Today: 23/09/2021 15:55:14 (GMT+7)
THE CENTRAL AGENCY OF THE COMMUNIST PARTY OF VIETNAM BAC GIANG PROVINCE THE VOICE OF THE PARTY, GOVERNMENT AND PEOPLE OF BAC GIANG PROVINCE

Bac Giang ready to welcome new wave of FDI

(BGO) - In 2020 and early this year, the Covid-19 pandemic has developed complicatedly in some countries around the world, affecting the investment environment of many enterprises. Besides doing well pandemic prevention and control, Bac Giang province has been implementing many synchronous solutions in order to catch the "wave" of shifting foreign direct investment (FDI) to the locality.

Attracting many large-scale projects

Over the past time, despite being affected by Covid-19, thanks to measures to curb the pandemic, upgrade transport infrastructure and infrastructure in industrial zones and clusters, and improve the investment environment, the province has continued to be considered an attractive destination, seeing a shift of FDI to the locality. Recently, an opportunity has opened up for Bac Giang, as at Apple's proposal, Foxconn Group, its largest partner specializing in processing products for Apple, plans to move part of the iPad and MacBook production from China to Vietnam. The group is located in Bac Giang and intends to invest in the province in 2021.

Bac Giang, new wave of FDI, foreign direct investment

Vina Solar Technology Company Co., Ltd (Van Trung Industrial Park) is a large-scale enterprise.

Previously, in the second half of last year, some big corporations also chose Bac Giang. Many projects with large investment capital and high technology such as: Shunsin Vietnam Factory, which specializes in manufacturing electronic components; Powerway Vietnam Alloy Materials Factory in Hoa Phu Industrial Park (IZ) manufacturing special alloys for aviation and space industries, with investment capital of 50 million USD; and CE Link Vietnam 2 Factory in Van Trung Industrial Park with investment capital of 50 million USD ... According to the provincial Department of Planning and Investment, last year, the province attracted 32 FDI projects with a total registered capital of more than 363 million USD; approved investment adjustments to 61 FDI projects with an additional capital of more than 537 million USD. The good sign is that although total FDI capital was lower than that of the previous year, Bac Giang still ranked 8th in the country in terms of total investment capital.

Increasing attractiveness

According to experts, Bac Giang is considered to be a locality with an emerging economy. To welcome the new "wave" of investment, the provincial People's Committee has been focusing on improving the business and investment environment comprehensively; prioritizing large-scale, hi-tech and environmentally friendly projects that use less land and labor; developing manufacturing industry, electronics, automation, automobile, and supporting industries. With that orientation, the province has implemented many synchronous solutions and policies such as rolling out the "red carpet" to welcome investors, promoting administrative reform, and improving the business environment in order to maximize support for businesses. The provincial leaders have held regular meetings and dialogues to listen to opinions of businesses; directed departments, agencies, districts and city to actively grasp businesses’ production and business activities as well as review and cut administrative procedures.

The province established the Steering Committee for Investment Support and Enterprise Development led by the Chairman of the provincial People's Committee to promptly solve difficulties and problems facing investors. In 2020, the Chairman of the provincial People's Committee established a special working group to receive and process information and feedback from enterprises about the bad conducts of officials, civil servants and public employees. Nguyen Cuong, Deputy Director of the provincial Department of Planning and Investment, said that in order to create favorable conditions for investors, especially in administrative procedures and access to land, thus reducing time and costs, during the year, the provincial leaders drastically directed the implementation of solutions to improve the provincial Competitiveness Index (PCI) and the District and Department Competitiveness Index (DDCI). This work continues to be carried out by the province in 2021.

In particular, defining convenient transport infrastructure and available "clean" premises as prerequisites to attract investors, the province is focusing on mobilizing and allocating large capital sources to develop transport infrastructure and infrastructure at industrial zones and clusters; supporting ground clearance for key projects in industrial zones and clusters. Currently, the province has six industrial zones, five of which have become operational. In addition, it was allowed by the Prime Minister to conduct procedures for the establishment of two other industrial zones, Yen Lu and Bac Lung, on a total area of 1,395 hectares.

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Minh Linh

Bac Giang, new wave of FDI, foreign direct investment
 
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