09:26 | 07/01/2016 Investment
The northern province of Bac Ninh has become a magnet for foreign investors thanks to its attractive investment environment and synchronous infrastructure system with a series of modern industrial zones (IZ).
A mobile phone production line of Samsung Electronics Vietnam (Source: VNA)
In the 2011-2015 period, the province attracted more than 12.13 billion USD in investment, of which foreign direct investment (FDI) was 10.74 billion USD. In 2015, Bac Ninh led the nation in investment attraction with a total of over 3.68 billion USD.
Notably, the Samsung Display Vietnam Co. Ltd decided to increase its investment in the Yen Phong Industrial Zone by 3 billion USD after pouring 1 billion USD into the zone one year earlier, raising the total capital the Republic of Korea’s Samsung Group has so far invested in the province to 6.5 billion USD.
After 18 years of development, Bac Ninh’s industrial zones have proven themselves as destinations for global economic giants including Pepsico, Samsung, Canon, ABB, and Microsoft.
With 573 operating businesses, the IZs have made great contributions to increasing the local industrial production, export and competitiveness. From 2011-2015, enterprises in the zones created an industrial production value of 356 trillion VND (15.8 billion USD) and an export value of nearly 17.4 billion USD per year.
The presence of FDI enterprises in the IZs has turned Bac Ninh into a major manufacture of mobile phone and electronic products for export. In 2015, the province earned 22.5 billion USD from exports, ranking second in the country after Ho Chi Minh City.
To support businesses’ stable and long-term development, Bac Ninh has carried out 12 housing projects for workers, providing accommodations for 59,000 people.
In the coming time, the locality will prioritise attracting investment in high-tech and environmentally friendly industries, which create added value and help save natural resources towards sustainable development./.