Positive sign from the foreign investment attraction
15:11 28/02/2023
With the advantage of strategic position, low production costs, dynamic human resources, open investment policy, especially becoming an important global production base of a series of leading electronic corporations in the world, Bac Ninh is attracting more and more attention from foreign investors. In the early Spring days of the Year of the Cat, Bac Ninh province has received a lot of good news about the investment attraction, which is reflected in many promotion, negotiation, exchange and signing activities between the provincial leaders, infrastructure companies and the corporations for building production plants in Bac Ninh industrial zones.

Although January coincided with the Lunar New Year holiday, the number of new projects and registered capital in Bac Ninh suddenly increased, 2.5 times higher than the number of newly registered projects and 61 times for newly registered capital. This is a positive sign in attracting FDI in the first month of 2023. Specifically, the whole province attracted 20 newly registered FDI projects (up 12 projects) compared to the same period last year, the newly registered capital reached 123.1 million USD (up 121.1 million USD). In which, there are 3 typical projects: project of Korea invests in the transportation, warehouse and yard industry with the investment capital of 21.1 million USD; project of Italy invests in the medical instrument manufacturing industry with a capital of 30 million USD and project of Singapore invests in the logistics industry with a capital of 40.4 million USD. In addition, there are 16 projects with adjusted capital, with the adjusted capital increased by 69.3 million USD, (up 61.1 million USD over the same period).

Especially in the early days of February, a series of investment promotion events took place between the provincial leaders and the foreign investors. It was the Memorandum of Understanding Signing Ceremony on sublease of 62.7 hectares of land in Nam Son - Hap Linh Industrial Park between Goertek Corporation and Kinh Bac City Development Holding Corporation to implement the 3rd project in Bac Ninh specializing in manufacturing consumer electronic products, communication equipment, optical equipment and instruments...with an estimated registered capital of about 300 million USD. After 10 years of investment in Bac Ninh, up to now, Goertek Corporation has developed 2 projects with the total registered investment capital of 625 million USD, including: Goertek Vina Co., Ltd (60 million USD) and Goertek Vina Science and Technology Co., Ltd. (565 million USD). In which, the project of Goertek Vina Science and Technology Co., Ltd. had an starting investment capital of only 260 million USD in 2019 and 3 years later (2022) continues to increase capital to expand investment in Bac Ninh by 305 million USD.

The provincial leaders congratulated and witnessed Goertek Corporation and Kinh Bac City Development Holding Corporation signing the memorandum of understanding on land lease.

Mr. Jiang Long, Chairman of the Board of Directors of Goertek Corporation, highly appreciated the investment environment of the province as well as the support policies and coordination to solve problems for the investors at all levels of the local government, which has strengthened the confidence of the enterprises with the province. This is the basis for Goertek Corporation to make the decision to build the third factory in Nam Son - Hap Linh Industrial Park. Affirming the best efforts, focusing all resources for long-term development in Bac Ninh, committed to develop Goertek Vina to become the Corporation’s technology center, localize the labor resources, and increase the Vietnamese labor rate to undertake great responsibilities in the enterprise, strive to successfully complete the goals set by the Corporation in the next period, contribute to the overall development of the Corporation as well as Bac Ninh province.

In addition, there were also the negotiation and investment promotion events of the province with many other foreign investors such as: Signing with Vietnam Posts and Telecommunications Group to implement the cooperation agreement for the period 2023 - 2025; DSBJ Group manufacturing electronic components came to learn and will invest in Bac Ninh province in the near future, with an expected capital of 300 million USD, this is a Group with large revenue (reached more than 4 billion USD in 2021); Landel Energy (Korea) Co., Ltd. came to learn about the investment environment of the province and implemented a pilot installation of street lighting system using circulating energy at Huu Nghi Park (Bac Ninh city). The company has a long-term development orientation in Bac Ninh to provide high-tech products such as: electric cars; aviation industry, unmanned taxi... with a revenue target of about 100,000 billion by 2028.

According to the Chairwoman of the Provincial People’s Committee Nguyen Huong Giang, these activities are really good news for Bac Ninh in the first days of the new year 2023, creating a good start. With a series of events of negotiation, investment promotion, signing memorandum of understanding on land lease, etc., it is an evidence for the favorable investment environment of Bac Ninh province that has helped the enterprises not only to stabilize the production but also to develop continuously. Bac Ninh’s choice in attracting FDI at this time is directed to the green technology, smart technology projects, which have a pervasion to the implementation of the sustainable development strategy. Therefore, the province is focusing on solving issues that are of attention to the investors, especially the investors’ interests to achieve the goal of success of both sides by promoting propaganda on outstanding comparative advantages such as geo-strategic position, synchronously invested socio-economic infrastructure and centralized administrative reform.

To attract the strategic nuclear investors, the province continues to develop and accomplish the investment attraction mechanisms and policies; complete the provincial planning and related planning; publicity, transparency and facilitate access to information in the fastest and most convenient way for the investors; ready for human resources. Speed up the site clearance progress, invest in completing the technical infrastructure of VSIP2, Yen Phong 2A; Yen Phong 2C, Thuan Thanh I, Gia Binh, Gia Binh II industrial parks, industrial complexes as planned. Focus on supporting the connection, association and cooperation between the province’s enterprises and FDI enterprises to gradually join the global chain; strengthen the investment promotion on the spot, attract investment selectively, take quality, efficiency, technology and environmental protection factors as priority criteria; improve the investment environment, improve the efficiency of project management activities after investment.


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