Today: 06/12/2023 02:51:52 (GMT+7)

“Five readies” concept helps Bac Giang welcome large capital flow

BAC GIANG – For recent years, Bac Giang province has given priority to attract big investors who lead and connect with other businesses in a sustainable direction and the concept of "Five readies" in term of premises, human resources, improvement of the investment environment, investor support, effective disease control. 

Thanks to proper policy, the province has attracted dozens of domestic direct investment (DDI) and foreign direct investment (FDI) projects with a record total capital for three years.

Creating industrial land fund

Identifying industry as the main pillar and driving force to boost up the growth, restructure the economy and develop other fields, the Provincial Party Committee (PPC) issued Resolution No. 147-NQ/TU dated July 15, 2021 on industrial development in 2021-2030 period.

Five readies concept, Bac Giang province, large capital flow, big investors, sustainable direction, industrial land fund, investment attraction

Vice Chairman of the provincial People’s Committee Phan The Tuan hands over the Certificate of Investment Registration to two foreign investors to Vietnam Korean Industrial Park and Yen Lu Industrial Park in May 2023.

At the same time, the province developed and implemented Project to improve the efficiency of investment attraction in Bac Giang province till 2030 which stipulated criteria to select the investment projects…

Based on the "Five readies" concept, the province reviewed and included more new industrial parks (IP) and industrial clusters (IC) in the planning; focused on improving the business investment environment; selected and attracted investment, giving priority to projects with sustainable operation. Also, local authority supported and enhanced the quality of business support services, especially in vocational training, human resource supply and administrative procedures.

Since then, all levels of the Party and authorities have focused on implementing drastically and synchronously the tasks and solutions set by the resolution and the scheme.

In fact, creating an industrial land fund and attracting investment are always considered the most important step. Therefore, districts with many IP and IC such as Viet Yen, Hiep Hoa, Lang Giang and Yen Dung have mobilized the whole political system to participate while the local party committees, authorities, mass organizations at district and commune levels held dialogues and communicate to each household.

Timely support

Besides careful premise preparation, the province paid due attention to improving the business investment environment. The PPC Standing Board issued Resolution No. 105-NQ/TU dated April 28, 2021 on improving the business investment environment and raising the provincial competitiveness index for 2021-2025 period.

In 2021, the PPC Standing Board organized a conference to contact and discuss with businesses and entrepreneurs to encourage them as well as listen, share to accompany and remove their difficulties caused by Covid-19 pandemic.

On the basis of the provisions of the Investment Law, the province issued many legal documents to specify the order, procedures, time for settlement then published them so that the enterprises can understand and apply conveniently.

Five readies concept, Bac Giang province, large capital flow, big investors, sustainable direction, industrial land fund, investment attraction

Many factories in Hoa Phu industrial parks (Hiep Hoa district) are completed and put in operation.

To support all projects in difficult time, the province established groups to promote and support investors as well as the special working group to receive and process information reported by enterprises and investors about difficulties and problems. This helped timely support the businesses and investors to successfully implement projects in Bac Giang.

More industrial parks and clusters

Thanks to the good implementation of "Five readies" concept, the investment attraction in the province achieved positive results. For 7 months of this year, the province has attracted a total registered investment capital of 1.55 billion USD, 1.5 times higher than the same period in 2022. The province has granted investment certificates to 47 FDI projects with total registered capital of 1.2 billion USD.

Many FDI projects have quite large scale, mainly in the field of electronic component manufacturing, such as Fukang Technology Factory; JA Solar PV Vietnam photovoltaic cell technology project. Many investors have expanded production in Bac Giang such as JA Solar Investment, Foxconn Singapore Pte.,Ltd, Hana Micron Vina Co., Ltd., Luxshare - ICT Co., Ltd.

According to PPC’s Resolution No. 147-NQ/TU dated July 15, 2021, Bac Giang targeted to have 29 IP and 66 IC by 2030. Since the beginning of the 2020-2025 term, the province has established 2 more IP, expanded two IP with total newly established and expanded area up to 657.3 hectares. Bac Giang has prepared the planning of 22 IP, further completed the proposal to approve for the investment policy for 3 more IP as well as expansion of one IP and incorporation of two IC into the IP.

So far, the whole province has established 8 IP and 54 IC. Six IP have been put into operation. The investment projects in the IP and IC have created jobs for more than 204,000 workers. The industrial production value in 2023 is estimated at more than 506 trillion VND (nearly doubling the figure in 2020).


The Dai
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Five readies concept, Bac Giang province, large capital flow, big investors, sustainable direction, industrial land fund, investment attraction
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