Nguyen Noi, Deputy Director of the Foreign Investment Agency under the Ministry of Planning and Investment, gave an interview to Bac Giang Newspaper on this issue.

In the overall foreign investment attraction picture of the country, how do you evaluate Bac Giang's results in this work?

As a locality in the northeast region of Vietnam, near Hanoi capital, Bac Giang boasts many advantages in attracting foreign investment. The province has also made some significant achievements in this work. By the end of 2019, Bac Giang had 502 FDI projects with a total registered capital of 5.9 billion USD, ranking 16th out of 63 localities in foreign investment attraction.

A production line at Nichirin Vietnam Co., Ltd. (Quang Chau Industrial Park).

Particularly in 2019, the province had 76 new projects, 35 projects with added capital and 60 projects contributing capital and purchasing shares with a total registered investment capital of 1.1 billion USD, ranking eighth among 61 localities with foreign investment, up 2.16 times and four places compared to 2018 (in 2018 it ranked 12th among 59 localities).

In the first quarter of 2020, the province was affected by the Covid pandemic but its foreign investment attraction was still quite good. This is an impressive result, demonstrating the province's efforts in improving the investment and business environment and investment promotion activities.

With many advantages, I believe that in the future, Bac Giang will achieve even better results in attracting investment if it takes appropriate solutions to promote strengths and overcome existing difficulties.

What are the difficulties and challenges that Bac Giang needs to overcome to grasp new opportunities as well as improve the quality and efficiency of foreign investment attraction?

Although Bac Giang has seen remarkable progress in attracting foreign investment over the past time, there remain limitations that need to be fixed. Many licensed projects see low progress, site clearance in some places still face difficulties, infrastructure for production in industrial zones is not yet complete, and skilled human resources fail to meet requirements...

To solve these problems, it is necessary to have synchronous solutions from supplementing planning schemes and completing infrastructure of industrial zones and clusters to selecting and approving investment projects.

Bac Giang should pay more attention to vocational training, have orientations and encourage the development of high-quality vocational training linkage models to meet immediate and long-term needs.

At the same time, the province also needs to continue improving the investment and business environment, reforming administrative procedures to shorten the time to handle investment procedures, and removing difficulties and obstacles for investment projects in the locality, thereby winning confidence of new investors, as well as encouraging active projects to increase capital and expand investment...

Could you suggest some solutions for Bac Giang’s effective use of resources to attract foreign investment?

In order to attract investment effectively, Bac Giang can study a number of investment promotion solutions such as innovating, perfecting and improving the effectiveness of investment promotion; recruiting and training qualified cadres with good legal knowledge and foreign language skills; and coordinating with central agencies and neighboring localities to create regional links...

Provincial authorities should proactively access large corporations to call for investment in the locality, while establishing a working team supporting major investors led by a provincial leader.

It is necessary for the parallel implementation of investment promotion and trade development activities as creating product distribution channels is the driving force to attract investment projects. The province should prepare infrastructure and clean land funds to introduce to investors...

Bac Giang attracts many domestic investment projects

(BGO) – Thanks to the good implementation of the solutions to improve the investment and business environment in the northern province of Bac Giang, in the first three month, the province drew more than 160 million USD of investment amid the difficulties caused by many factors.

Bac Giang eyes US$1 billion in investment in 2020

The northern province of Bac Giang set a target of attracting US$1 billion in both newly-registered and additional investment in 2020, Director of the provincial Department of Planning and Investment Trinh Huu Thang has said.

Bac Giang attracts 12 investment projects in first two months

(BGO) – In February 2020, Bac Giang province attracted 8 investment projects including 4 domestic projects with total registered capital of over 150 billion VND (6.4 million USD), up 51.5 percent comparing to the same period last year and 4 foreign direct investment (FDI) projects totally worth 53.5 million USD (making 5.3 folds increase).  

Bac Giang attracts and adjusts 16 investment projects

(BGO) – The Department of Planning and Investment has reported that Bac Giang province has attracted and adjusted to add the investment capital to 16 projects since early this year, including 7 domestic projects with total registered capital of 203 billion VND (8.7 million USD) and 5 foreign direct investment (FDI) projects totally worth 54.5 million USD.   

Bac Giang issues 2020 investment promotion programme

(BGO)- The provincial People’s Committee of Bac Giang province issued the Decision No 104/QD-UBND dated 17 February on approval of the province’s programme on investment promotion in 2020. 

Tran Duc