Bac Ninh attracts over 2 billion USD in FDI

Employees of Deli Vietnam Co. Ltd. at Yen Phong Industrial Park in Bac Ninh province. (Photo: VNA)

The northern province of Bac Ninh has so far this year attracted more than 2 billion USD 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 inpiduals 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 318.8 million USD, 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 1.67 trillion USD, an increase of 8 folds.

Cumulatively, the province now has 1,799 valid FDI projects with a total registered investment capital of more than 23.1 billion USD.

Also in the period under review, Bac Ninh has granted new investment registration for 49 domestic projects with a total registered capital of 16.211 trillion VND (677.01 million USD). It granted investment registration to adjust capital for 38 projects with an addition of 1.828 trillion VND.

The number of new domestic enterprises in the province this year is 2,443, up 15.5%, with a registered capital of 20.036 trillion VND.

Cumulatively, the province has 17,930 domestic enterprises with a total registered capital of nearly 329.35 trillion VND.

The province expects to attract 1.2 billion USD 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./.