Bac Ninh attracts over US$2 billion in FDI
The northern province of Bac Ninh has so far this year attracted more than US$2 billion in foreign direct investment (FDI), thanks to innovations and increased efficiency of investment promotion activities.
The work in this effort includes dialogues with companies and workers, honouring outstanding individuals and organisations in tax payment, and maintaining a quick response team to support enterprises.
So far this year, the province has licensed 124 projects with combined registered capital of US$318.8 million, marking an increase of 7.8% in terms of the number of projects. Meanwhile, 118 projects were granted certificates for capital addition with a total of US$1.67 trillion, an increase of 8 folds.
Cumulatively, the province now has 1,799 valid FDI projects with a total registered investment capital of more than US$23.1 billion.
Also in the period under review, Bac Ninh has granted new investment registration for 49 domestic projects with a total registered capital of VND16.211 trillion (US$677.01 million). It granted investment registration to adjust capital for 38 projects with an addition of VND1.828 trillion.
The number of new domestic enterprises in the province this year is 2,443, up 15.5%, with a registered capital of VND20.036 trillion.
Cumulatively, the province has 17,930 domestic enterprises with a total registered capital of nearly VND329.35 trillion.
The province expects to attract US$1.2 billion in FDI to its industrial parks in 2023.
It commits to continue to accompany businesses, promote administrative reform and investment promotions, attract high-quality investment in new industrial parks, attract and strongly develop industries with high efficiency and high technologies, increase the proportion of processing, manufacturing and supporting industries, and reduce the proportion of outsourcing.
The province plans to accelerate the progress of site clearance and complete the technical infrastructure of industrial parks like Vietnam Singapore Industrial Park 2 (VSIP2), Yen Phong 2A, Yen Phong 2C, Thuan Thanh I, Gia Binh, Gia Binh II and industrial clusters.
It hopes to further attract foreign-invested enterprises, especially large ones that will create a driving force for the province’s economic development and play a leading role in supporting enterprises, and domestic small and medium enterprises when they join the supply chain.