The northern province of Bac Ninh had attracted 1,102 foreign direct investment (FDI) projects by the end of October with total registered capital of 15.8 billion USD, sixth among the 63 cities and provinces nationwide in FDI attraction.
A production chain in Bac Ninh province (Photo VNA)
Hanoi (VNA) – The northern provinceof Bac Ninh had attracted 1,102 foreign direct investment (FDI) projects by theend of October with total registered capital of 15.8 billion USD, sixth amongthe 63 cities and provinces nationwide in FDI attraction.
According to the provincial Department ofPlanning and Investment, Bac Ninh recorded impressive growth in drawing foreigninvestment with 145 new projects and 103 existing ones with increased capital.
The province came second nationwide after thesouthern economic hub of Ho Chi Minh City with total newly registered andadditional capital of 3.19 billion USD.
Deputy Director of the department Nguyen ThiPhuong Thao said major groups such as Samsung from the Republic of Korea, Nokiafrom Finland, and ABB from Switzerland have invested in the locality.
Among them, Samsung is the biggest overseasinvestor in Bac Ninh. The company was granted an investment license in 2014 andhas increased its capital to 6.5 billion USD, she noted.
The FDI sector made positive contributions tolocal export growth, budget collection, and employment, Thao said, adding thatforeign firms have generated jobs for more than 169,000 workers.
Deputy Director of the Foreign InvestmentDepartment under the Ministry of Planning and Investment Vu Van Chung said BacNinh recognised the local achievements in FDI attraction; however, adding thatthe outcomes have yet to match potential.
He called on local authorities to map outlong-term strategies to lure foreign capital while improving the investmentclimate, administrative procedures, and infrastructure in addition to reforminginvestment promotion activities and developing high-quality humanresources.-VNA
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A production chain in Bac Ninh province (Photo VNA)
