Luring more big projects

As of November 3, 2021, the province attracted over one billion USD of investment capital, representing 94.8 percent year on year. Typically, local authorities granted investment licence to 19 foreign direct investment (FDI) projects with registered capital of 624.9 million USD, doubling last year figure; approved for nine domestic and 38 FDI projects to add capital up to 156.4 bilion VND and 346.19 million USD respectively.

The production line at Suntech Joint Stock Company at Thanh Van industrial cluster in Hiep Hoa district.

Regarding investment attraction result in October 2021, Bac Giang province rank tenth position nationwide, only after the provinces and cities of Long An, Hai Phong, Binh Duong, Can Tho, Quang Ninh, Hanoi, Bac Ninh, Dong Nai and Ho Chi Minh city.

The attracted projects have large scale in the field of industrial production (electronic component manufacturing) with average investment capital of 150 million USD, typically Photoelectric cell technology JA Solar PV Vietnam of JA Solar Investment Limited (Hong Kong, China) with registered capital of 210 million USD; Fukang Technology Factory of Foxconn Singapore PTE LTD with total registered capital of 453 million USD at Quang Chau industrial park (Viet Yen district).

Though Bac Giang has been severely hit by the pandemic, the province has been rank in top leading localities across the nation in term of investment attraction. The result was gained thanks to suitable solutions issued by the local authorities to lure the investment.

In last October, the Standing Board of the provincial Party Committee held first ever meeting to discuss with enterprises which helped provincial leaders acknowledged many opinions to give direction.

Besides, the provincial leaders regularly meet and discuss with ambassadors, international organizations in Vietnam and leaders of big foreign corporations. The provincial People’s Committee directed the departments and sectors to build brief documents on investment promotion with sufficient content and enhance the introduction via various channels.

On the visit to production factories at Quang Chau industrial park, leader from the Ministry of Planning and Investment pressed that Bac Giang urgently built production recovery programme right after suspending the operation of the industrial parks.

Each task was conducted specifically with suitable application to locality such as “three on the spot”, geen lane for workers, recruitment of new labours…which helped the province quickly stablize the production, maintain the growth rate. The experience needs to be popularized and widespread.

Recently, Bac Giang has implemented various synchronous solutions to assist businesses and investors to recover the production, flexibly applied and loosen the regulations and conditions about granting and extending Work Permit to experts at foreign investment companies; directed commercial banks to consider to extend the debt restructuring and paying time depending on the level of impact caused by Covid-19 pandemic.

Changing from “Allowing and licensing” to serving spirit

Bac Giang’s method creates belief of many big corporations to continue expanding investment scale in the province.

The province defined to draw investment to three axles: industry as crucial driving force, agriculture as the background, service as value increase.

After the Bac Giang province Plan in the period 2021 – 2030 with vision to 2050 is approved by the PM, the province will actively create space, orient the development and implement the plan while preparing open list of projects for investment for the enterprises.

The local authority will facilitate the businesses and investors to approach to land source because it is the first step of investment procedure; focus on land clearance at industrial parks and clusters, expedite infrastructure investors to speed up the project schedule to create plane for investors to production and business activities.

Affirming to accompany companies and accelerate investment attraction at the recent conference, Secretary of the provincial Party Committee Duong Van Thai expressed that the province always defines the business development as the major driving force to boost the socio-economic growth.

Bac Giang will highly focus on handle obstacles, develop the infrastructure, enhance the quality of human resources, build open and equa business investment environment; accelerate digital transformation…to bring best services and utilities to the investors.

Particularly, it is a must to sharply change the thinking and cognition from “allowing and licensing” to “serving” the company. All departments, sectors, localities, officials and public servants should join the movement to accompany and assist the firms to remove difficulties toward the shared goal of provincial development.

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