An employee of Deli Vietnam Co.Ltd at Yen Phong Industrial Park in Bac Ninh province. (Photo: VNA) BacNinh (VNA) – The total newly registered and adjusted investment capital that pouredinto the northern province of Bac Ninh’s industrial parks (IPs) in July hit59.96 million USD. Of the sum, 36.41 million USD was foreign direct investment(FDI).
Themanagement board of the province’s IPs granted investment registrationcertificates for nine new projects with a total registered capital of 43.77million USD.
Therewere 43 projects registered to adjust their investment in the month, with atotal additional registered capital that totaled roughly 16.19 million USD.
Inaddition to building an investment database, the provincial Industrial Zone Investment and DevelopmentSupport Centre also assisted 35 enterprises in terms of investment and labouras well as guiding them on how to apply for work permits.
BacNinh has grown from a predominantly agricultural province to a major industrialcentre over the last 20 years, boasting one of the highest economic growthrates in the Northern Key Economic Zone.
Surroundedby economic centres such as Hanoi and Hai Phong, it has managed to establishitself as one of the major FDI destinations in all of Vietnam.
Asof the end of July this year, the province was home to 1,747 valid foreign-investedprojects worth 22.8 billion USD, ranking seventh nationwide in terms ofregistered capital. Some 38 countries and territories have invested in Bac Ninhprovince’s industrial zone network.
Lastyear, Bac Ninh stood in the eighth position out of 63 cities and provinces interms of economic scale. Its gross regional domestic product (GRDP) reached133.6 trillion VND (5.7 billion USD), 23.8 times higher than that of 2017,accounting for 2.71% of the country’s gross domestic product (GDP). The GRDP per capita reached 165.6million VND, and thus ranked 4th nationwide.
Manyflexible mechanisms and policies have been adopted, contributing toaccelerating the economic restructuring.
Theaverage growth rate of its economy in the 1997-2021 period was 13.89% per year.Developing the electronics and high-tech sectors spearheaded the industrygrowth, making the province the centre of the electronics industry in thecountry.
Lastyear, the province’s industrial production was valued at nearly 1.5 quadrillionVND, ranking first nationwide.
Itsexport turnover stood at 44.9 billion USD, accounting for 13.4% of thecountry’s total amount in that industrial sector.
BacNinh launched its first industrial park in Tien Son district in 2000. Now, theprovince is home to 16 industrial parks, of which ten have been put intooperation.
BacNinh province not only supports traditional industries but has also drawn inand developed new ones. In the electronics industry, for example, manyworld-famous multinational corporations namely Samsung of the Republic ofKorea, Canon and Sumitomo of Japan have set up in the province. The presence ofthese firms has given a facelift to the technology industry in the province.
Theshare of high-tech industrial products of Bac Ninh province was estimated at86% and the electronics industry accounted for more than 80% of the industrialoutput value.
Thedevelopment of supporting industries has resulted in the formation of industrial clusters.Many local businesses have served as tier-1 or tier-2 suppliers to foreign-investedenterprises and joined global value chains in the process.
Toattract more investment into IPs and clusters, the province will review theplanning of these facilities, meet the needs of investors, enhanceadministrative-procedure reform as well as facilitate enterprises investing inthe locality.
Itwill develop high-tech modern industries, using fewer resources and enhancingthe ratio of localisation in the product.
ꦐ Prioritywill be given to high-tech and environmentally friendly projects whilepromoting investment in existing IPs. /.
