Today: 27/09/2023 19:38:21 (GMT+7)

Bac Giang leads localities nationwide in FDI attraction

(BGO) – In the first quarter this year, Bac Giang province attracted foreign direct investment (FDI) of over 1.1 billion USD, making it the country’s largest FDI recipient during the period. Such achievement amid general difficulties of the global economy has given the locality more motivation to make breakthroughs, reap new result, and complete the goals of socio-economic development in 2023.

According to the Foreign Investment Agency (Ministry of Planning and Investment), with over 1.1 billion USD, Bac Giang led FDI attraction in Q1.

Bac Giang province, leads localities nationwide, FDI attraction, foreign direct investment, largest FDI recipient, make breakthroughs,  socio-economic development

A corner of Van Trung industrial park in Viet Yen district.

Apart from technology giants like Foxconn, Luxshare…, the province was the destination for green projects such as Yadea Group Holdings to produce electric scooter; Fulian to manufacture electronic component, computer and telecommunication devices or Hainan Longi Green Engergy to produce solar panel.

With the Fulian precision technology factory project of investor Ingrasys (Singapore) Pte.Ltd, the investor targets to produce solar panels with a capacity of 3,500 MW/year.

Yadea Group Holdings (China) registered to invest about 100 million USD to produce, erect and distribute electric scooters with modern and advanced technology. Particularly, the Group also plans to build a Research and Development Center (R&D) in Bac Giang to serve the Southeast Asian market.

After receiving the land, the Group has focused on completing the infrastructure at Tan Hung industrial park to soon put the project into operation. Yadea is the world's leading manufacturer and distributor of electric scooters which serve not only export activities but also the domestic market of Vietnam.

When Yadea’s project comes into operation, it will attract more auxiliary manufacturers to further invest in the province, helping open up opportunities to form a closed electric vehicle production complex in Bac Giang.

Thanks to choosing "good land", many economic groups and large enterprises are increasingly "proliferating and flourishing" with numerous successes in the province, so they constantly expand the investment scale.

Typically, JA Solar Vietnam Company Limited in Quang Chau industrial park now has two operating projects. JAVN project mainly produces silicon wafers and assembles solar panels with total investment of 280 million USD. It has operated stably since. The JAPV project produces photovoltaic panels with total capital of 210 million USD. The project was completed in 2022 and is currently in trial production.

This year, the group has expanded its scale by investing 99 million USD in JANE project in Vietnam Korean Industrial Park to produce photovoltaic panels. As schedule, it will be put into trial operation in June 2023.

It is not obvious that Bac Giang has a special attraction for foreign investors and leads the country as it is today, but this is a process with numerus efforts to improve the investment and business environment.

Bac Giang secured highest ever result in the Provincial Competitiveness Index (PCI) ranking in 2022 with second position nationwide, up 29 places compared to the previous year. The result proved that businesses highly appreciated the local investment environment and high determination to make breakthrough in the province.

Bac Giang province, leads localities nationwide, FDI attraction, foreign direct investment, largest FDI recipient, make breakthroughs,  socio-economic development

The production line at Siflex Company Limited in Quang Chau industrial park.

In operating and directing, provincial leaders are always consistent to create the best conditions and support for investors in accordance with the law while publicly providing information about planning, investment incentive policies, norms and indicators related to investment activities.

During the project implementation, the Provincial People's Committee is ready to assist, guide and promptly solve difficulties and problems for the enterprises and investors. Local authority focuses on prioritizing possible resources to solve tasks so as to accelerate the project execution.

Especially, the provincial leaders often keep close relationships with businesses by listening and exchanging to timely grasp the actual situation, thereby finding a solution.

Bac Giang province targets to attract about 1.3 billion USD in 2023. To realize this goal, the province will continue luring more big investors to local area in the upcoming time.

Trinh Lan
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(BGO)-  In line with developing their production and business, many enterprises especially foreign direct investment (FDI) enterprises have accompanied Bac Giang province in social welfare activities in recent years, particularly joining hands to build great unity houses for needy households.
Bac Giang is the first localities to attract FDI of over 1 billion USD in 2023
(BGO) – In the first three months of 2023, Bac Giang province attracted over 1.1 billion USD of foreign direct invesetment (FDI), accounting for nearly 20.3 percent of total registered investment.
Positive FDI attraction to Bac Giang province
(BGO) - Apart from highest ever economic growth in the history, Bac Giang was one of localities with impressive result of investment attraction in 2022. Particularly, the province secured ninth position nationwide in foreign direct investment (FDI) attraction which helped affirm Bac Giang continues to be attractive destination for investors.
Nearly 693 million USD of registered investment added to FDI projects in Bac Giang
(BGO) – Bac Giang province approved to increase registered capital of 44 foreign direct investment (FDI) projects in 2022 to add nearly 693 million USD, representing 1.7 fold increase year on year.
Positive signs from FDI business
(BGO) – Bac Giang province now houses hundreds of foreign direct investment (FDI) businesses, mostly in the industrial parks. They not only exert every effort in production and business to highly contribute to the provincial budget but also actively participate in social activities toward the community life.

Bac Giang province, leads localities nationwide, FDI attraction, foreign direct investment, largest FDI recipient, make breakthroughs, socio-economic development
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