially at the enforcement level. We believe that investors will not be disappointed when selecting Quang Binh as a destination.

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