Bac Giang ranks ninth in FDI attraction

Illustrative image (Photo: VNA)

Bac Giang (VNA) – The northern province of Bac Giang ranked ninth among localities nationwide in attracting foreign direct investment (FDI) in the first months of this year.

According to Deputy Director of the provincial Department of Planning and Investment Nguyen Cuong, Bac Giang approved investment intention and licensed 13 FDI projects with total capital of nearly 229 million USD.

In addition, 12 existing FDI projects raised their investment capital by a combined more than 209 million USD.

The total volume of FDI inflow so far this year was equivalent to 94.8 percent of the figure in the same period last year.

The new projects included, the province is home to 464 FDI projects with total capital of over 6.12 billion USD.

Apart from foreign investment, Bac Giang also attracted 34 domestic projects worth more than 3.5 trillion VND (149 million USD) in the past four months.

Despite the impact of the COVID-19 epidemic, the index of industrial production in the first four months of this year of Bac Giang increased by 7.7 percent. However, this is the lowest growth rate for many years.

The provincial administration will continue with measures to tackle difficulties for production and business, particularly enterprises’ access to credit and problems in taxation, trade and electronic payment.

Local departments, agencies and authorities are required to coordinate closely in improving the business and investment environment and the Provincial Competitiveness Index (PCI)./.