Spectacular breakthrough in FDI attraction

Update: 14:00 | 05/02/2022

(BGO) – In 2021, Bac Giang attracted total investment of over 1.3 billion USD to the industrial parks which is an impressive figure for such a hard year due to Covid-19 pandemic. 

“Eagles” build nest

In a cool morning, a key meeting was held at second floor in the Office of the provincial People’s Committee (PPC) under the chair of Le Anh Duong, PPC Chairman, which marked a turning point in foreign direct investment (FDI) attraction.

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Chairman of the provincial People’s Committee Le Anh Duong inks cooperative agreement with Korean investor in his visit to Republic of Korea in December 20201.

PPC Chairman said: “By specific actions, Bac Giang has determined to build and create open, transparent and attractive investment and business environment; increase the provincial competitiveness index; create driving force for business investment and development; realize breakthrough in local socio-economic growth. For five years, the province has been rank in top ten localities nationwide with highest FDI attraction. In early 2021, the province is delighted to welcome three big investors of Singapore and Hong Kong (China) to execute four projects with total registered capital of nearly 570 million USD. It affirmed that Bac Giang continues to be attractive and prosperous destination for foreign investors”.

On behalf of the investors receiving certificate at the event, Zhuo Xianhong, General Manager of Foxconn Group in Vietnam shared: “Continuing the successes gained in Bac Giang, the Group decided to invest in one more key project in the province with total investment of 270 million USD in December 2020”.

Gold is tested in fire

In early May 2021, Covid-19 pandemic entered industrial parks with increasing infected cases. The urgent condition forced local authority to deliver a hard decision to stop operation of four industrial parks of Van Trung, Dinh Tram, Quang Chau and Song Khe – Noi Hoang on May 18, 2021 to serve disease prevention and control task.

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The electronic component production line of Fuhong Precision Component Company Limited in Dinh Tram industrial park.

The suspension of four pandemic hit industrial parks created many challenges in FDI attraction. However, the difficult time helped prove high skill, creativeness and determination of the provincial leaders, business as well as the consensus of labours and people to combat the pandemic and recover the production.

Visiting the factory of Foxconn Group in Dinh Tram and Van Trung industrial parks, we saw the model of production and disease prevention supported by the province. It was among the first enterprises to resume operation after one week suspension.

General Manager Zhuo Xianhong cheerfully took us to visit the production factory and canteen for labours. He shared when the Group truly concerned when the province decided to stop operation of companies at the industrial parks because it caused severe impact on global supply chain. Fortunately, Bac Giang province timely prepared scenarios to restrict Covid-19 infection by establishing many inspection teams to strictly controlled over the disease prevention and control at the companies.

“Amid the Covid-19 complicated development, we received great support from Bac Giang province so our group has strong belief in local authority to pour more investment in production expansion,” said Zhuo Xianhong.

Regarding this issue, Permanent Vice Chairman of the provincial People’s Committee Mai Son confirmed that Bac Giang used to be the epicenter but bright spot of economic development due to good disease prevention and control, helping facilitate the enterprises, especially foreign investors in their production and business activities.

Recently, the companies and people at all strata have strongly believed in local authority at all levels in drastically fighting the pandemic and developing the economy.

From proven advantages of the province, the accompany of authorities, belief in business community, Bac Giamg promises to be attractive destination for investors.

Nguyen Thang
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