Bac Ninh leads in FDI attraction in two months

Production at Japan's Foster Electric Company in the Vietnam-Singapore Industrial Park (VSIP) Bac Ninh. (Photo: VNA)

Bac Ninh (VNA) – The northern province of Bac Ninh rakedin more than 1.3 billion USD in foreign direct investment (FDI) in the firsttwo months of this year, making it the country’s largest FDI recipient duringthe period, according to the Ministry of Planning and Investment’s ForeignInvestment Agency.

FDI flows into Bac Ninh accounted for 26.5 percent of thecountry’s total and was 7.6 times that of the same periodlast year.

So far this year, the province has licenced 16 new FDIprojects with combined registered capital exceeding 33.8 million USD, saidNguyen Quang Thanh, Deputy Director of the provincial Department of Planningand Investment. The province has also authorised 22 existing projects to addover 1.25 billion USD to their investment, he added.

Most of the additional funding was registered to land indeveloping urban and service infrastructure at the Vietnam-Singapore IndustrialPark (VSIP) Bac Ninh (941 million USD), and building a plant for manufacturing electronic devices, network equipment and multimedia audio products at QueVo Industrial Park (306 million USD), he said.

Bac Ninh is currently home to 1,727 valid FDI projects withtotal registered investment reaching nearly 22.54 billion USD./.

VNA