Quang Ninh’s impressive economic performance reflects strong investment, industrial expansion, and growth in tourism and services. In the reviewed period, the city attracted 8.72 billion USD in domestic non-state investment and more than 1.3 billion USD in foreign direct investment (FDI). Public investment disbursement reached 76% of the plan, up from 48% in the same period last year.
This investment is translating into expanded production capacity and stronger economic growth. The industry and construction sector is estimated to have grown by 14%, with processing and manufacturing surging 26.6%. All 12 major projects in the sector have begun operations, involving major companies such as Foxconn, Yaskawa, TCL, Autoliv, and Castem.
Vu Ngoc Anh, Vice Chairman of VB Holdings Company, an investor in VB Quang Yen Industrial Park, said, “We have carefully researched various factors, particularly Quang Ninh’s geographical location, favorable conditions, competitive advantages, and local leadership’s development strategy. Authorities at the grassroots level have also provided effective support for businesses.”
Tourism and services continue to serve as key growth drivers. Tourism revenue reached 2.18 billion USD, up 27% year-on-year, generating spillover benefits for accommodation, food and beverage, transportation, and trade. But to achieve its full-year GRDP growth target of 13.21%, Quang Ninh needs to sustain growth of 15% in the fourth quarter.
The city is seeking to further stimulate tourism and consumer spending, alongside the launch of major commercial projects. Among them, the Aeon Mall Ha Long shopping center is expected to give the retail market a significant boost, potentially adding an estimated 1.16 billion USD annually to retail sales and consumer service revenue once operational.
According to Inui Shinichiro, General Manager of Aeon Mall Ha Long, Quang Ninh is a highly promising market with many strengths.
“Quang Ninh is one of Vietnam’s fastest-growing economic regions, with a growing population. GDPR is one of the top in Vietnam. We therefore have high expectations for this market. Local authorities and relevant departments have been supporting us in opening our shopping center,” he said.
Inui expressed his belief that the project will attract more people from outside the city, not only tourists but also those looking to settle in Ha Long, as the shopping center will make life more convenient for people in Quang Ninh.
Quang Ninh recognizes that it still has considerable untapped potential. On October 2, the city launched a 90-day campaign to accelerate progress and achieve its 2026 socio-economic development targets.
The campaign focuses on reaching GRDP growth of 13%, generating approximately 3.9 billion USD in state budget revenue, and completing public investment disbursement in line with assigned targets. To that end, key priorities include speeding up projects, improving investment efficiency, and mobilizing development resources more effectively.
Bui Van Khang, Chairman of the municipal People's Committee, said, “We need to reorganize our development space and create new growth drivers. Once planning is in place, the decisive factor is effective implementation. The new administrative space must translate into new development opportunities, more effective governance, and fresh drivers of growth.”
Alongside efforts to meet its 2026 targets, Quang Ninh is laying the foundations for long-term development. Becoming a city four years ahead of the timeline set out in the Resolution of the 16th Provincial Party Congress opens up new development space and opportunities.
With its strategic geographical location, infrastructure, industrial base, tourism potential, and improved investment climate, Quang Ninh is working to turn its advantages into tangible resources and untapped potential into new growth drivers. Its performance in 2026 will reflect its development momentum as a city and reinforce its role as a regional growth pole, contributing to Vietnam’s broader goal of achieving double-digit economic growth.
