Bac Giang among country’s top performers in multiple economic indicators

Bac Giang (VNA) - Though Bac Giang was a COVID-19 epi-centre when the fourth wave of the pandemic struck the country last year, the northern province has managed to keep the virus at bay and revive the economy with strong determination and action of the local administration and the solidarity among the political system, business community and citizens.

The province was among the country’s best performers in fulfilling the twin goals of placing the COVID-19 under control and boosting the economic development. Its Gross Regional Domestic Products (GRDP) expanded 7.82 percent in 2021, making it one of the 10 cities and provinces posting the highest economic growth.

The size of its economy reached approximately 130 trillion VND (5.68 billion USD). The province raked in a total of nearly 1.6 billion USD in investment, some 83.1 percent of which or 1.33 billion USD was foreign direct investment (FDI), helping Bac Giang to maintain its place among the top 10 FDI recipients of Vietnam.

The province granted investment approvals to 23 new projects with total registered capital of 645 million USD and capital adjustment approvals to 51 projects with additional investments of 686 million USD.

Notably, Fukang Technology Factory, a project with registered capital of 453 million USD, has started phase-1 operation with around 300 million USD disbursed. The phase-2 operation will kick in from the second quarter of 2022 and Phase-3 from the second quarter of 2023. A photovoltaic cell technology project invested by JA Solar Investment (Hong Kong) Limited with registered capital of 200 million USD is set to begin operation in the first quarter of this year.

Foreign trade exceeded 31 billion USD last year, an increase of over 40 percent from 2020, also making Bac Giang one of the country’s 10 largest exporters.

The province has also focused efforts on developing modernised and uniform infrastructure and giving a facelift to both urban and rural areas while accelerating Party building and improving leadership capacity of Party organisations and authorities at all levels.

This year, Bac Giang plans to implement a number of key solutions, said Secretary of the provincial Party Committee Duong Van Thai. The province will pay greater attention to translating into reality its planning for the 2021 – 2030 period with a vision towards 2050, and hasten the agricultural restructuring with a shift to hi-tech and commodity production, Thai noted.

At the same time, it intends to attract large corporations to invest in agriculture and rural development projects and mobilise all possible resources for the construction of roads to provide more space for growth. It will speed up the progress of major projects set out in the mid-term public investment plans for the 2021 – 2025 period and for 2022, he said.

The province has no plans to lower the guard against the coronavirus but is placing the highest priority to combating the pandemic, he emphasized, adding that it will continue to streamline the political apparatus to improve its operational effectiveness and efficiency.

Bac Giang is facing a great opportunity to create breakthroughs, he continued, and it must convert the opportunity into reality.

Accordingly, all-level Party organisations must redouble their efforts in directing the creation of strategic breakthroughs with an aim of enhancing policy institutions and mechanisms, developing infrastructure and improving the human resources.

It will ramp up public administrative reforms, better business environment and enhance competitiveness and these solutions must be viewed as a long-term key task of Bac Giang, he further stated.

The province will also heighten the effectiveness of state governance in all sectors, particularly planning; investment; construction; management of land, natural resources and minerals; environment protection; finance – budgeting; settlement of complaints and forest land disputes; and effective implementation of key Party building tasks, the official said./.