Industrial zones in the northern province of Bac Ninh are targeting the attraction of approximately 100 foreign direct investment (FDI) projects this year, with total capital for new and existing projects expected to reach 1.2 billion USD.
An electronic circuit board inspection line at a Korean enterprise in Yen Phong Industrial Zone, Bac Ninh province. (Photo: VNA)
Bac Ninh (VNA) – 🎶Industrial zones in the northern province of Bac Ninh are targeting the attraction of approximately 100 foreign direct investment (FDI) projects this year, with total capital for new and existing projects expected to reach 1.2 billion USD.
As heard at a 2024 review and 2025 task deployment conference held on January 2 afternoon, this year, the Bac Ninh Industrial Zone Authority (IZA) will coordinate with relevant departments and agencies to prepare zoning plans for five new industrial parks (IPs) and adjust the location of one existing park as part of the province's master plan. Additionally, investment promotion programmes abroad are set to be conducted in target markets.
Vice Chairman of the provincial People’s Committee Le Xuan Loi asked the local IZA to work toward the implementation of new IPs, particularly accelerating land clearance, improving construction quality management, and ensuring workplace safety. Administrative reforms, better competitiveness index, and effective post-investment management are also critical priorities, he added.
Last year, local IPs attracted over 4.1 billion USD worth of investments, 242% higher than the target. Of this, FDI accounted for over 3.6 billion USD, while domestic investment amounted to approximately 417.4 million USD.
To date, the Bac Ninh IZA has granted licenses for 2,118 projects from 39 countries and territories, with their cumulative funds exceeding 29.3 billion USD.
Approximately 1,300 projects are now operational across local IPs, contributing over 80% of the province’s industrial output. The occupancy rate for industrial land under the approved plan exceeds 62%./.
Bac Ninh province continued topping the nation for foreign direct investment (FDI) influx with a total of over 4.2 billion USD during January-September on the back of its sound investment climate, modern infrastructure, and abundant labour force.
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