According to experts, in the context of globalization and international economic integration, attracting foreign investment (FDI) has become one of the important development strategies of many provinces and cities in Vietnam. For Quang Tri, a province located in the middle of the country, foreign investment promotion efforts are increasingly bringing clear results, contributing to promoting sustainable socio-economic development.
Vincom Shophouse Royal Park project is considered a new urban symbol of Quang Tri
Natural advantages and investment attraction strategies
Quang Tri is considered an important gateway connecting Vietnam with Southeast Asian countries through the East-West Economic Corridor (EWEC). With a diverse transportation system including National Highway 1A, North-South railway, Cua Viet seaport, My Thuy deep-water port, Quang Tri airport and especially Lao Bao international border gate, Quang Tri has great potential to become a logistics center and regional trade gateway.
Aware of this advantage, Quang Tri province has developed an investment promotion strategy, focusing on potential fields such as renewable energy, processing industry, logistics, and tourism. In particular, the Southeast Quang Tri economic zone with outstanding investment incentives has become a bright spot attracting many foreign investors.
A meeting with Korean investors with leaders of Quang Tri Provincial People's Committee
According to the Quang Tri Investment, Trade and Tourism Promotion Agency, the province has developed synchronous investment strategies, focusing on upgrading infrastructure such as seaports, airports and important roads. Economic zones such as Southeast Quang Tri are considered the nucleus to promote industrial and service development, contributing to creating a favorable environment to attract foreign investment.
Effectiveness of foreign investment promotion
According to data from Quang Tri Provincial People's Committee, in recent years, FDI inflows into the province have grown significantly. In particular, the field of renewable energy such as wind power and solar power is attracting the attention of investors from Japan, South Korea and Europe. Large projects such as wind power projects in Huong Hoa district, Dakrong district or solar power plant in Gio Linh district not only generate large revenues for the budget but also promote a sustainable energy transition.
In addition, Quang Tri has organized many international investment promotion conferences, closely coordinated with diplomatic agencies and economic organizations to promote the image of the province. As a result, the province has signed many memorandums of cooperation with large corporations and potential localities, opening up opportunities for many large-scale and widespread projects.
Up to now, the province has more than 646 projects licensed for investment that are still valid with a total investment capital of nearly 237 trillion VND. Notably, among them are 21 FDI projects with a total registered capital of more than 2.5 billion USD. In 2023, Quang Tri attracted 52 new investment projects, with a registered capital of more than VND 3,400 billion.
South Korea is currently the leading country in terms of direct investment in Vietnam. For Quang Tri province, Korea has officially cooperated since 2001, has become one of the reliable and important partners in many fields. In August, DRP Korea Development Co., Ltd. proposed the Quang Tri provincial government to support the necessary procedures to invest, implement and build a golf course project combined with a resort in Gio Linh district with an area of more than 172 hectares. the total investment capital is expected to be 100 million USD. According to this business, the current golf course is a very necessary factor in attracting tourists, catching up with the Quang Tri Airport Project, attracting the number of domestic tourists.
Despite many achievements, it is also frankly admitted that Quang Tri still faces some challenges in attracting FDI. In particular, technical infrastructure in some areas is still limited, especially technical infrastructure for wastewater treatment in industrial zones and clusters, site clearance is not fast, the quality of human resources is not uniform and administrative procedures in some cases are still not really convenient.
To solve these problems, according to businesses, the province needs to promote administrative reform, strengthen the training of high-quality human resources and continue to invest in synchronous infrastructure development. At the same time, building the image of a friendly, transparent Quang Tri and always accompanying businesses is also a key factor to increase attractiveness to investors.
The effectiveness of Quang Tri's foreign investment promotion in recent years is a clear demonstration of the strategic vision and continuous efforts of the local government. With the initiative in improving the investment environment, maximizing local advantages and strengthening international cooperation, Quang Tri is on the verge of becoming an attractive investment destination, contributing to promoting the comprehensive and sustainable development of the province.
