Bac Ninh takes lead in FDI attraction
Bac Ninh takes lead in FDI attraction
Northern Bac Ninh Province is leading the country in attracting foreign direct investment (FDI), drawing over US$2.6 billion from 14 newly-licensed projects and 48 capital-added projects in 2017’s first quarter.
Bui Hoang Mai, head of the industrial parks (IP) management board of Bac Ninh Province, said Samsung Display Vietnam Co Ltd in February asked for permission to raise investment capital of its project in the Yen Phong IP to $2.5 billion.
The board also granted a new investment certificate to Hanwha Techwin Security Vietnam to implement a project worth $100 million in the Que Vo IP.
Mai said Bac Ninh has focused on developing high-tech and supporting industries. The province has also stepped up efforts to promote the manufacturing industry to increase links between local businesses and FDI enterprises.
Local officials have regularly held meetings with representatives of enterprises to remove difficulties, thus promoting production and improving efficiency of investment attraction into IPs and industrial clusters.
In recent years, Bac Ninh’s investment climate has improved thanks to the province’s efforts to simplify administrative procedures, especially those related to land, construction, labour and customs, thus making it easier for enterprises to effectively operate in the locality.
Till date, the IPs management board has granted 1,093 investment certificates to domestic and foreign-invested projects, with combined registered capital of nearly $15.9 billion.
