Bac Giang exceeds investment plan
Bac Giang exceeds investment plan
The northeastern province of Bac Giang has been proactive and creative in attracting investment in its industrial parks (IPs), especially through on-site investment promotion.
Diverse solutions
Bac Giang Province has nine IPs approved by the Prime Minister for investment with a total planning area of 1,967.5ha. In 2022, the industrial parks attracted 37 new investment projects, including 27 foreign direct investment (FDI) projects, raising the amount of invested capital to US$1.32 billion, equal to 132 percent of the plan assigned by the provincial People's Committee. As of November 25, 2022, Bac Giang Province ranked 9th in the country in terms of attracting FDI.
The Bac Giang Industrial Zones Authority (Bac Giang IZA) has performed synchronous and effective state management tasks, including planning, construction, environmental protection and administrative reform. Specifically, the authority provides regular updates on the progress of projects granted investment certificates and promptly coordinates with relevant agencies to detect and handle projects that violate regulations and the law on investment.
Bac Giang continues to attract strong investment in the local industrial parks |
As for planning, in order to prepare land areas for investors, especially those in the supply chain of global groups operating in Vietnam such as Apple, Samsung and Honda, the authority has urged investors to speed up infrastructure construction for concentrated IPs.
Regarding the construction of technical infrastructure of IPs, the authority has urged investors to complete technical infrastructure of the areas already in operation, as well as guiding investors to follow investment procedures according to regulations.
Van Trung Industrial Park |
Bac Giang IZA also continued to promote administrative reform and improvements of the investment and business environment, ensuring that the administrative procedures under its jurisdiction are transparent, simple and fast in order to create favorable conditions for the investors and enterprises.
Prioritizing advanced technology investment
The authority will also advise the provincial People's Committee on developing criteria for selecting and attracting IP investment, prioritizing projects with advanced, modern and environmentally friendly technologies and improving the quality of investment appraisals in order to select eligible secondary investors.
In order to promote further IP investment, Bac Giang IZA will advise the provincial People's Committee on reviews and assessments of related regulations, mechanisms and policies to ensure compliance with the law and actual circumstances of the province.
It will also seek to improve IP state management efficiency in order to improve its Provincial Competitiveness Index (PCI) rating, intensify IP planning management approved by the PM, advise relevant authorities on investment policies in the Yen Son-Bac Lung IP, Phuc Son IP and the expanded Viet Han IP, and submit them to the PM for approval.
Over the past years, Bac Giang has been an attractive destination for FDI enterprises |
It will urge IP infrastructure investors to speed up technical infrastructure inside the parks, especially public and welfare works for employees and for environmental protection in the IPs.
Bac Giang IZA will also coordinate with localities on issues related to site clearance for construction of IPs according to provincial People's Committee plans, allocate industrial land to attract investment, strengthen coordination to synchronize the infrastructure inside and outside of IPs so as to meet the needs of workers, employees and enterprises in the province.
In addition, it will regularly review and accelerate the implementation of projects approved for investment; provide prompt support to ease difficulties for projects that lag behind schedule and encounter obstacles in investment procedures.
