The northern province of Bac Ninh has become a magnet for foreign investors thanks to its attractive investment environment and synchronous infrastructure system with a series of modern IZs.
Bac Ninh (VNA) 🧸–The northern province of Bac Ninh has become a magnet for foreign investors thanks to its attractive investment environment and synchronous infrastructure system with a series of modern industrial zones (IZ).
In the 2011-2015 period, the province attracted more than 12.13 billion USD in investment, of which foreign direct investment (FDI) was 10.74 billion USD.
In 2015, Bac Ninh led the nation in investment attraction with a total of over 3.68 billion USD.
Notably, the Samsung Display Vietnam Co. Ltd decided to increase its investment in the Yen Phong Industrial Zone by 3 billion USD after pouring 1 billion USD into the zone one year earlier, raising the total capital the Republic of Korea’s Samsung Group has so far invested in the province to 6.5 billion USD.
After 18 years of development, Bac Ninh’s industrial zones have proven themselves as destinations for global economic giants including Pepsico, Samsung, Canon, ABB, and Microsoft.
With 573 operating businesses, the IZs have made great contributions to increasing the local industrial production, export and competitiveness. From 2011-2015, enterprises in the zones created an industrial production value of 356 trillion VND (15.8 billion USD) and an export value of nearly 17.4 billion USD per year.
The presence of FDI enterprises in the IZs has turned Bac Ninh into a major manufacture of mobile phone and electronic products for export. In 2015, the province earned 22.5 billion USD from exports, ranking second in the country after Ho Chi Minh City.
To support businesses’ stable and long-term development, Bac Ninh has carried out 12 housing projects for workers, providing accommodations for 59,000 people.
In the coming time, the locality will prioritise attracting investment in high-tech and environmentally friendly industries, which create added value and help save natural resources towards sustainable development.-VNA
Bac Ninh authorities presented an investment licence to Samsung Display Co. Ltd on August 6, marking an upcoming flow of 3 billion USD from the company into the northern province.
The northern province of Bac Ninh granted licences for 13 new foreign direct investment (FDI) projects in April with total registered investment capital of 10 million USD, and also allowed six existing ones to raise their capital by 28.7 million USD.
The cumulative foreign investment in the northern province of Bac Ninh was worth 7.83 billion USD as of June 20, ranking it ninth out of the country's 63 provinces and cities, the Foreign Investment Agency said.
The Yen Phong Industrial Park in the northern province of Bac Ninh has drawn 7.5 billion USD in investment, including 7.2 billion USD from foreign investors.
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Illustrative image (Source: VNA)
