Production of headphones and speakers at Foster Electric Bắc Ninh Co.Ltd, an FDI enterprise in VSIP Bắc Ninh Industrial Zone. — VNA/VNS Photo

By October 20, the northern province of Bắc Ninh granted licences to 308 new foreign direct investment (FDI) projects this year, worth more than US$908 million.

The number of projects increased 3.14 times compared to that recorded in the same period last year, while the amount of capital rose 5.1 times year-on-year.

Meanwhile, 127 projects were given permission for additional capital totalling $471.4 million.

Cumulatively, the province now has 2,075 valid FDI projects with a total registered investment capital of more than $24.6 billion.

The above-mentioned result is attributable to the fact that Bắc Ninh has worked to improve the effectiveness of promotion activities and continues to accompany businesses. The province has promoted external relations with many countries, territories and localities to enhance its reputation.

In particular, Bắc Ninh has given special attention to removing difficulties for production and business of local enterprises and people by establishing a "special working group" and five expert groups to resolve problems and effectively support businesses, cooperatives and business households in the locality.

The province promotes administrative reform and improves the investment environment in areas of its strengths, while giving priority to attracting investment in green and sustainable industrial development.

Also in the reviewed period, Bắc Ninh granted licences for 19 domestic investment projects with total registered capital of VNĐ4.44 trillion ($181.7 million). It also allowed 79 operating projects to raise their capital by VNĐ250.4 billion.

The number of new enterprises established in the province so far this year is 2,897, up 33.8 per cent, with a registered capital of VNĐ27.7 trillion.

The province has 17,919 operating enterprises with a total registered capital of nearly VNĐ349.49 trillion. — VNS