Billions of dollars to be poured into Red River Delta

Deputy Minister Dong also said Prime Minister Pham Minh Chinh will chair a conference on February 12 in Quang Ninh province to discuss which 20 official development assistance projects in the region will receive a share of a $2 billion commitment from international groups. There will also be a series of investment certificates and four investment planning decisions awarded, along with two MOUs to be signed, worth $1 billion in registered capital.

Quang Ninh People’s Committee will also release the province’s plan for the period of 2021-2030, with a vision to 2050.

“This conference will play an important role in the growth of the Red River Delta region, as it represents a breakthrough opportunity for the area, long considered to be the industrial heartland of Vietnam and one of the richest and most developed parts of the country,” Dong said.

Attracting foreign direct investment (FDI) is one of the key tasks on the Quang Ninh agenda for 2023. Quang Ninh last week set a specific target for enticing FDI in 2023 as it looks to attract 18 foreign-invested projects into economic zones this year, of which, 16 are to be newly registered projects with two added-capital projects, totalling approximately $1.2 billion in value, more than 10 per cent over projections.

The region comprises 11 provinces and centrally-run cities, divided into two sub-regions. The northern sub-region covers Hanoi, Haiphong, and the provinces of Quang Ninh, Vinh Phuc, Bac Ninh, Hai Duong, and Hung Yen, while the south consists of the provinces Thai Binh, Ha Nam, Nam Dinh, and Ninh Binh.

In October, the Ministry of Planning and Investment (MPI) will submit to the Government an economic recovery plan, which defines the years of 2022 to 2023 as the time for the country’s recovery, according to MPI Minister Nguyen Chi Dung

Hanoi’s Duong Lam ancient village, renowned for its unique houses built with wooden frames and fortified with laterites, still preserves typical features of old villages in the Red River Delta.

The just-approved Red River urban zoning plan expects to open opportunities in Hanoi for developers and investors to set up projects to utilise tens of thousands of hectares of land along its banks, which has been exploited inefficiently for years.

Built in just over two years since the completion of site clearance and with investment of nearly 13 trillion VND, the 80-km Van Don - Mong Cai Expressway has been opened in the northern province of Quang Ninh. It is expected to open up a new development space for the northern province of Quang Ninh and the entire Red River Delta.