Bac Ninh leads in FDI attraction in two months

The northern province of Bac Ninh raked in more than 1.3 billion USD in foreign direct investment (FDI) in the first two months of this year, making it the country’s largest FDI recipient during the period, according to the Ministry of Planning and Investment’s Foreign Investment Agency.

Bac Ninh leads in FDI attraction in two months hinh anh 1

Production at Japan's Foster Electric Company in the Vietnam-Singapore Industrial Park (VSIP) Bac Ninh. (Photo: VNA)

The northern province of Bac Ninh raked in more than 1.3 billion USD in foreign direct investment (FDI) in the first two months of this year, making it the country’s largest FDI recipient during the period, according to the Ministry of Planning and Investment’s Foreign Investment Agency.

FDI flows into Bac Ninh accounted for 26.5 percent of the country’s total and was 7.6 times that of the same period last year.

So far this year, the province has licenced 16 new FDI projects with combined registered capital exceeding 33.8 million USD, said Nguyen Quang Thanh, Deputy Director of the provincial Department of Planning and Investment. The province has also authorised 22 existing projects to add over 1.25 billion USD to their investment, he added.

Most of the additional funding was registered to land in developing urban and service infrastructure at the Vietnam-Singapore Industrial Park (VSIP) Bac Ninh (941 million USD), and building a plant for manufacturing electronic devices, network equipment and multimedia audio products at Que Vo Industrial Park (306 million USD), he said.

Bac Ninh is currently home to 1,727 valid FDI projects with total registered investment reaching nearly 22.54 billion USD./.

Source: VNA
en.vietnamplus.vn

Related News

Many foreign enterprises find opportunities and expand investment in Vietnam

Many foreign enterprises find opportunities and expand investment in Vietnam

VCN - In the context of the world investment wave shifting, Vietnam has the opportunity to become the world's factory, many foreign enterprises have been looking for investment opportunities as well as expanding investment in Vietnam.
Increase foreign investment resources from improving the business environment

Increase foreign investment resources from improving the business environment

VCN - In the two years 2024-2025, the proportion of foreign invested enterprises (FDI) expected to expand production and business will decrease compared to previous years, reflecting a more cautious trend of FDI enterprises due to the impact of the current unpredictable global economic context.
High-quality human resources: "Hold the gold, don

High-quality human resources: "Hold the gold, don't let it fall"

VCN - The shortage of high-quality human resources, especially in high-tech fields, is a major bottleneck in attracting large technology corporations to shift investment locations in research, development and production to Vietnam. Therefore, if Vietnam does not fully prepare the conditions to welcome the wave of high-quality FDI investment, Vietnam will miss a "gold mine" in the future.
Solutions for maintaining Vietnam

Solutions for maintaining Vietnam's position as a bright spot for foreign direct investment

VCN - Attracting FDI capital has been one of the bright spots contributing to the positive economic outcomes of Q1/2024, setting a favorable stage for the year 2024. This outcome has reaffirmed investors' confidence in Vietnam's investment environment and continues to drive decisions for new investments and the expansion of existing projects in Vietnam.

Latest News

Exports in 2024 expects to reach US$370 billion

Exports in 2024 expects to reach US$370 billion

VCN – Motivated by recent development, exports in 20204 may reach US$ 370 billion, the General Department of Vietnam Customs said.
Imports and exports achieve more than US$270 billion

Imports and exports achieve more than US$270 billion

VCN - By mid-May, the country's total import-export turnover reached US$270.82 billion, according to the latest statistics from the General Department of Vietnam Customs.
Coffee output in 2023-2024 crop forecast to fall 20 per cent

Coffee output in 2023-2024 crop forecast to fall 20 per cent

Việt Nam’s coffee output in the 2023–2024 crop year is estimated to decrease by 20 per cent compared to the previous crop year, to 1.47 million tonnes, the lowest in four years.
Pharmaceutical industry sees slowing growth momentum

Pharmaceutical industry sees slowing growth momentum

After record profits and strong growth in 2023, the industry’s momentum faced limitations in 2024 due to rising raw material costs and increased market competition.

