Workers of Vietnam Bright International Co in Bac Ninh Province. — VNA/VNS Photo Thai Hung

The northern province of Bac Ninh is seeking investment for 47 projects during the 2021-25 period, according to the provincial People's Committee.

The prioritised projects are in a wide range of sectors such as hi-tech industries, trade, agriculture, urban infrastructure and industrial zone development, health care, education and training.

The projects include a US$20 million electronics manufacturing plant; a $20 million agricultural processing factory; a logistics and port complex, worth $40 million; a 97ha agricultural complex which also comprises a large wholesale market valued at $85 million and construction of the 54ha Cao Duc Van Ninh industrial cluster worth $26 million.

To attract both foreign and domestic investors, Bac Ninh focused on improving business climate prioritising projects which use less land, less labour; have high investment rate, strong budget collection and high technology.

The province licensed 38 new foreign-invested projects worth $260 million over the past four months, according to the provincial news portal.

The province also allowed 26 existing projects to increase their capital by $38 billion.

As of April 20, it was home to 1,658 foreign-invested projects with a combined investment capital of more than $20 billion.

Together with general preferential mechanisms and policies of the State, the province also proposed some initiatives to encourage investment in industrial zones and boost on-the-spot investment promotion through creating images from big foreign businesses, such as Samsung, Canon and Foxcon.

Surrounded by major economic centres such as Ha Noi and Hai Phong, it has managed to establish itself as one of the major FDI destinations. — VNS