Amid many uncertainties in the world and regional situation this year, the province has gained positive results in investment attraction, especially FDI. For the first 11 months of this year, Bac Giang has attracted total investment of over 3.2 billion USD, 3.2 times higher than the same period in 2022 (the highest ever).

Fuhong Precision Component Co., Ltd. is one of the enterprises with high industrial production value.

In terms of FDI attraction, the province ranked 4th in the country, after Quang Ninh province, Ho Chi Minh City and Hai Phong city. Most of FDI projects are in the fields of manufacturing, processing electronic components, garments...

Particularly, the province has issued new investment registration certificates for 89 FDI projects with registered capital of more than 1.53 billion USD, 3.47 times higher than the same period last year; adjusted to increase capital for 48 FDI projects with additional capital of nearly 1.4 billion USD, nearly 2.2 folds increase.

According to Tran Quang Tan, Director of the Department of Industry and Trade, FDI enterprises operating in the area have made great contributions to the province's industrial production value. This year, the province continues to be a bright spot in the national growth picture, estimated at 13.45 percent and ranking first in the country.

Most of the enterprises with high industrial production value are in industrial parks, typically: Luxshare - ICT Co., Ltd. (Van Trung Industrial Park and Quang Chau Industrial Park); New Wing Interconnect Technology Company Limited (Van Trung Industrial Park); Siflex Company Limited (Quang Chau Industrial Park); Fuyu Company Limited belongs to Hong Hai Science and Technology Group (Quang Chau Industrial Park); Fuhong Precision Component Co., Ltd. (Dinh Tram Industrial Park)...

Notably, Luxshare - ICT Co., Ltd. this year has an industrial production value of nearly 159 trillion VND, up nearly 60 trillion VND. The company creates jobs for tens of thousands of workers and makes high contributions to the state budget.

To achieve the above results, in recent years, Bac Giang province has synchronously implemented many solutions to lure the capital flow. The province refuses to attract investment at all costs but focuses on selecting projects with the motto "Three less, three high" (less land, less labor, less environmental pollution and high investment rate, high technology, high budget contribution).

Accordingly, the province strengthened measures to improve the business investment environment, enhanced provincial competitiveness and created favorable conditions for businesses in resolving administrative procedures related to investment.

Currently, Bac Giang is maintaining the "5 on-the-spot" model in proceeding administrative procedures, supporting digital transformation for businesses, and handling administrative procedures on online public services.

The Department of Natural Resources and Environment handles administrative procedures for businesses at the province's Public Administration Service Center.

At several meetings of the Provincial People's Committee (PPC), the PPC Chairman Le Anh Duong emphasized that promoting investment attraction will contribute to promoting the province's economic growth.

The province required relevant sectors to focus on supporting companies during investment procedures, production and business; guiding them to strictly comply with legal regulations on investment, construction, labor, environment, food safety, fire prevention and fighting....

At the same time, local authority promoted the role of the working group to review, control, inspect the investment projects.

The province paid due attention to innovating investment promotion activities, focusing on attracting major partners to invest in the fields of software technology, semiconductors, etc.

Also, departments, branches and localities are required to regularly improve the sense of responsibility, spirit and attitude to serve the people and businesses.

Hanoi ranks third in FDI attraction in ten months

Hanoi attracted over 2.6 billion USD in foreign direct investment (FDI) in the first ten months of this year, which made it the third largest destination of FDI in the country during the period, Deputy Director of the city’s Department of Planning and Investment Nguyen Ngoc Tu said on November 14.

Bac Giang’s 10-month FDI attraction over 5 times higher than 2022 same period

BAC GIANG - In the first 10 months of 2023, Bac Giang province attracted 81 foreign direct investment (FDI) projects with a total registered capital of more than 1.5 billion USD, 5.2 times higher than the same period last year, according to the provincial People’s Committee.

Newly-registered FDI at 25.7 billion USD in 10M

Total newly-registered investment capital, additional capital, contributed capital for share purchases, and contributed capital from foreign investors totaled 25.762 billion USD in the first 10 months of 2023, an increase of 14.7% over the same period of 2022 and the highest increase since the beginning of this year.

Newly registered FDI surges 54% in 10 months

Over $15.29 billion was channeled into 2,608 new foreign direct investment (FDI) projects as of October 20, respectively up 54% and 66.1% year on year, statistics showed.

Firms hold chances to boost supporting industries amid FDI inflows

As Vietnam is emerging as a magnet for foreign businesses, domestic companies now have numerous opportunities to join global supply chains and develop supporting industries.