The flight carrying the Prime Minister and other top leaders landed at Van Don International Airport (Quang Ninh) on December 30th, 2018.

The flight carrying the Prime Minister and other top leaders landed at Van Don International Airport (Quang Ninh) on December 30th, 2018.

Reatimes: Could you reveal the reason why does Quang Ninh consider transport infrastructure to be one of the three strategic breakthroughs contributing to its outstanding growth, especially in attracting investors into tourism and resort real estate?

Mr. Truong Manh Hung: The past few years have witnessed Quang Ninh’s incredible economic growth rate compared to the national average, over 10% per year. Provincial revenue is among the top 5 provinces and cities of the country.

Understanding the fact that a synchronous infrastructure system is the key for sustainable development and a condition to pave way for investors, we have constructed a system of seven synchronous strategic plannings set up by leading international consultants such as Mc Kinsey, BCG (USA), Nippon Koei, Nikken Sekkei (Japan), etc.

Resources are also mobilized to focus on three strategic breakthroughs: strong investment in infrastructure, administrative procedure reform and quality improvement of human resources.

Mr. Truong Manh Hung, Permanent Vice Director of Quang Ninh Investment Promotion Agency.

Mr. Truong Manh Hung, Permanent Vice Director of Quang Ninh Investment Promotion Agency.

Hanoi – Hai Phong – Ha Long – Van Don expressway system, Van Don International Airport, Ha Long International passenger Seaport and many smart urban areas, industrial parks, economic zones are just a few examples showing that Quang Ninh’s socio-economic infrastructure is evenly and synchronously invested.

Quang Ninh is spreading “runway” for investor to “take off” in 2019.

Ha Long – Hai Phong expressway has been completed and put into operation since September 1st, 2018. (Photo: Do Phuong)

Ha Long – Hai Phong expressway has been completed and put into operation since September 1st, 2018. (Photo: Do Phuong)

It is clear that the strategy of focusing on infrastructure development, both “hard” and “soft”, and improving business climate is an advantage in attracting real estate investors. How has that advantage been taken by Quang Ninh and what are the results?

In addition to the “hard” infrastructure, information technology is also focused and developed to create a transparent, simplified and modern investment environment.

In the last five years, Quang Ninh’s Provincial Competitiveness Index (PCI) has always been in the country’s top 5. Especially in 2017, PCI of the coastal province rose to number 1 over 63 provinces and cities nationwide, reinforcing Quang Ninh’s position in attracting strategic estate investors.

Ha Long international tourist ship port.

Ha Long international tourist ship port.

The northeastern province has a high urbanization density and an improving average income per capita thanks to its exciting investment and development activities. In 2018, Quang Ninh welcomed 12.2 million visitors, of which 5.2 million were international tourists. Total revenue of the province’s tourism industry reaches an impressive figure of 22.9 trillion VND.

With big names in real estate already being present in the coastal province including Vingroup, Sungroup, FLC, etc. Quang Ninh has been and will be a “gold mine” for tourism and resort property investors.

Van Don International Airport.

Van Don International Airport.

State’s directions in preparing for the establishment of Van Don Special Economic Zone have boosted the provincial real estate market, culminating in the Van Don “fever”. However, after the National Assembly stopped reviewing the passage of the Special Economic Zone Law, will Van Don property market in particular and Quang Ninh in general become quiet and concerning in 2019?

This is not a concern because Van Don still remains a coastal economic zone, a potential land that is being exploited effectively.

Many large domestic firms are building new modern residential areas like Dong Xa, Cai Rong, Dai Son, Thong Nhat, etc. In addition, Vision Transportation Group (VTG), Sunny World Property Development Corporation, and HD MON Holdings proposed 3 super projects with a total investment of 10-15 billion USD: Mong Cai – Van Don high-speed railway project, 5000-ha urban complex project North of Cai Bau island, and Hon Net – Con Ong industrial urban area and deep-water port.

Ha Long – Van Don expressway.

Ha Long – Van Don expressway.

Other major projects are Viglacera’s Van Hai high-end eco-tourism complex in Quan Lan island, Sun Group’s Sun Grand Plaza World, and FLC Ha Long.

The Queen Cable Car – part of Sun World Ha Long Park project.

The Queen Cable Car – part of Sun World Ha Long Park project.

5-star luxurious Vinpearl Ha Long Bay Resort.

5-star luxurious Vinpearl Ha Long Bay Resort.

Foreign investors and financial corporations from Russia, Japan, Thailand, Korea, Switzerland, or Singapore are also studying and having projects underway in Van Don.

Thus, Quang Ninh real estate market will develop strongly and its profitability is anticipated to continuously increase.

Phuc Nguyen