The northern province of Bac Giang aims to set up 23 new industrial parks (IPs), expand five IPs, and merge six industrial clusters into a 6,518 hectare IP, pushing the total number of local IPs to 29 covering 7,840 hectares by 2030.

A goal has also been set for the gross regional domestic product (GRDP) to grow by 19 per cent annually from 2021 to 2030 and for its value to exceed VND652.15 trillion (US$28.3 billion) by 2025, hitting VND2.2 quadrillion by 2030.

Meanwhile, 29 new industrial clusters will be established and three others expanded, covering a total area of 1,853 hectares. By 2030, Bac Giang hopes to house 66 clusters spanning 3,209 hectares.

The local IP development follows a model that consists of an IP and an urban-service area with modern technical and social infrastructure. Prioritised industries include mechanics and manufacturing, farm produce and food processing. Attracting investment, high-quality human resources development, and the transfer and application of new technology are key focal points.

According to the provincial Department of Industry and Trade, to date, Bac Giang has six IPs covering 1,322 hectares. Five of them have become operational. They have attracted 409 projects from domestic and foreign investors worth VND9.4 trillion and nearly $6 billion, respectively.

In 2020, budget collection from the IPs reached over VND2.2 trillion, or 11 per cent of the provincial budget. — VNS