Vietnam’s Bac Ninh attracts nearly $1.1bn in new investment
Vietnam’s Bac Ninh attracts nearly $1.1bn in new investment
Bac Ninh Province granted investment registration certificates to 23 businesses with a total capital of nearly US$1.1 billion on Monday, reinforcing its status as the leading industrial hub in northern Vietnam.
Workers at an FDI factory in Bac Ninh Province, northern Vietnam. Photo: Gia Doan |
According to the Bac Ninh Portal, the province also reached a separate investment agreement worth $260 million with another enterprise looking to expand operations.
Notably, seven out of the 14 newly approved domestic projects are in the high-tech sector, reflecting the province's commitment to science, technology, and digital transformation as outlined in the Politburo’s Resolution 57.
The provincial People’s Committee also presented commendations to five companies for their efficient disbursement of nearly $1.2 billion in capital.
Vuong Quoc Tuan, chairman of the provincial administration, expressed appreciation for the businesses' contributions to the province's socio-economic development and enhanced investment attraction.
He highlighted Bac Ninh's continued leadership in industrial production value, its second-place ranking in import-export, and its leading position in the digital economy's contribution to the province’s gross regional domestic product growth.
As of the end of the first quarter, excluding the newly certified projects, Bac Ninh had attracted $2 billion in foreign direct investment.
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| Nguyen Anh Tuan (L, 1st), secretary of the Bac Ninh Provincial Party Committee, and Vuong Quoc Tuan (R, 1st), chairman of the Bac Ninh Provincial People’s Committee, present investment registration certificates and bouquets of flowers to investors at a conference held in Bac Ninh Province, northern Vietnam, March 31, 2025. Photo: Bac Ninh Portal |
The province is committed to fostering a dynamic and innovative investment environment, supporting businesses in hi-tech, digital transformation, and innovation sectors.
This strategy aims to enhance businesses' participation in global value chains, promote green production, and facilitate international integration.
The chairman urged investors to expedite project implementation and maximize capital disbursement to ensure timely operation and efficient project outcomes.
On Sunday, Tuan attended the groundbreaking ceremonies for two hi-tech projects in the VSIP Bac Ninh II Industrial Park, located in the province’s Yen Phong District, with a total investment of over $640 million.
These projects include the Victory Giant Technology Vietnam factory by China’s Victory Giant Technology JSC and a project by Green Precision Manufacturing Vietnam Co., Ltd.
Victory Giant specializes in the research, development, and production of printed circuit boards serving industries like AI, green automotive, aerospace, and medical devices.
Victory Giant’s $520-million project is expected to produce four million square meters of products, with an estimated production value of $900 million, boosting high-precision printed circuit board manufacturing in Vietnam.
Green Precision Manufacturing, with its expertise in precision structural component design and manufacturing, anticipated its factory to be operational by the second quarter of 2026, achieving an annual output of 62 million products valued at approximately $413 million.
- 15:36 01/04/2025
