Bac Ninh attracts over US$12 billion in FDI

12:09 | 02/12/2016 Investment

(VEN) - Bac Ninh Province has attracted 928 FDI projects with total registered capital of more than US$12 billion, ranking seventh among 63 cities and provinces.  

Bac Ninh Department of Planning and Investment Deputy Director Vo Thi Phuong Thao said that in the first nine months of this year, the province granted new investment certificates to 131 FDI projects for total capital of almost US$445.98 million. In addition, 87 projects added more capital with total amount of US$184.07 million.

As a result, total registered and additional capital stood at US$630.05 million, ranking eighth among 54 cities and provinces throughout the country in FDI attraction in the first three quarters of the year.

According to Bac Ninh Institute for Socioeconomic Development Studies Director Nguyen Phuong Bac, FDI projects in Bac Ninh Province were highly appreciated by good quality, thanks to the presence of big corporations and global brands such as Japan’s Canon, the Republic of Korea’s Samsung, the US’ Pepsico, Sweden’s ABB and Italy’s Ariston. In addition, FDI businesses in the province have always executed the law and made large contributions to local socioeconomic development.

Bac Ninh Province’s FDI sector has accounted for 85 percent of the index of industrial production and contributed 99 percent to total export turnover. They have also created jobs for 146,591 workers with an average income of around VND6.5 million per month.

Bac Ninh Province has a favorable geographical location in the key economic region and growth triangle between Hanoi, Hai Phong and Quang Ninh. The province is 30km from the capital, 45km from the Noi Bai International Airport and 110km from Hai Phong port. Together with these advantages, Bac Ninh Province has also good transport system with important routes, creating favorable conditions for FDI businesses to expand investment in the province.

Regarding human resources, the province has 16 universities, collages, vocational schools and many education institutions. With more than 650,000 workers, Bac Ninh can meet the demand of FDI companies. In particular, the province has paid great attention to improving the investment environment through administrative procedure reforms.

Close coordination between departments and agencies is among the province’s major measures to promote the achievements and overcome weaknesses in FDI attraction. In addition, the province has organized regular dialogues with businesses to help resolve their problems, and many large corporations have confirmed their satisfaction about the investment environment in Bac Ninh.

Hoa Chu