Quang Binh ripe for quick development

Secretary of Quang Binh Party Committee Vu Dai Thang highlighted the province’s rich potential

Themed on adaption and development, Quang Binh leaders hope that through the investment promotion conference state managers, investors, and businesses would recognise the distinct potential of the province as a safe investment destination.

At the event, Nguyen Nam Thang, CEO of B&T Wind Farm JSC, shared that it only took three years for its 252MW project to reach completion and begin commercial power generation, from October last year. “With wind power investment, such progress, especially regarding the current pandemic situation, is a miracle even on the global scale,” said Thang.

Tran Thang, Chairman of Quang Binh People’s Committee, said that with support from the Party, the government, and provincial management, the province has gradually promoted its advantages with effective use of assorted resources for investment and development in recent years. “Many investors and leading brands have made forays in Quang Binh such as Vingroup, FLC Group, Dat Xanh Group, SCG, and CP Group, with projects across the board,” he said.

Meanwhile, Le Hoang Chau, chairman of the Ho Chi Minh City Real Estate Association, noted that as part of the central region’s heritage road, Quang Binh has great potential for resort real estate development. “We have invited 20 businesses to attend this investment promotion event, who have expressed keen interest in the investment opportunities in Quang Binh,” said Chau.

In the words of its leaders, Quang Binh has stepped into 2022 with a strong commitment and innovative mindset, placing top targets on creating a conducive environment that supports business development.

Quang Binh ranked seventh in Vietnam’s tourism competitiveness index tally last year, and its Phong Nha-Ke Bang National Park was acclaimed by US digital travel magazine AFAR as one of 39 top destinations to visit in 2022. Meanwhile, Son Doong was honoured by CN Traveller as one of seven must-explore wonders this year.

The north-central region in which Quang Binh is located is endowed with distinct advantages for tourism development, with forests, sea, and scenic natural landscapes. With a 116km coastline, the province is also home to Vietnam’s largest coastal sandbank and dotted with stunning beaches. Phong Nha-Ke Bang National Park, covering over 123,000 hectares and home to endless primitive forests, has twice been recognised by UNESCO as a natural heritage site and deemed as the “kingdom of caves” with more than 350 caves of various sizes.

With 627,000ha of forests, Vietnam’s second-largest forest coverage, and more than 20,000 sq.km continental shelf, Quang Binh has full potential for agro-forestry-fishery development.

Quang Binh also features a seamless transport system with the National Highway No.1A, the North-South railway, the eastern and western branches of Ho Chi Minh Highway, the North-South Highway, and an under-construction coastal route, as well as the National Highway No.12A crossing Cha Lo Bordergate – the shortest connection to both Laos and Thailand. The province is also home to Dong Hoi Airport and Hon La Seaport.

Quang Binh accommodates two economic zones (EZs) and eight industrial zones, enjoying very favourable geographical locations in which Hon La EZ and Cha Lo International Bordergate EZ are deemed as having prime potential as their propitious natural conditions are conducive for building plants and trading units having high spillover effects on regional development.

At the conference, Vu Dai Thang, Secretary of Quang Binh Party Committee, said, “Under the motto that ‘success of investors and businesses is the province’s success’, smart investment promotion means supporting existing businesses to complete their projects on schedule to quickly commence effective operation. Quang Binh is committed to accompanying investors at every step, motivating their operation and cultivating trust in a safe, friendly, and attractive investment environment.”