Bac Ninh FDI tops $7.83b

Friday, Jul 24, 2015 16:42

Workers at a factory in Bac Ninh. The northern province has attracted a cummulative FDI of US$7.8 billion. — Photo

BAC NINH (Biz Hub) — The cumulative foreign direct investment in the northern province of Bac Ninh was worth US$7.83 billion as of June 20, ranking it ninth out of the country's 63 provinces and cities, the Foreign Investment Agency said.

In an online report on July 23, it said Bac Ninh ranked third out of 11 localities in the Red River Delta.

The manufacturing and processing sector accounted for $7.12 billion or 91 per cent of the FDI, with the property sector ranking second with around $332 million.

Almost all the FDI projects are wholly foreign-invested, with the rest being joint ventures, joint stock companies or business co-operation contracts.

Singapore topped the list of foreign investors, accounting for 35.6 per cent of FDI, followed closely by South Korea with 33.1 per cent and Japan with 10.5 per cent.

Singapore-registered Samsung Electronics' $2.5 billion project is the largest foreign-invested one.

The second largest investment is $1 billion by South Korea's Samsung Display Company Limited. — VNS

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