British investors propose $18 billion deep-sea port, industrial urban complex in Quang Ninh

A group of British investors has proposed a plan to develop a deep-sea port and industrial urban complex worth $18 billion in the northern Vietnamese province of Quang Ninh. This proposal comes at a time when the province has attracted over $1.095 billion in foreign direct investment (FDI) from January to July, significantly exceeding its annual target and solidifying its reputation as a safe, attractive, and reliable destination for global capital. Quang Ninh province is leveraging its rich marine resources, particularly in coastal areas, to enhance economic value and improve the livelihoods of local residents. The proposal aims to create a framework that maximizes the province's development potential and ensures sustainable growth. Vietnam has experienced robust economic growth in recent years, driven largely by its manufacturing sector. Exports, especially in wood and wooden products, reached $17.3 billion in 2025, reaching over 160 countries and territories, including key markets like the US, EU, and Japan. The agricultural sector is also seeing export expansion, with durian exports nearing $1.1 billion in the first half of 2026, a 32% year-on-year increase. Against this backdrop of economic expansion, the Vietnamese government is focusing on infrastructure development and improving the investment climate. The proposed deep-sea port project is seen as a strategic move to capitalize on Quang Ninh's geographical advantages and strengthen its role as an international logistics hub. Under its one-party system, Vietnam pursues long-term development strategies led by the state, and large-scale projects like this are crucial for accelerating economic growth. In its relationship with China, Vietnam aims to deepen economic ties while maintaining geopolitical balance, contributing to regional economic stability. Information Source: VietnamPlus English