Bac Ninh attracts foreign investors
Bac Ninh attracts foreign investors
The northern province of Bac Ninh has become a magnet for foreign investors thanks to its attractive investment environment and infrastructure system with a series of modern industrial zones (IZs).
In the 2011-15 period, the province attracted more than US$12.1 billion in investment, of which foreign direct investment (FDI) accounted for $10.7 billion. In 2015, Bac Ninh led the nation in investment attraction with a total of over $3.7 billion.
Samsung Display Vietnam Co Ltd decided to increase its investment in the Yen Phong Industrial Zone by $3 billion after pouring $1 billion into the zone a year earlier, raising the total capital Samsung Group has so far invested in the province to $6.5 billion.
After 18 years of development, Bac Ninh's IZs have proven themselves as destinations for global economic giants including Pepsico, Samsung, Canon, ABB and Microsoft.
With 573 businesses, the IZs have made great contributions to increasing local industrial production, exports and competitiveness. From 2011-15, enterprises in the zones created an industrial production value of VND356 trillion ($15.8 billion).
The presence of FDI enterprises in the IZs has turned Bac Ninh into a major manufacturer of mobile phones and electrical products for export. In 2015, the province earned $22.5 billion from exports, ranking second in the country after HCM City.
To support stable and long-term development, Bac Ninh has carried out 12 housing projects for workers, providing accommodation for 59,000 people.
The province plans to prioritise attracting investment in high-tech and environmentally friendly industries, which create added value and help save natural resources towards sustainable development.
