Bac Ninh secures No.1 position in FDI attraction

In the first eight months of 2024, Bac Ninh province continued to lead the country in attracting FDI capital, with over USD 3.2 billion. Earlier, in the first six months of the year, the province also ranked first with nearly USD 2.58 billion, accounting for nearly 17% of the country’s total investment capital.

From January to August this year, foreign investors poured capital into 54 provinces and cities across the country; and Bac Ninh led with a total registered investment of nearly USD3.47 billion, accounting for 16.9% of the country’s total investment and nearly triple that of the same period last year, Mr. Vuong Quoc Tuan, Chairman of the Bac Ninh Provincial People’s Committee, said.

Earlier, in the first six months of 2024, Bac Ninh was the leading locality in the country in attracting foreign direct investment (FDI). From the beginning of the year to June 20, the total newly registered, adjusted capital, and share purchase capital contributed by foreign investors in Vietnam reached nearly USD 15.2 billion, an increase of 13.1% compared to the same period last year. The implemented capital of foreign investment projects was estimated at approximately USD 10.84 billion, an increase of 8.2% over the same period in 2023.

To date, Bac Ninh has approved 1,586 investment projects from foreign investors, with a total adjusted capital of VND 269.786 trillion. The Bac Ninh Provincial People’s Committee aims to attract approximately USD 7 billion in foreign direct investment (FDI) in 2024. This impressive growth is mainly driven by a significant capital adjustment project worth USD1.07 billion from Amkor Technology Vietnam at the Yen Phong II-C Industrial Park, bringing Amkor’s total investment to USD1.6 billion, with a production capacity of 3,600 million products per year.

To achieve the FDI target of around USD 7 billion in 2024, the province is focusing on administrative reforms, improving the investment environment, upgrading transportation and industrial infrastructure, enhancing the quality of human resources, and strengthening investment promotion.

Bac Ninh has approved 167 investment projects for 2024, with a strategic vision extending to 2030, covering a total land area of approximately 11,638 hectares.

The strong growth of Bac Ninh in attracting FDI is supported by the development of infrastructure, a stable workforce, and efforts to streamline administrative procedures. With this promising project portfolio, Bac Ninh aims to become a dynamic and modern province, positioning itself among the top provinces in the country for both domestic and foreign investment attraction

Source: The World and Vietnam Vietnam Report

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