Bac Ninh’s new FDI projects increase more than three-fold

By October 20, the northern province of Bac Ninh granted licences to 308 new foreign direct investment (FDI) projects, worth more than 908 million USD, an increase of 3.14 times compared to the number of projects recorded in the same period last year.
Bac Ninh’s new FDI projects increase more than three-fold
Production of headphones and speakers at Foster Electric Bac Ninh Co.Ltd, a FDI enterprise in VSIP Bac Ninh Industrial Zone (Photo: VNA)

The amount of capital rose 5.1 times year-on-year.

Meanwhile, 127 projects were given permission for capital addition with a total of 471.4 million USD.

Cumulatively, the province now has 2,075 valid FDI projects with a total registered investment capital of more than 24.6 billion USD.

The above-mentioned result is attributable to the fact that Bac Ninh has worked to improve the effectiveness of promotion activities and continue to accompany businesses. The province has promoted external relations with many countries, territories and localities to enhance its reputation.

In particular, Bac Ninh has given special attention to removing difficulties for production and business of local enterprises and people by established a "special working group" and five expert groups to resolve problems and effectively support businesses, cooperatives, and business households in the locality.

The province promotes administrative reform and improves the investment environment in areas of its strengths, while giving priority to attracting investment in green and sustainable industrial development.

Also in the reviewed period, Bac Ninh granted licences for 19 domestic investment projects with total registered capital of 4.44 trillion VND (181.7 million USD). It also allowed 79 operating projects to raise their capital by 250.4 billion VND.

The number of new enterprises established in the province so far this year is 2,897, up 33.8%, with a registered capital of 27.7 trillion VND.

The province has 17,919 operating enterprises with a total registered capital of nearly 349.49 trillion VND.

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(Source: VNA)