Foreign investment flourishes within better business climate

Foreign investment flourishes within better business climate

On the first working day of 2025, Bắc Ninh province, which leads the way in FDI, granted investment registration certificates and investment approval decisions to 18 domestic and foreign enterprises, with a total registered capital of US$1.8 billion.

At JFE Shoji Steel Hai Phong Co Ltd, a Japanese-invested firm in the Việt Nam - Singapore Industrial Park. VNA/VNS Photo

With an unwavering effort to improve the business environment, the northern localities of Bắc Ninh, Hà Nam and Hải Phòng continued to attract substantial foreign investments in the first quarter of 2025, including those from world-leading economic conglomerates with advanced and environmentally-friendly technologies.

FDI capital surges

On the first working day of 2025, Bắc Ninh province granted investment registration certificates and investment approval decisions to 18 domestic and foreign enterprises, with a total registered capital of US$1.8 billion. Of the total, foreign direct investment (FDI) reached $1.67 billion, fulfilling the province's yearly target.

According to the director of the provincial Department of Finance Nguyễn Việt Hùng, from the outset of the year, the locality’s FDI attraction has increased by 3.9 times in newly registered and additional capital compared to the same period in 2024, keeping Bắc Ninh at the forefront of FDI attraction nationwide.

The province has persistently focused on attracting FDI projects based on the criteria of low land and labour use, a high investment rate and top tier technology, along with high economic efficiency. It is ready with high-quality human resources, administrative reform and problem solving, with no environmental pollution.

As for Hải Phòng, some $4.9 billion in FDI capital was secured last year, up 1.3 times year-on-year, making the port city the second most attractive FDI destination. The city has set a target of attracting $4.5 billion in FDI this year.

Director of the Hải Phòng Economic Zone Authority Lê Trung Kiên reported that since the beginning of the year, the city has enhanced investment promotion in countries with strengths in high-tech industrial development as well as leading global corporations in the domains of electricity, electronics and semiconductor chips.

Multiple cooperation agreements, memoranda of understanding, and investment commitments in existing industrial parks, the southern coastal economic zone, and shaping industrial parks, have been signed, opening positive prospects in the near future.

In the first two months of 2025, the city attracted $278 million in FDI, bringing the total figure to $34.31 billion. Hải Phòng is home to over 1,000 FDI projects from 42 countries and territories, contributing more than 86 per cent of its total export value.

General Director of Pegatron Vietnam Co Ltd Chen Chi Liang said a consistently safe social and business-investment environment is the prerequisite for companies to unceasingly invest in finance, technology and equipment while expanding production scale in Hải Phòng City.

He added that after five years of operation, from a 275,000sq.m factory producing electronic components and semiconductors, the firm has put into use two additional workshops exceeding 384,000sq.m and two more buildings with an area of over 515,000sq.m for further production expansion.

In the meantime, Hà Nam Province is now working to deliver on its target of attracting $1 billion in FDI capital, with 50 per cent of the amount already secured in the first quarter, marking an auspicious beginning towards exceeding the goal. With a vision of developing industrial parks integrated with urban areas and services, and prioritising high-tech, environmentally friendly industries, the province continues to select investors with strong reputation and economic potential.

The province has recently received approval from the Prime Minister Phạm Minh Chính to establish a 663ha high-tech park in Lý Nhân District. It has invested in roads connecting the facility with the Hà Nội-Hải Phòng and Cầu Giẽ-Ninh Bình expressways.

Expanding infrastructure

The localities’ leaders have provided substantive and effective support to promote the development of the FDI business sector.

Secretary of the Hải Phòng Party Committee Lê Tiến Châu emphasised that the city is striving to achieve an economic growth rate of 12.5 per cent, contributing the country’s overall growth target of 8 per cent of higher.

Hải Phòng is now focusing on developing new economic growth drivers, with the 20,000ha southern coastal economic zone, envisioned as a green, multi-sector economic zone meeting international standard. Boasting development pillars in high-tech industry, modern logistics services, smart urban areas, eco-tourism, and new-generation free trade zones, this emerging establishment will enable Hải Phòng to pilot new mechanisms and policies, creating an open and favourable investment environment to attract both domestic and foreign resources.

With a determination to concretise the double-digit economic growth target in 2025, Bắc Ninh Province will continue to strengthen foreign relations and proactively promote investment in potential markets through the end of the year.

Encouraging investment resources in industries and services, with a focus on those with great potential, the province will work with major FDI investors to increase occupancy rates in industrial zones and clusters, ensuring infrastructure readiness for large investment projects.

In Hà Nam Province, the local administration has directed infrastructure development and human resources readiness to attract large investment projects.

Secretary of the Provincial People's Committee and Chairman of the Provincial People’s Committee Trương Quốc Huy ordered departments and sectors to remove bottlenecks for enterprises in a timely manner, particularly site clearance and administrative reform. 

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