Bac Ninh rolls out red carpet to welcome US investors
A working delegation of the northern province of Bac Ninh led by Vice Chairman of the provincial People’s Committee Ngo Tan Phuong attended a workshop in Washington DC on April 20 to promote the locality’s investment opportunities to local businesses.
Washington DC (VNA) – A working delegation of the northern provinceof Bac Ninh led by Vice Chairman of the provincial People’s Committee Ngo TanPhuong attended a workshop in Washington DC on April 20 to promote thelocality’s investment opportunities to local businesses.
Speaking at the event, Phuong introduced participants to theprovince’s potential and strengths in attracting investment in general and foreigninvestment in particular.
Bac Ninh has a very convenient geographical position, as itis adjacent to Hanoi capital, and only more than 30 km from the city’s Noi Baiinternational Airport. It also has 12 modern concentrated industrial parks andis focusing on administrative reform, Phuong said.
According to him, despite having the smallest area in Vietnam,Bac Ninh ranked third in the country in terms of foreign investment attraction inthe first quarter of this year, with over 565 million USD.
As of March 20, the northern province had licensed 1,867 FDIprojects totaling more than 23.9 billion USD of businesses from 39 countriesand territories. Of the total, US firms had 19 projects with a combined capitalof 216.6 million USD.
In the coming time, Bac Ninh will pioneer investment promotion activities in the semiconductor field and inaugurate thelargest semiconductor factory in Southeast Asia. It prioritises attractinginvestment in green and hi-tech projects such as batteries for electricvehicles, semiconductors, computer chips, and supporting industries, he added.
At the event, representatives of the delegation and theVietnamese Embassy answered US businesses’ queries on the legal corridor,investment procedures, and the province’s incentives.
Many enterprises showed their interest and hope that theembassy and Bac Ninh authorities will help them connect with Vietnamese firmsfor business and investment cooperation./.
The northern province of Bac Ninh attracted more than 565 million in foreign investment in the first quarter of 2023, ranking third among localities nationwide, according to the provincial People's Committee.
The management board of industrial zones in the northern province of Bac Ninh on April 17 held an investment promotion conference to introduce to enterprises from Taiwan (China) the local business climate as well as policies to attract investors and develop industrial infrastructure.
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The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
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Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
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Illustrative image (Photo: VNA) 
