The news agency noted that last year, Vietnam enjoyed good results in foreign direct investment (FDI) attraction, and drew hundreds of millions of USD right in the beginning of 2022, which showed the strong confidence of investors, including many giant firms such as Foxconn, Pegatron, Wistron, LEGO and Nike, in the country's economic prospects.

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Sputnik cited statistics from the General Department of Vietnam Customs showing that Vietnam earned a record amount of 57.54 billion USD from exporting telephones and accessories in 2021, a rise of 12.4 percent year on year, and a 25-fold increase from the 2.3 billion USD recorded in 2010.

According to Sputnik, the result was firstly attributable to the Republic of Korea’s Samsung Group, whose revenue accounted for nearly 20 percent of Vietnam’s GDP last year. As of the end of 2021, Samsung had invested 18 billion USD in Vietnam. Currently, more than 50 percent of Samsung’s cell phones are produced in Vietnam. Smart mobile devices manufactured in Vietnam are being exported to 128 countries and territories in the world.

According to Sputnik, experts predicted that Vietnam will become the largest production hub of Nike. The CNBC quoted the world leading sportwear producer's financial report as saying that in 2021, Vietnam produced 51 percent of its global production.

The situation is similar for Adidas, Nike’s rival, with 40 percent of its footwear being made in Vietnam.

Experts held that the number of orders for Vietnam is rising thanks to the strong workforce and low labour cost, along with smooth investment environment, stable political situation, good infrastructure, attractive incentives for investors, and the country’s success in pandemic control, Sputnik highlighted.

The industrial production value hits over 1.5 billion USD

(BGO) – The industrial production value in Bac Giang province (actual value) hit over 35.8 trillion VND (1.5 billion USD) in January 2022, increasing 4.7 percent against the figure last month and 31 percent year on year, reported the Department of Industry and Trade

Bac Giang: Industrial production value up 31 percent in January

(BGO) - In January 2022, the industrial production value (IPV) in Bac Giang province continued quick and stable recovery. Most of the businesses had positive growth, especially big electronic component manufacturers in the industrial parks.

Yen The supports production and sale of livestock products

(BGO) - Livestock products of Yen The district (Bac Giang province) are quite diverse, with hill chickens holding the majority. The 2022 Lunar New Year is approaching, anticipating difficulties caused by the epidemic, from December 2021, the district People's Committee has directed specialized units to actively support the livestock production and sale.

Bac Giang ensures production safety at industrial parks

(BGO) – Amid the complicated development of Covid-19 in many provinces and cities nationwide, the industrial parks (IP) in the northern province of Bac Giang still encounter high risk of infection, especially on the Tet holiday. The local competent agencies and businesses have actively imposed preventive measures to control over the infection.

Bac Giang stands side by side with FDI enterprises to overcome difficulties, maintain production and business

(BGO) - On December 13, the Ministry of Foreign Affair held the 20th National Conference on Local Diplomacy. At the “Investment and commercial cooperation” session, Vice Chairman of Bac Giang provincial People’s Committee (PPC) Phan The Tuan delivered a speech themed “The cooperation of Bac Giang province with investors and foreign direct investment (FDI) enterprises to overcome difficulties, maintain production and business”. Bac Giang Newspapers would like to introduce his speech.

Source: NDO/VNA