Bac Giang strives for $1.3 billion worth of investment in 2021

Wednesday, Mar 10, 2021 08:53

Hoa Phu Industrial Zone in the northern province of Bac Giang. — Photo

The northern province of Bac Giang is working hard to complete the target of attracting about US$1.3 billion worth of investment this year, said Chairman of the provincial People’s Committee Le Anh Duong.

Duong said that in the area of industry, the province would prioritise projects with a high proportion of high, new, green and economical technology, using domestic materials and having commitment in technology transfer and labour training.

The province has designed particular areas for projects in different fields, including industry, agriculture, tourism, services, urban areas, logistics, entertainment and healthcare.

The province will attract investment in the electronics industry in industrial zones and clusters in districts of Viet Yen, Tan Yen, Hiep Hoa, Yen Dung, Lang Giang and Bac Giang city.

The province will attract textile and garment investment projects in Hiep Hoa and Yen Dung industrial zones and clusters; processing agricultural, forestry and food projects will be concentrated in the districts of Luc Ngan, Luc Nam, and Hiep Hoa.

For foreign-invested projects, Bac Giang will strive to lure partners which have global trademarks with high financial capacity, long-term operation, and projects in supporting industries.

For domestically-invested projects, the province will call for investment from businesses in the list of 500 largest firms of Viet Nam (VN500), especially in areas of agriculture, trade and services.

Nguyen Cuong, deputy director of the provincial Department of Planning and Investment, said that Bac Giang attracted over $588 million in investment in the first two months of this year, 4.5 times higher than in the same period last year.

Notably, the province granted investment licences to a number of large projects, including $270-million Fukang Technology Factory invested by Foxconn Singapore PTE Ltd, and a $210 million Ja Solar PV Viet Nam project funded by Ja Solar Investment (Hong Kong) Limited.

Recently, the Prime Minister has agreed to build three industrial parks and expand three other IPs in Bac Giang province.

In 2020, Bac Giang granted new licences and permitted additional investment to 215 projects with total investment of nearly $1.4 billion last year, up 7.3 per cent year on year, rising to ninth position among provinces and cities nationwide in FDI attraction. — VNS

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