Bac Ninh industrial parks draw in foreign capital despite COVID-19
Despite COVID-19 affecting global production and supply chains, the northern province of Bac Ninh has maintained significant growth in FDI flows into its industrial parks (IPs).
Workers at Fujikin Bac Ninh company in Tu Son, Bac Ninh province (Photo: nhandan.com.vn)
Bac Ninh (VNA) - Despite COVID-19 affecting globalproduction and supply chains, the northern province of Bac Ninh has maintained significantgrowth in FDI flows into its industrial parks (IPs).
The province is home to 16 industrial parks,which received265.73 million USD in FDI in July, compared to just 66.65 million USD in June.
After 22 years, the number of FDI projects in Bac Ninh’s IPs has so farreached 1,074, capitalised at 20.08 billion USD.
The IPs have accounted for a lion’s share of the FDI flow into theprovince.
To remain attractive to both foreign and domestic investors, theprovince has focused on improving its business climate, giving priority toprojects that use less land and less labour, use more high technology, and makemore budget contributions, the Vietnam Government Portal reported.
Together with general preferential mechanisms and policies from theState, the province has also proposed certain initiatives to encourageinvestment in IPs and boost on-the-spot investment promotion through images of largeFDI businesses, such as Samsung, Canon, and Foxconn.
To welcome a shift in international investment, the Bac Ninh IndustrialZones Authority has worked with competent agencies to complete a projectadjusting the IP development plan by 2020, with a vision towards 2035.Investment promotion activities and the implementation of a policy onsupporting COVID-19-affected enterprises have also been prioritised.
In the Northern Key Economic Zone, Bac Ninh has grown from anagricultural province to a major industrial centre over the last 20 years, postingthe second-highest per capita income and one of the highest economic growthrates in the country.
Surrounded by economic centres such as Hanoi and Hai Phong, it hasmanaged to establish itself as one of Vietnam’s major FDI destinations./.
Major Japanese enterprises are looking to buy Vietnamese IT firms through merger and acquisition (M&A) deals to expand production and business in the Southeast Asian country, reported Dau tu (Investment) newspaper.
The EU-Vietnam Free Trade Agreement is expected to present enterprises with numerous opportunities to expand markets, with its preferential tariff measures. To seize the opportunities, however, many enterprises must overcome problems associated with a range of technical barriers.
To better control the production and sale of goods during the upcoming Mid Autumn Festival, the Market Surveillance Department in Bac Ninh province has increased its inspection efforts since the beginning of September and bolstered measures to prevent the appearance of counterfeit products and ensure food safety.
The Ministry of Industry and Trade (MoIT), the People’s Committee of Bac Ninh province, and Samsung Electronics Vietnam have jointly signed a memorandum of understanding (MoU) on a programme to support Vietnamese businesses operating in the northern province.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Workers at Fujikin Bac Ninh company in Tu Son, Bac Ninh province (Photo: nhandan.com.vn) 
