Fresh approaches lifting Quang Binh’s development

Towns in Quang Binh could be on the cusp of a tourism boom akin to those in Phu Quoc and Nha Trang

Holding a strategic position in the East-West Economic Corridor, the central province of Quang Binh possesses a very convenient transport system.

The province is home to Phong Nha-Ke Bang National Park, a world heritage site dubbed as the ‘cave kingdom’. Wonders like these enabled Quang Binh to become one of the region’s leading adventure tourism centres, which also led to opportunities to push up development in other sectors.

Since last year, Quang Binh has called for investment in over 60 projects in diverse fields of agriculture, industry-energy-trade, tourism, and infrastructure development. The province has been attempting to create growth momentum through the presence of motivating projects, such as the Quang Trach 2 thermal power plant with a capacity of 1,200MW and valued at $2.09 billion by Electricity of Vietnam; the $34.7 million Bao Ninh golf project from privately-held Truong Thinh Group; and a $565 million resort mega-complex by FLC Group, a major developer in the northern region.

At the province’s first major investment promotion conference in early 2021, 28 investors were committed to implementing 35 projects with the combined investment value surpassing $4 billion in the locality.

Aside from approaching this new capital flow, Quang Binh has accelerated the pace of public investment projects with high spillover effects in the province, like building a coastal route and Nhat Le Bridge 3 and expanding aircraft parking at Dong Hoi Airport.

According to Vu Dai Thang, Secretary of Quang Binh Party Committee, such investment promotion is a crucial task. From the outset of 2022, the province has resumed this promotion in the region through holding on-spot activities attracting businesses from Ho Chi Minh City, Hanoi, among others.

Quang Binh has also hosted online networking events from Japan and South Korea to charm investors to the province.

Distinct possibilities

In particular fields, Quang Binh has set forth very clear development orientations, according to Thang. In agriculture, efforts are geared towards developing sectors with high added value, such as promoting products under the ‘One Commune, One Product’ scheme and deep processing. For manufacturing, Quang Binh focuses on strengthening infrastructure in industrial zones, industrial clusters and economic zones, creating favourable conditions for investors to access land to build factories in the province.

“We also strive to best avail of local distinct renewable energy sources, particularly solar and wind power. Tourism is also set to grow into a spearhead sector in the upcoming time,” said Thang.

Quang Binh is planning to host its second large-scale investment promotion event in Ho Chi Minh City on March 25, which is expected to attract widespread attention from economists and investors all over the country.

The province is increasingly becoming a leading adventure tourism centre in Asia, rooted in the local imposing cave system and rich cultural values. Surpassing Vietnam’s boundaries, the image of Quang Binh as a beautiful land has been reaching friends afar through global reputed media channels such as Lonely Planet and CNN, or holistic experience of passionate visitors.

In the recent past, a film crew from Britain’s BBC Landmark Natural History Series chose Quang Binh for an upcoming documentary that depicts the marvellous scenes of Quang Binh’s nature.

Long-term appeal

According to figures from Quang Binh Department of Tourism, during the Lunar New Year, Quang Binh hailed more than 35,000 local and international visitors. Local authorities are confident it can welcome about two million visitors this year, including about 10,000 from overseas.

Impressive figures in the tourism sector are instrumental to warming up the local resort real estate market. Experts believed that the segment would retain its long-term appeal to investors, particularly coastal areas, which are witnessing marked changes recently.

The presence of leading developers like Vingroup, FLC, and Hung Thinh Group in the province is contributing to turning untapped local beaches into potential golden land.

“Localities such as Danang, Nha Trang, and Phu Quoc are familiar tourism hot-spots. These markets will reach saturation at some point, shifting investor attention to other localities such as Quang Binh or Phu Yen,” said Dang Hung Vo, former Deputy Minister of Natural Resources and Environment. “These localities are not much different in their potential and might even find a faster growth rate.”

Quang Binh leaders unveiled that the province will be pushing tourism offerings in packages, along with tailor-made items such as golf resort packages and long-stay eco-tours, among others.

In the words of Secretary Thang, 2022 is set as the year for rebound and development with effective pandemic control. “Quang Binh commits to creating breakthroughs leveraging inclusive administrative reforms and pro-business administration for providing the most conducive environment for investors,” he said.