A factory producing materials for making solar panels of the JA Solar Vietnam Co. Ltd, invested by Hong Kong (China), in Quang Chau Industrial Park of Bac Giang province (Photo: VNA)
Hanoi (VNA) – The northern province of Bac Giang isstriving to attract 1 billion USD of new and additional investment capital toboth FDI and domestically invested projects in 2020, said Director of theprovincial Department of Planning and Investment Trinh Huu Thang.
In terms of industry, the province prioritisesattracting investment to the Quang Chau and Hoa Phu industrial parks, alongwith industrial clusters in Bac Giang city and the districts of Viet Yen, YenDung, Luc Nam, Lang Giang, Tan Yen and Hiep Hoa.
It is calling for more projects in mechanics,manufacturing, electronics, electricity production, agro-forestry-foodprocessing, textile-garment, and support industries, the official noted.
In the field of energy, Bac Giang is offeringincentives for investors in thermal power plants in Luc Nam and Son Dongdistricts, clean and renewable energy projects in Yen The and Son Dongdistricts, and solar power projects in the Quang Chau and Hoa Phu industrialparks.
It is working to promote investment in thedevelopment of urban areas, trading centres, high-end hotels, entertainmentservices, and financial, health care and insurance services in Bac Giang city;as well as resort projects in Lang Giang, Luc Ngan and Luc Nam districts, whichboast advantages in this regard.
Meanwhile, the province is also invitinginvestment to tourist sites such as the Suoi Mo tourism area in Luc Nam; theecological and resort tourism areas of Cam Son and Khuon Than lakes in LucNgan; the entertainment, resort and spiritual tourism area on Nham BienMountain in Yen Dung; and golf courses in Luc Nam, Viet Yen, Lang Giang and LucNgan districts.
Thang said it also welcomes more investment toagro-forestry-fishery processing projects that apply high technology, alongwith waste, wastewater and exhaust gas treatment.
To achieve this year’s plan, Bac Giang ispressing on with improving the business and investment climate, reformingadministrative procedures, implementing investment promotion policies,assisting investors and firms in removing obstacles facing their operations,and speeding up licensed projects.
Additionally, it is mobilising resources andpreparing infrastructure, clean land funds and material supply zones to createthe best possible conditions for those intending to do business in theprovince, the department director noted, adding that the province is workinghard to improve local transport infrastructure and accelerate the completion offacilities at industrial parks, especially the Quang Chau, Van Trung and HoaPhu.
Since the beginning of this year, Bac Giang hasapproved in principle and granted investment registration certificates to 17projects, including 10 domestic projects worth 302 billion VND (nearly 13million USD) and seven FDI ones worth 69.5 million USD. Meanwhile, two domesticprojects have had their capital increased by 142 billion VND, and 73.1 millionUSD has been added to six existing FDI projects.
By the end of February, the province hadattracted 263.8 billion VND of domestic capital and 237.4 million USD of FDIcapital in total. The new and additional capital of domestic projects grew1.99-fold while that of FDI investments was equivalent to 60 percent of thefigure in the same period of 2019.
So far this year, the locality has attractedjust one large project which is the CE Link Vietnam No. 02 factory projectworth 49.84 million USD.
Bac Giang is currently home to 1,242domestically invested projects with combined registered capital of over 84.4trillion VND and 451 FDI projects worth over 5.8 billion USD.
In the first two months of 2020, aside from theconsiderable impact of the COVID-19 outbreak, some major projects encountered otherproblems in mobilising capital such as the An Khanh Bac Giang thermal powerplant of the An Khanh Bac Giang JSC; the logistics infrastructure project inBac Giang city of the Bac Giang International Logistics Co. Ltd; and the port,coal processing, mechanical equipment production and medium-density fireboardmanufacturing complex of the Thien Lam Dat JSC./.
