Bac Giang becomes magnet to investors

(BGO) - With a series of solutions to improve the investment and business environment, Bac Giang province has become a magnet to domestic and foreign investors. Investors register to invest in any industrial land areas whey they are formed. Currently the industrial land fund does not meet the demand.

Investors flock to Bac Giang

Bac Giang has been chosen by many large enterprises and corporations to implement production and business projects. At present, all local industrial parks have been filled, with more than 400 enterprises operating. For many months, Bac Giang has always been in a shortage of industrial land. Many large enterprises wish to invest in industrial parks but infrastructure and essential items for production there are yet completed.

Enterprises invest in developing warehouses in the Quang Chau Industrial Park.

In the 50-hectare Vietnam-Korea Industrial Park, so far the investor has cleared about 48.6 out of 50 hectares and completed the legal procedures on investment, construction, environment, fire prevention and fighting. It is focusing on building infrastructure, especially technical infrastructure.

JA Solar Vietnam Company Limited is building warehouses for its 99 million USD JANE project to produce photovoltaic panels. The project is expected to be completed and put into trial operation in June this year.

Although there is no infrastructure in the Yen Lu Industrial Park, some investors have signed memoranda of understanding to invest in the IP. Of those, Yonz Technology Singapore PTE. Ltd from Singapore has registered to invest in a project to produce solar batteries.

A production line of the JA Solar Vietnam factory. Currently, the company is investing in another project in the Vietnam-Korea Industrial Park.

Currently, a number of businesses are looking to invest in the Tan Hung Industrial Park in Lang Giang district. Notably, China’s Yadea Group has registered to implement a 100 million USD project to build a factory manufacturing and assembling electric motorcycles.

Focusing on site clearance to create industrial land fund

Amid great investor attention, Bac Giang lacks an industrial land fund to attract investment. The main reason for this still lies in difficulties in site clearance. The land clearance progress of most industrial park infrastructure investment projects is slow.

In the first two months of this year, the province attracted more than 830.6 million USD of equivalent investment capital, topping the country. The figure is forecast to increase in the time to come when Bac Giang’s industrial park infrastructure meets the needs of investors. 

The Vietnam-Korea Industrial Park sees accelerated infrastructure construction.

To remove difficulties in investment in industrial park infrastructure, the provincial People's Committee has established a working group to periodically review progress and propose solutions to solve problems.

For established industrial zones, the province will focus on speeding up site clearance and investing in technical infrastructure to ensure completion as scheduled. For industrial zones with investment plans waiting for approval, Bac Giang will continue to coordinate with investors in making and appraising infrastructure projects.

In the long term, the province will continue to deploy construction planning schemes for 15 industrial zones in the prioritized list in the period 2022-2025; review, make and adjust the general urban planning and construction planning schemes of districts, ensuring conformity with the provincial master plan and serving as a basis for the planning of industrial zones.

Concluding the regular meeting in February, Chairman of the provincial People's Committee Le Anh Duong emphasized: "We need a long-term vision to create an industrial land fund. Currently, many investors are looking forward to be allocated land, while there is no land, we must sign a memorandum of understanding with those wishing to invest in Bac Giang. This fact hinders investment attraction to the province. If there is an industrial land fund, the registered investment capital will be much larger than the figure in the first two months of this year. Therefore, agencies at all levels and sectors must urgently review the work, quickly complete procedures for investment and construction, support businesses, and soon create a land fund to attract investment".

Bac Giang rolls out red carpet to welcome investors

(BGO) – Many people in Bac Giang province still remember the October 11, 2003 event that kicked off the construction of Dinh Tram Industrial Park (IP) – the first "red address" to attract investment in local industrial development. However, in order to complete the infrastructure construction and fill this park and the next ones, the province has faced an array of difficulties.

 

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