Northern Quang Ninh province has set a new record in investment attraction so far this year, with $5 billion in total, according to the Provincial People’s Committee.

Of the amount, $1.9 billion was domestic non-State investment, or 17.3 per cent higher than the target.

Eighteen projects were newly-approved while seven added capital, mostly in mining, which has large-scale investment and advanced technologies.

Domestic projects included the Stavian Quang Yen Petrochemical Plant in the Quang Yen Coastal Economic Zone, with total investment of an estimated VND36 trillion ($1.5 billion), and the Yen Hung LNG Port with capital of VND792 billion ($32 million).

Quang Ninh also attracted $3.1 billion in FDI during the January-October period, equal to 311 per cent of the target set by the Provincial People’s Council and 259.2 per cent of that set by the Provincial People’s Committee. The province therefore overtook the country’s “leaders” in FDI attraction, including Hanoi, Hai Phong, and Ho Chi Minh City.