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Doing Business in Quang Ninh, Vietnam 2024

Note: This article looks broadly at the business environment in Quang Ninh. For specific details on setting up a company in Vietnam see: How to Start a Business in Vietnam.

Quang Ninh, a coastal province in northeastern Vietnam, has emerged as a strategic location for businesses seeking to tap into the country’s growing economy. With its prime geographical position, well-developed infrastructure, and abundant natural resources, the province offers a favourable environment for investors from various sectors.

The province’s strategic location along the Gulf of Tonkin provides connectivity to both domestic and international markets. Its proximity to China, a major economic partner, and its access to key transportation routes, including seaports and highways, make Quang Ninh an attractive destination for businesses looking to expand their operations in the region.

In addition to its strategic location, Quang Ninh boasts a diverse economy, with key sectors such as manufacturing, tourism, mining, and agriculture. The province’s industrial parks and economic zones offer a wide range of incentives and support services to attract foreign investors, making it an ideal location for businesses looking to establish manufacturing facilities or expand their operations in Vietnam.

Key economic sectors in Quang Ninh

Quang Ninh’s economy is driven by a diverse range of sectors, each contributing significantly to the province’s overall development. Some of the key economic sectors in Quang Ninh include:

  • Mining: The province is renowned for its abundant mineral resources, particularly coal. Quang Ninh accounts for a significant portion of Vietnam’s coal production, making it a major player in the country’s energy sector.
  • Manufacturing: In recent years, Quang Ninh has witnessed a surge in manufacturing activities. The province has established several industrial parks and economic zones, attracting foreign and domestic investors in various sectors, including electronics, textiles, and automotive components.
  • Tourism: Quang Ninh’s stunning natural landscapes, including Ha Long Bay, a UNESCO World Heritage Site, have made it a popular tourist destination. The tourism sector contributes significantly to the province’s economy, generating revenue from accommodation, transportation, and related services.
  • Agriculture: While not as prominent as mining and manufacturing, agriculture remains an important sector in Quang Ninh. The province produces a variety of agricultural products, including rice, fruits, and vegetables.
  • Services: The service sector, including transportation, logistics, and retail, plays a crucial role in supporting the province’s economy. Quang Ninh’s strategic location and well-developed infrastructure have contributed to the growth of its service sector.

These key economic sectors have contributed to Quang Ninh’s economic growth and development. The province’s diverse economic base has helped it to mitigate risks and ensure sustainable development.

Public Administration Performance Index

The Public Administration Performance Index (PAPI) measures the efficiency and quality of public administration services provided by a government. In the context of Quang Ninh, the PAPI provides insights into the city’s governance effectiveness.

PAPI, Quang Ninh, 2019 to 2023

20232022202120202019
Participation0.005.750.005.815.53
Transparency of Local Decision-making0.006.370.006.506.29
Vertical Accountability0.004.580.004.794.89
Control of Corruption in the Public Sector0.007.430.008.297.64
Public Administrative Procedures0.007.660.007.617.30
Public Service Delivery0.008.260.007.717.65
Environmental Governance0.004.120.004.964.75
E-Governance0.003.710.003.142.61
Unweighted PAPI Score0.0047.880.0048.8146.66

^No data was provided for 2021 and 2023.

Source: The Vietnam Provincial Governance and Public Administration Performance Index

Provincial Competitiveness Index

The Provincial Competitiveness Index (PCI) is a key tool for evaluating the business environment in Vietnam’s provinces. Quang Ninh, as Vietnam’s economic hub, is always a focal point in PCI reports.

PCI, Quang Ninh, 2019 to 2023

20232022202120202019
Entry Costs7.597.167.987.727.16
Access to land6.67.577.397.127
Transparency6.826.646.316.447.2
Time Costs8.547.898.528.537.89
Informal Charges7.727.737.857.377.1
Policy Bias5.696.576.967.257.69
Proactivity6.837.497.747.337.96
Business Support Policy7.726.247.397.586.68
Labor Policy6.47.677.278.417.95
Law & Order7.698.117.917.767.58
PCI Scores71.2572.9573.0275.0973.4
Ranking11111

Source: Provincial Competitiveness Index 2023

Foreign direct investment in Quang Ninh

Quang Ninh has witnessed a significant influx of foreign direct investment (FDI) in recent years, driven by its strategic location, well-developed infrastructure, and favourable investment climate. The province has attracted investments from various sectors, including manufacturing, tourism, mining, and services.

In fact, in the first seven months of 2024, Quang Ninh recorded 24 new foreign invested projects with newly registered capital of US$1.56 billion. This was more than double the foreign direct investment that entered the province over the same period last year.

Entertainment and nightlife in Quang Ninh

Quang Ninh, with its stunning natural landscapes and vibrant culture, offers a diverse array of entertainment and nightlife options for visitors.

Explore Ha Long Bay, a UNESCO World Heritage Site, and take a cruise through the breathtaking limestone karsts and emerald waters. Enjoy kayaking, swimming, or simply relax on a private beach. Visit Sun World Ha Long Park, an amusement park located on Ba Trai Dao Island, and experience thrilling rides, water parks, and stunning views. Discover Bai Chay Beach, a popular destination for sunbathing, swimming, and water sports.

For outdoor enthusiasts, hike in Ban Gioc-Detian Waterfall, one of the largest waterfalls in Southeast Asia, or explore the pristine beaches, fishing villages, and lush forests of Quan Lan Island.

Enjoy the vibrant nightlife scene in Ha Long City with a variety of bars, clubs, and pubs offering DJs, live bands, and dancing. Relax at beachfront bars and enjoy live music, cocktails, and stunning views of Ha Long Bay. For a cultural experience, catch a traditional Vietnamese performance, such as water puppetry or opera, at local theatres.

Explore the bustling night markets in Ha Long City and Mong Cai for souvenirs, local handicrafts, and street food.

Whether you’re seeking adventure, relaxation, or cultural experiences, Quang Ninh offers a wide range of entertainment and nightlife options to suit every taste.

What’s next?

Quang Ninh, a dynamic province in northeastern Vietnam, presents a compelling investment opportunity for businesses seeking to expand their operations in the country. With its strategic location, infrastructure, and diverse economic sectors, the province offers a favourable environment for foreign investors.

Key factors driving investment in Quang Ninh include its proximity to China, a major economic partner, and its access to key transportation infrastructure. The province’s abundant natural resources, particularly in the mining sector, have attracted significant foreign investment. Additionally, Quang Ninh’s growing tourism industry, driven by the allure of Ha Long Bay, presents opportunities for businesses in the hospitality and related sectors.

The province’s industrial parks and economic zones offer a wide range of incentives and support services to attract investors, further enhancing its appeal.

While Quang Ninh offers numerous opportunities for businesses, it is important to conduct thorough research and due diligence before making investment decisions. Understanding the local market, regulatory environment, and cultural nuances is essential for success.

To keep up to date with the latest business developments in Quang Ninh, foreign firms and business persons should make sure to subscribe to the-shiv.

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