Bac Giang becomes destination for top leading businesses worldwide

Update: 20:46 | 01/11/2022

(BGO) – With proper policy and drastic action, Bac Giang has achieved a lot of results in socio-economic development. From a bottom rank locality, now the province enters the top leading provinces and cities in economic growth rate and industrial development with proud and prominent targets.

Attractive destination for big investors

Dinh Tram was the first “Red address” to attract investment to Bac Giang. After nearly 20 years, the province has constructed 8 industrial parks (IP), 5 of which are almost filled, 3 are under land clearance to lure sub-investors.

Bac Giang province, becomes destination, top leading businesses, proper policy, drastic action, socio-economic development, economic growth rate, proud and prominent targets

Worker at FuHong Precision Component Company Limited in Dinh Tram industrial park at the production line.

Noticably, the IP infrastructure has been much improved in later perid because the province welcomed potential investors and used business capital instead of state budget like previous time.

For consecutive years, Bac Giang has been in top 10 leading provinces and cities in foreign direct investment (FDI) attraction. The province has attracted over 1.1 billion USD for 10 months, over 890 of which is FDI, helping the province rank sixth nationwide.

Several first rate groups and corporation worldwide poured their money to Bac Giang, such as Foxconn and Luxshare which have the largest scale and employ the biggest number of labours in the province.

According to the Department of Industry and Trade, 403 businesses have operated in 5 IP, 232 others in the industrial clusters and more than 10,000 companies outside the industrial parks and clusters.

Top leading nationwide in economic growth

Sharply increasing investment attraction significantly contributed to provincial economic growth. The local Gross Regional Development Product (GRDP) in 2016 – 2020 period hit 13.8 percent per year on average, particularly industry increased 23.2 percent. 

Bac Giang province, becomes destination, top leading businesses, proper policy, drastic action, socio-economic development, economic growth rate, proud and prominent targets

A corner of Van Trung industrial park (Viet Yen district).

In spite of severe impact by Covid-19 pandemic in 2021, the GRDP in Bac Giang rose 7.82 percent, helping the province rank 10th nationwide (industrial development increased 12.7 percent and secured fourth position).

For the first nine months of this year, the GRDP went up nearly 24 percent hence lead the nation. The economic structure was switched to correct orientation with the industrial ratio up to nearly 50 percent (2021) from 7 percent (2000). The enterprises quickly recovered and expanded production and business in post pandemic period.

The party and authority accompany businesses

The enterprises in Bac Giang have created jobs to over 230,000 labours from 61 provinces and cities across the nation, particularly Foxconn Group (over 48,000), and Luxshare Group (over 53,000) among others.

To faciliate business “build nest” in local area, Bac Giang always creates the most favourable condition in all aspects. Toward finalization in direction, the provincial Party Committee (PPC) on May 6, 2016 issued Resolution No.73 about improving the business and investment environment in 2016 – 2020 period. Next, the PPC on April 28, 2021issued Resolution No.105U about improving the business and investment environment and enhancing the provincial competitiveness index in 2021 – 2025 period.

Implementing these Resolution, the PPC and provincial People’s Committee directed leaders of the departments, sectors, agencies, districts and city to raise their responsibility, creativess and innovation in realizing the key tasks to renovate the working manner, leading method; accelerate investment attraction to timely remove difficulties and obstacles so as to create best condition to the companies, investors toward effecitve business and production.

The dialogue and talkshow are regularly held to the business and investor. Monthly, Chairman of the provincial People’s Committee meets and exchanged with enterprises and investors to know the operation situation, difficulties and challenges for timely assistance.

The hotline has been established around the clock since August 1, 2016 to receive reflection and proposals from organizations and individuals relating to investment, business and normal life.

Bac Giang province, becomes destination, top leading businesses, proper policy, drastic action, socio-economic development, economic growth rate, proud and prominent targets

The production line at Alpha Green Tech Company in Hoa Phu industrial park (Hiep Hoa district).

At the same time, the province has actively enhanced discussion with localities in Japan, Republic of Korea and China to seek investment opportunity and promote the trade.

Bac Giang was early established Public Administrative Center to receive and return the results of handling administrative procedures from the departments and sectors as well as supervise and monitor this task to avoid any difficulties and troublesome to pepople and companies.

Thanks to synchrous solutions, drastic engagement from all levels of the party and authority together with high consensus from local people, more and more enterprises have selected Bac Giang as the investment destination. Recently, Bac Giang has welcomed many working delegations from Binh Phuoc, Hau Giang, Tay Ninh and Tuyen Quang among others to research the experience on planning and attracting investment to develop industry and urban in the province.

Tay Ninh exchanges investment attraction experience with Bac Giang
(BGO) - A delegation from the Standing Board of the Tay Ninh provincial Party Committee led by Secretary Nguyen Thanh Tam on October 22 paid a working visit to Bac Giang province to exchange experience in attracting investment in industrial parks and new urban areas.
 
Bac Giang and Tuyen Quang exchange experience of investment attraction
(BGO) - On October 3, the working delegation from Tuyen Quang province led by Nguyen Manh Tuan, Vice Chairman of the provincial People’s Committee visited Bac Giang province to exchange experience of investment attraction. The delegates were welcomed by Le O Pich, Vice Chairman of the Bac Giang provincial People’s Committee.
 
Bac Giang attracts investment capital of over one billion USD
(BGO) – In August, Bac Giang province attracted investment capital of over 49 million USD, representing 67.75 percent of the figure last year. In accumulation, the province has drawn over one billion USD of investment, making up 1.2 fold year on year increase, reported the Department of Planning and Investment.
 
Bac Giang removes difficulties for business, improves investment environment
(BGO) – The Department of Planning and Investment (DoPI) on August 17 held a business dialogue in Bac Giang province to grasp and timely remove the difficulties for the enterprises in conducting production and business, administrative procedure so as to improve the investment environment.
 
Bac Giang lures total investment of 995 million USD
(BGO) – Since early this year, Bac Giang province has attracted total newly and added investment capital of 995 million USD, expanding 1.3 folds year on year, reported local competent sector.
 

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