Bac Giang reports fivefold increase in FDI inflows in nearly 9 months

Bac Giang ranks fourth among provinces and cities nationwide in terms of FDI attraction in the January-September period, after Ho Chi Minh City, Hanoi and Hai Phong (Photo: bandanvan.bacgiang.gov.vn)

Bac Giang (VNA) – The northern province of Bac Giang has attracted 70 foreign direct investment (FDI) projects valued at over 1.38 billion USD so far this year to September 15, a fivefold increase compared to the same period last year, according to the provincial People’s Committee. 

The province also lured over 5.46 trillion VND of domestic investment in the period. 

In addition, 24 domestic and 29 FDI projected increased their capital by 1.7 trillion VND and 321 million USD, respectively.

Bac Giang ranked fourth among provinces and cities nationwide in terms of FDI attraction in the January-September period, after Ho Chi Minh City, Hanoi and Hai Phong.

According to Le Anh Duong, chairman of the provincial People’s Committee, this year Bac Giang strives to increase newly registered investment capital by 19% compared to 2022.

To this end, the province will intensify efforts to improve the business investment environment and enhance its competitiveness. It will continue to promote investment attraction and select strategic investors and quality projects in line with requirements and orientations for sustainable development, he said.

The official said that Bac Giang will provide support for businesses in completing investment procedures and their production and business activities.

He stressed that the province will focus on luring investment from countries with high technology and those which are members of multilateral free trade agreements with Vietnam such as the US, European Union, Japan, the Republic of Korea and Singapore.

It will prioritise attracting investment in the digital economy, digital technology, nanotechnology and biological industry, Duong said./.