More News

Agricultural and food businesses increased profits thanks to export recovery

Agricultural and food businesses increased profits thanks to export recovery

VCN - Many agricultural and food exporters have recorded positive business results thanks to the momentum from the recovery of major markets and solutions to enhance deep processing, helping to improve product value and business efficiency.
The auto industry does not shrink from many challenges

The auto industry does not shrink from many challenges

VCN - In the context of the import tax reduction roadmap being implemented when Vietnam participates in commitments in Free Trade Agreements, the pressure of competition on the Vietnamese automobile industry is also increasingly fierce. Therefore, in addition to tax and fee support, many breakthrough solutions and policies are needed to create a boost for the auto industry.
Traceability helps improve product value

Traceability helps improve product value

VCN - Traceability of origin has been and is a mandatory requirement for Vietnamese goods when exporting to several markets. The application of information technology and the use of QR codes is an effective solution in traceability, increasing value and promoting product consumption, especially agricultural products.
Vietnamese pepper prices see strong upward trend

Vietnamese pepper prices see strong upward trend

The Vietnam Pepper and Spice Association has expected pepper prices to continue rising every week.
E-commerce boosts exports of Vietnamese products

E-commerce boosts exports of Vietnamese products

Digital platforms have played a key role in helping Vietnamese firms take their high-quality products to the world, insiders have said.
Increasing the value of rice grains from the project of 1 million hectares of high quality rice

Increasing the value of rice grains from the project of 1 million hectares of high quality rice

VCN - The implementation of the project of 1 million hectares of high-quality rice will contribute to promoting the transition from traditional farming methods to synchronous mechanization, developing large-scale, stable and long-term concentrated raw material areas, ensuring sustainable and effective farming quality and minimizing environmental pollution. Vietnam is also the first country in the world to build a large-scale project on sustainable rice production and reduced emissions.
Hai Phong Port strengthen solutions to improve cargo handling capacity

Hai Phong Port strengthen solutions to improve cargo handling capacity

VCN - The flow of goods passing through Hai Phong port area has tended to improve recently.
Five trends in exporting through e-commerce

Five trends in exporting through e-commerce

VCN - On May 22, 2024, Amazon Global Selling announced the prominent cross-border e-commerce (CBEC) trends shaping Vietnam's online export economy. Concurrently, it launched phase two of the program "CBEC: The breakthrough era" in collaboration with the Vietnam e-Commerce and Digital Economy Agency (iDEA) under the Ministry of Industry and Trade.
Vietnamese firms urged to watch global trade policies

Vietnamese firms urged to watch global trade policies

Experts say Vietnamese firms should keep an eye on global trade moves by major economies to figure out how best to promote the consumption and export of products made in Việt Nam, in the context of a glut of cheap Chinese goods flooding the world market.
Read More

Your care

Latest Most read
Exports in 2024 expects to reach US$370 billion

Exports in 2024 expects to reach US$370 billion

VCN - However, as of May 15, exports still see positive growth.
Imports and exports achieve more than US$270 billion

Imports and exports achieve more than US$270 billion

By mid-May, the country's total import-export turnover reached US$270.82 billion, according to the latest statistics from the General Department of Vietnam Customs.
Coffee output in 2023-2024 crop forecast to fall 20 per cent

Coffee output in 2023-2024 crop forecast to fall 20 per cent

Việt Nam’s coffee output in the 2023–2024 crop year is estimated to decrease by 20 per cent compared to the previous crop year, to 1.47 million tonnes, the lowest in four years.
Pharmaceutical industry sees slowing growth momentum

Pharmaceutical industry sees slowing growth momentum

After record profits and strong growth in 2023, the industry’s momentum faced limitations in 2024 due to rising raw material costs and increased market competition.
Agricultural and food businesses increased profits thanks to export recovery

Agricultural and food businesses increased profits thanks to export recovery

VCN - According to data from the Ministry of Agriculture and Rural Development, agricultural, forestry and fishery export turnover in April reached 5.14 billion USD, an increase of 19.7% compared to April 2023.
Mobile Version