The northern province of Bac Ninh attracted more than US$565 million in foreign investment over the past three months, ranking third among localities nationwide, according to the provincial People's Committee.

In 2023's first quarter, the province granted licences to 55 new projects, worth $481 million, which doubled the number of projects seen in the same period last year and marked a year-on-year increase of 8.5 times in levels of capital.

It also allowed 31 operating projects to raise their capital by more than $83 million.

Along with foreign-invested projects, the province also licensed six new domestically-funded ones with capital totalling VND1.27 trillion. To date, the locality is home to 1,534 valid domestically-invested projects capitalised at over VND253.8 trillion.

The committee's vice chairman Ngo Tan Phuong said the province would continue to implement solutions to support foreign and domestic businesses.

It would focus on accelerating site clearance, investing in infrastructure constructions of industrial zones and clusters, and fostering investment promotion.

Along with that, the province would develop high-tech industries, and smart manufacturing, and anticipate a new wave of investment in semiconductors and chips; 5G and 6G technology, energy batteries, and ecological agricultural production. —VNS