Therefore, its foreign affairs and international integration need to be enhanced, with increased proactivity, expanded partnerships, and a broader range of fields to help create resources for socio-economic development.

Director of the Department of Industry and Trade Tran Quang Tan presents flowers to a visiting delegation from the Department of Commerce of Yunnan province (China) in June 2024.

Attracting significant investment

With specific plans in place and favourable geographical location, development potential, and international cooperation in industry, agriculture, and services, as well as remarkable economic growth in recent years, Bac Giang is in an advantageous phase to expand international cooperation and establish formal partnerships with foreign partners and localities.

Bac Giang has become an attractive destination for many investors, both domestic and international. In particular, the provincial leadership, the provincial Industrial Parks Management Board, the Department of Planning and Investment, the Department of Industry and Trade, and other relevant agencies maintain regular contact with businesses.

Every year, many meetings and dialogues are held with businesses and cooperatives in the province to promptly capture their actual situation and share difficulties facing them related to land clearance, electricity supply, workforce training, digital transformation, and environmental issues, for timely solutions.

In the first 10 months of this year, Bac Giang attracted over 1.8 billion USD in total investment, with 21 new domestic direct investment (DDI) projects and 63 foreign direct investment (FDI) ones.

The province also approved adjustments to 20 DDI projects, with an additional registered capital of over 2.7 trillion VND, and 58 FDI projects, with a total capital increase of over 754.3 million USD.

The province saw the establishment of 1,676 new businesses, with a total registered capital of over 12.9 trillion VND. These businesses have created new jobs and income for tens of thousands of workers, contributing to Bac Giang’s rapid and stable socio-economic development.

Strengthening cooperation

These achievements are partly attributed to the efforts of the provincial Department of Industry and Trade, which has actively advised the provincial People's Committee on numerous cooperation initiatives to effectively implement economic diplomacy.

Automation mechanical products for export at Automech Mechanical Equipment and Solutions Joint Stock Company in the Dinh Tram Industrial Park (Viet Yen township).

The department has carried out cooperation activities in line with the plans outlined in memorandums of understanding (MoUs) with neighbouring localities such as Lang Son, Bac Ninh, Thai Nguyen, Quang Ninh, Hai Phong, and Hai Duong.

This year, it proposed plans to implement a MoU with the government of Nanning city, Guangxi province of China.

In addition to cooperating with Chinese localities and participating in investment promotion conferences with businesses from other countries, on October 16, 2024, the department's leadership, together with provincial leaders and representatives of relevant agencies, attended a business networking event hosted by Chungcheongnam-do province and Daejeon Broadcasting Corporation of the Republic of Korea in Hanoi.

The event aimed to connect businesses from Chungcheongnam-do with the Vietnamese market to explore investment opportunities.

A representative of the department stated that as a member of the provincial Steering Committee for International Integration, the department will continue to work with other departments, localities, and agencies to advise the provincial People's Committee on the full and timely implementation of the Party's guidelines and the State's policies on international economic integration.

The agency will continue to accompany businesses, creating favourable conditions for local economic sectors to expand markets, connect, and participate more deeply in the global value chain through exhibitions and trade fairs.

At the same time, it will strengthen legal guidance and support for businesses during the investment, production, and business processes, ensuring compliance with the law and commitments under the FTAs.

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