Bac Ninh leads country in attracting foreign direct investment
Bac Ninh is the only locality in the country to have recorded FDI exceeding USD3 billion in the first seven months, almost double that of the second-ranking province, Quang Ninh, which attracted USD1.78 billion.
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| During an official visit to the Republic of Korea on July 1, 2024, in Seoul, Bac Ninh leaders awarded an adjusted investment certificate to Amkor Technology Vietnam and signed a Memorandum of Understanding between the Bac Ninh Provincial People's Committee and the Korea Land and Housing Corporation (LH). (Source: bacninh.gov.vn) |
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, have said.
To date, Bac Ninh has approved 1,586 investment projects from foreign investors, with a total adjusted capital of VND269.786 trillion. The Bac Ninh Provincial People's Committee aims to attract approximately USD7 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 USD7 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.
