Business

Bac Giang province attractive to industrial investors

With its potential and advantages in industrial development, the northern province of Bac Giang has been an attractive destination for investors, especially those in industrial sectors such as electronics, food processing, mechanics, chemicals, and construction material production.
Bac Giang province attractive to industrial investors ảnh 1Production at JA Solar Vietnam in Quang Chau IP (Photo: VNA)

Bac Giang (VNA) – With its potential andadvantages in industrial development, the northern province of Bac Giang hasbeen an attractive destination for investors, especially those in industrialsectors such as electronics, food processing, mechanics, chemicals, andconstruction material production.

Among the six existing industrial parks (IP) in theprovince, Quang Chau IP has drawn 18 projects, including two domestically-investedprojects with combined capital of over 1.28 trillion VND (55.3 million USD),and 16 foreign-invested ones worth over 1.75 billion USD.

According to Nguyen Xuan Ngoc, Vice Director of theManagement Board of Bac Giang Industrial Parks, so far, local IPs are housing317 valid investment projects, including 94 domestically-invested projectsworth 7.86 trillion VND (33.53 billion USD) and 223 FDI projects with totalcapital of over 3 billion USD. The IPs have created jobs for about 85,000labourers.

Bac Giang is currently ranking sixth among 63 localitiesnationwide in investment attraction.

However, he pointed out that the greatest problem of theprovince is slow completion of infrastructure system in many industrial parks,along with poor performance of some departments, sectors and localities ininvestment promotion.

Many projects have faced difficulties during itsimplementation, especially in the process of ground clearance and compensation,he added.

Ngoc said that in order to create a clean land fund forinvestors and industrial development, in the future, the province will reviewthe planning of existing IPs and develop new ones in the 2020-2030 period,making Bac Giang a locality with developed industrial sector.

Meanwhile, head of the Office for Management of Enterprisesin IPs of Bac Giang Tran Van Thong said that to deal with difficulties andobstacles facing businesses and investors, the provincial Department of NaturalResources and Environment has proposed the province issue documents to address mattersrelated to coordination among various sectors such as transportation, constructionas well as localities, the IP Management Board and local enterprises.

In the first quarter of 2019, Bac Giang granted licences to30 new projects, including 11 by domestic investors worth over 180 billion VNDand 19 FDI projects with total capital of over 148 million USD.

Currently, Bac Giang is hosting investors from 12 countriesand territories, mostly from Republic of Korea with 218 projects, and China with95 projects and Japan with 22 projects.

Particularly, the locality has drawn eight projects in solarpanel production, which is a promising sector of the province. Businesses inthis field have headed to green production to protect the environment./.
VNA
#Quang Chau IP #Bac Giang #FDI projects #industrial parks in Bac Giang #industrial sector #green production #Bac Giang's IIP #foreign investor in Bac Giang #Vietnam #Vietnam news #Vietnam News Agency Bac Giang
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