Bac Giang has always proactively welcomed foreign capital, focusing on improving the investment and business environment to create optimal conditions for enterprises.

Thanks to the benefits of FTAs, Bac Giang has attracted many FDI companies.

The province has implemented trade, investment and tourism promotion programmes, and brand-building initiatives; as well as developed e-commerce to increase business transactions.

It has also collaborated closely with Vietnamese diplomatic missions abroad to work with the business community and relevant agencies to expand export markets, promote trade and tourism, and attract investment.

The province has focused on disseminating knowledge about economic integration, taking advantage of its comparative advantages and making effective use of the FTAs already in place. Many dialogues with businesses have been organized to discuss integration policies, opportunities, and challenges during the integration process.

According to Pham Cong Toan, Deputy Director of the provincial Department of Industry and Trade, international economic integration has provided opportunities for cooperation and investment from foreign enterprises.

Most foreign direct investment (FDI) companies have invested in Bac Giang thanks to the benefits of the FTAs, including reduced conditions for foreign investment, tax incentives from FTA member countries, policies on labour movement, and the import-export of machinery, materials, and goods. As a result, Bac Giang has consistently ranked among the top nationwide in FDI attraction since 2020.

Currently, the province has 560 active FDI projects, with a registered capital of over 11 billion USD. In 2023, the province's export turnover reached 27.4 billion USD, ranking 6th in the country (after Ho Chi Minh City, Bac Ninh, Binh Duong, Thai Nguyen, and Hai Phong). It was the only province in the country with a trade surplus last year.

In the first 10 months of this year, its export turnover exceeded 24 billion USD, a significant increase from the same period last year, with an estimated full-year figure exceeding 33 billion USD. This is an impressive result, making a significant contribution to the province's economic growth.

To support businesses in benefiting from FTAs, Bac Giang is focusing on removing obstacles for businesses and streamlining administrative procedures.

According to the customs sub-department in charge of industrial zones, the unit has regularly reformed administrative procedures and implemented electronic customs clearance. It applies "green lane" customs declarations for companies that comply well with customs regulations.

Accordingly, these companies are exempt from physical inspection of goods, significantly reducing clearance times, toward a fair and transparent business environment.

The province’s authorities have coordinated to provide complete and timely documentation to protect businesses. They continue to grasp production and export challenges faced by businesses, working together to resolve them promptly. Additionally, they support and connect domestic enterprises with multinational corporations and FDI companies to improve their ability to participate in global supply chains.

Alongside these solutions, domestic enterprises need to enhance their production capabilities and increase the competitiveness of their products. They should also proactively familiarize themselves with the regulations of importing countries to comply with technical barriers.

Bac Giang promotes chain linkage in agricultural production

BAC GIANG - To achieve the goal of developing modern, sustainable agriculture and diversifying products, the agricultural sector and localities in Bac Giang province have organized many production linkage models, bringing high economic value.

Bac Giang prioritises high-tech FDI projects, service industry

The northern province of Bac Giang will continue attracting foreign direct investment (FDI) projects in the time ahead, prioritising those using high-tech or relating to supporting industries and high-quality services, local authorities have said.

Bac Giang collects more than 34 billion VND in non-state tax through digital maps

BAC GIANG - To improve the effectiveness of state tax management for business households, implementing the direction of the Ministry of Finance and the General Department of Taxation, this year, the Tax sector of Bac Giang province focuses on applying digital map of business households in the whole province.

Bac Giang city promotes consumption of Vietnamese products

Bac Giang – In response to the campaign "Vietnamese people prioritize Vietnamese goods”, major trading enterprises, business establishments, and convenience stores in Bac Giang city have strengthened their links to distribute many domestically-produced essential consumer products; and organized activities to stimulate shopping demand.

Foxconn to invest 80 million USD in Bac Giang for chip manufacturing

BAC GIANG - Shunsin Vietnam Technology Co., Ltd (Shunsin), a subsidiary of Taiwanese electronics giant Foxconn, is seeking an environmental permit for an 80 million USD investment project in the northern Bac Giang Province, aimed at manufacturing and processing chips.

Bac Giang aims to turn services sector into economic spearhead

BAC GIANG - The Standing Board of the provincial Party recently issued a resolution on developing key services in the 2024-2030 period, which is expected to transform services into a spearhead economic sector and a key driver of the province's socio-economic development.

Bac Giang strives to complete Dong Viet bridge by this December

BAC GIANG - After more than two years of construction, up to now, Dong Viet Bridge in Yen Dung district (Bac Giang province) has achieved more than 98% of the work volume, reported the Provincial Management Board of Traffic and Agricultural Investment and Construction Projects (Project Management Board).