According to the General Statistics Office, in the first quarter of this year, the gross regional domestic product (GRDP) rate of Bac Giang province reached 14.18%, leading the country.

Electric motorbike production at YADEA Technology Company Limited (Quang Chau Industrial Park).

Industry remained its main growth driver. Many businesses and multinational corporations recovered, expanded production scale and markets, and signed new orders, contributing to increasing the value of the province’s industrial production in the first three months of 2024 to more than 153 trillion VND (6.04 million USD), up 24.9% over the same period last year.

Among them are enterprises with foreign direct investment (FDI) such as Luxshare - ICT Vietnam Company Limited (Quang Chau Industrial Park); Luxshare - ICT Van Trung Co., Ltd. (Van Trung Industrial Park), and JA Solar Vietnam Co., Ltd. (Quang Chau Industrial Park).

A new point, the sector that helped Bac Giang maintain its economic growth momentum at a high level was electronics - the core of industrial production, which grew strongly right in the first quarter instead of in the third and fourth quarters like previous years.

Many new orders from large enterprises boosted exports, resulting in better Q1 economic development than the same period in previous years.

From 2017 to 2023, Bac Giang maintained double-digit growth, reaching 14.3% on average. Its 2023 economic size was 2.4 times higher than in 2017, and ranked 12th out of 63 provinces and cities.

Continuous growth over the years and at high levels showed that the solutions implemented by Bac Giang have been effective. In economic development, the province has mobilised all potential, advantages and resources, especially for industrial and infrastructure development.

Throughout the process of economic development, industry has made breakthroughs, affirming its main role in promoting growth.

Determining rapid industry-construction development, with industry as the pillar and the main driving force to promote growth, economic restructuring and other fields, the provincial Party Committee has issued Resolution No. 147-NQ/TU dated July 15, 2021 on industrial development in Bac Giang province for the 2021-2030 period.

The Party delegation to the provincial People's Committee has also directed the provincial People's Committee to focus on improving the business and investment environment to increase investment attraction.

Speakers and economic experts discuss at the 2024 investment outlook conference organised by the provincial Department of Planning and Investment.

With high focus and determination in leadership and direction, the province's business and investment environment is becoming more open and attractive. Its Provincial Competitiveness Index (PCI) and the Public Administration Reform Index (PAR Index) have been always among the top in the country.

FDI attraction has been on the rise, reaching a record level of more than 3 billion USD in 2023. Newly established businesses are increasing. Bac Giang has been creative in implementing the "Friendly Administration" model and a number of creative administrative reform models such as "Friday without an appointment" and "Sunday for the people".

The planning work has been highly focused to attract investment resources. Bac Giang has diversified channels to receive information and interact between people, businesses and state agencies.

The province has implemented a number of new ways to support and remove difficulties for investors and businesses with the motto "all difficulties and obstacles must have solutions and must be resolved promptly".

Trinh Lan