Update: 09:10 | 03/05/2022
(BGO) – Tapping the available potentials and advantages, well implementing solutions to improve the business and investment environment, Bac Giang province is now attractive destination for many foreign investors. Besides expanded enterprises, several big investors select Bac Giang to execute new projects and open new prosperity for the province to boost up industrial development.
Many FDI projects with huge capital
Dao Xuan Cuong, Head of the provincial Industrial Park Management Board (IPMB) said Hana Micron Vina Plant in Van Trung industrial park (Viet Yen district) is a big investment project of Korean Hana Micron Vina Company Limited in the province to manufacture integrated circuits for cellphone and smart electronic devices.
The production line of New Wing Interconnect Technology Company Limited in Van Trung industrial park.
The project was implemented in 2019 in total area of nearly 25,000 square meters and entered operational stage with total registered capital of 60 million USD. After over one year, in late 2021, Hana Micron Vina Company Limited decided to add more 291 million USD to expand the production, invest in hi-tech production line to increase total investment of the project up to 351 million USD in total area of nearly 66,000 square meters.
Similarly, after operating at Quang Chau and Van Trung industrial parks (Viet Yen district), in late 2020, Luxshare-ICT Vietnam Co.,Ltd added more 84 million USD to expand the production scale, fabricate electronic equipment and component at Quang Chau industrial park with total hired land of over 64,000 square meters and investment capital of 174 million USD.
Bac Giang lures investment under selection with priority taken to projects which are friendly to environment, have advanced and clean technology with modern management, high added value, widespread impact, deep connection to global production and supply chain.
Apart from expanded projects, there is newly invested project to the province such as Fukang Technology Plant of Foxconn Singapore Pte.,Ltd (total registered investment of 453 million USD in Quang Chau industrial park) which is under implementation and put in operation within this year.
Moreover, within the framework of the President Nguyen Xuan Phuc’s official visit to Singapore, Chairman of the provincial People’s Committee Le Anh Duong attended Vietnam – Singapore Business Dialogue and handed over the memorandum of understanding together with certificate of investment to several Singaporean investors with total capital of nearly 3.6 billion USD, including CapitaLand Group (one billion USD), two companies under Mable Tree Group namely Bac Giang Logistic Park 1 Co.,Ltd (Vietnam) (over 47 million USD) and Bac Giang Logistic Park 2 Co.,Ltd (Vietnam) (over 50 million USD).
The projects are scheduled to start this year to contribute to accelerating the provincial industrial development.
Facilitating big project attraction
According to the IPMB, there are 412 investment projects in the industrial parks, including 316 foreign direct investment (FDI) ones with total registered capital of over 6.7 billion USD mostly by Chinese, Hong Kong, Korean, Singaporean investors among others. The operational FDI projects help create job to more than 100,000 labours and contribute about one trillion VND to the budget every year.
Quang Chau industrial park is expanded to lure big investors.
Defining the meaning and importance, recently the provincial People’s Committee has directed to renovate and improve the investment environment to ensure safety, attraction to lure big projects, establish positive and cooperative business and investment environment toward mutual development between the province and strategic investors.
Vice Director of Department of Planning and Investment Nguyen Cuong said to enhance the investment attraction quality, the province persists to sustainable development attraction. Accordingly, Bac Giang lures investment under selection with priority taken to projects which are friendly to environment, have advanced and clean technology with modern management, high added value, widespread impact, deep connection to global production and supply chain.
The investment projects must comply with “two less, three high” criteria, that means using less land and labour, high investment capital, high contribution to budget and high technology.
Together with these above mentioned solution, the province arranges huge capital source to develop the infrastructure of traffic, industrial park and clusters while assisting to conduct site work for projects.
To ensure the land fund to lure big projects, in Bac Giang provincial Planning in the period 2021 – 2030 with the vision to 2050, the province plans to build 29 industrial parks with 7,000 ha of land, 63 industrial clusters with over 3,000 ha of land by 2030.
Recently, local authority has ordered relevant agencies and districts to accelerate land clearance progress for newly established and expanded industrial parks while enhancing to train qualified human resource to timely supply to enterprises who pour money to local projects.