Bac Giang holds potential to attract fresh wave of investment
Bac Giang holds potential to attract fresh wave of investment
The presence of global investors has propelled Bac Giang province’s socioeconomic growth and transformed its urban landscape to meet international standards.
Bac Giang has emerged as a prime destination for leading global technology corporations. In 2024, the northern province attracted more than $2.23 billion in investment. This included 29 newly registered domestic projects with total capital of more than VND12.9 trillion ($516 million), up 3.7 times on-year, and 73 foreign direct investment (FDI) projects with more than $507 million.
In terms of FDI, Bac Giang ranks 11th in the country. Foreign-invested projects focus mainly on the fields of manufacturing and processing electronic components, garments, and logistics. More than 30 countries and territories have invested in Bac Giang, including key investors from China, S Korea, Singapore, and Japan.
The province’s investment appeal stems from its well-developed transportation infrastructure, abundant industrial land, streamlined administrative procedures, and a highly skilled workforce, particularly in the electronics and electrical sectors.
The province enjoys a strategic interregional connection through a multimodal transportation network, including roads, railways, and inland waterways.
With its prime location, Bac Giang has the potential to become a key trade hub in northern Vietnam, situated just over 50km from Hanoi, 100km from Haiphong Port, and directly connected to Huu Nghi International Border Gate in Lang Son province via National Highway No.1A.
Bac Giang has been actively investing in key transport projects to enhance connectivity and industrial expansion.
These include Hanoi – Lang Son Expressway and Hanoi Ring Road 5, which is under construction. In addition, the province is upgrading and expanding provincial roads to support industrial and logistics development.
Bac Giang has also been proactive in creating a favourable business and investment environment. The province has facilitated project implementation, expedited land clearance, and encouraged businesses to expand their investments, upgrade production lines, and generate more job opportunities for local workers.
Perspective of Yen Lu Industrial Park in Bac Giang province |
Developing modern industrial parks
With this potential, Bac Giang is steadily affirming its position as one of Vietnam’s leading industrial hubs.
Currently, the province has planned and developed nine industrial parks (IPs), of which eight are operational, covering 2,230 hectares, and 38 industrial clusters spanning over 1,200ha.
Leading global technology corporations such as Hana Micron, Foxconn, Luxshare-ICT, and JA Solar have chosen Bac Giang as their strategic investment destination.
For the 2021-2030 period, Bac Giang continues to expand its investment attraction strategy with plans to develop 29 IPs over 7,000ha.
These IPs are being built with state-of-the-art infrastructure that meets international standards, and integrate a comprehensive service ecosystem, ensuring maximum support for global corporations with stringent operational requirements.
Alongside well-established IPs such as Van Trung and Quang Chau, Bac Giang is also witnessing the emergence of new industrial projects developed by renowned investors with extensive experience.
These include Tien Son – Ninh Son IP (developed by CapitaLand Development), Hoa Phu IP (developed by Phu My Group), and Yen Lu IP expansion (developed by Western Pacific). These projects have contributed to expanding the province’s industrial ecosystem and laid a solid foundation for Bac Giang to become an ideal destination for both domestic and international investors.
Looking ahead, Bac Giang aims to mobilise all available resources to invest in and upgrade socioeconomic infrastructure, effectively enhancing its investment attraction efforts.
The province is committed to helping industrial real estate developers to complete IPs and clusters, while investing in social infrastructure, including housing, healthcare, education, and entertainment facilities.
Additionally, Bac Giang is placing strong emphasis on developing a highly skilled workforce, ensuring it is well-prepared to capitalise on the global shift in investment flows.
