Business

Bac Ninh overtakes HCM City to become nation’s FDI champion

As of the end of August, Bac Ninh lured 4.68 billion USD in FDI, as compared to nearly 4.4 billion USD injected to the southern economic hub, which also leverages the FDI magnets of Binh Duong and Ba Ria – Vung Tau.

Bac Ninh has doubled its strength following its merger with Bac Giang, another magnet for foreign investment flows. (Photo: baodautu.vn)
Bac Ninh has doubled its strength following its merger with Bac Giang, another magnet for foreign investment flows. (Photo: baodautu.vn)

Hanoi (VNA) – Following the administrative merger, the northern province of Bac Ninh catapulted to the top of Vietnam's foreign direct investment (FDI) rankings in the first eight months of the year, overtaking Ho Chi Minh City.

While news of Goertek Vina's decision to halt operations at its audio and multimedia products manufacturing plant in Bac Ninh continues to surprise many observers, the company remains one of the province's largest investors to date.

Since entering Vietnam in 2013, China’s Goertek, a manufacturing partners of Apples’ AirPods, has built four factories in Bac Ninh with registered capital of more than 1.3 billion USD. Most recently, it poured additional 130 million USD to its project at Nam Son – Hap Linh Industrial Park, raising its total investment there to 540 million USD.

Goertek Chairman Jiang Bin revealed during meetings with local authorities that the corporation has plans to expand its factories in Vietnam, including Bac Ninh.

Beyond Goertek projects, the province presented investment certificates to China-based Luxshare-ICT’s smart phone production project worth 300 million USD while Foxconn continues investment in the locality.

As of the end of August, Bac Ninh lured 4.68 billion USD in FDI, as compared to nearly 4.4 billion USD injected to the southern economic hub, which also leverages the FDI magnets of Binh Duong and Ba Ria – Vung Tau.

According to the Ministry of Finance’s Foreign Investment Agency, the merger of Bac Ninh and Bac Giang is seen as a strategic move to shape up a close-looped electronic manufacturing chain, spanning from component processing to final product assembly and export.

Already the FDI capital of northern Vietnam with major projects from Samsung, Canon, and Goertek, Bac Ninh has doubled its strength following its merger with Bac Giang, another magnet for global investment flows with commitments from Foxconn, HanaMicron, and Luxshare.

Chairman of the provincial People’s Committee Vuong Quoc Tuan said that the province will continue improving its investment climate, promoting administrative reform, and removing bottlenecks for investors to attract more FDI projects.

Following the mergers, the rankings of FDI capitals have undergone significant changes. Rounding out the top ten included Hanoi (3.8 billion USD), Dong Nai (2.654 billion USD), Hai Phong (1.7 billion USD), Tay Ninh (1.56 billion USD), Ninh Binh (1.533 billion USD), and Hung Yen (nearly 1.4 billion USD)./.

VNA
#Bac Ninh #administrative merger #FDI #Goertek #Foxconn #Bac Giang Bac Ninh
Follow VietnamPlus

Vietnam - New era

Related News

Buildings in Ho Chi Minh City (Photo: VNA)

HCM City expands foreign ownership quotas to attract more FDI

In the long term, greater transparency in project listings, administrative reform, and synchronised infrastructure investment will help position HCM City as a real estate hub in Southeast Asia. The city has the opportunity not only to attract FDI into real estate, but also to expand into finance, asset management, and associated services.

Currently, Dong Nai is home to 31 operational industrial parks, employing more than 584,000 domestic workers and 8,477 foreign employees. (Photo: VNA)

Vietnam rides new FDI wave with ready-built factories

Vietnam continued to shine as an attractive investment destination in the first seven months of 2025, with registered FDI reaching 24.09 billion USD, up 27.3% year on year. Disbursed capital stood at 13.6 billion USD, an increase of 8.4%.

See more

Quang Ninh gives in principle approval to first offshore wind power plant

Quang Ninh gives in principle approval to first offshore wind power plant

Covering an area of 11.95 ha of land and water surface, the project is expected to have a designed capacity of 50 MW and will be implemented in nearshore waters of the Co To special zone. Its key components include wind turbines, a substation, a 110kV transmission line, and related auxiliary facilities.

At Nghi Son 2 thermal power plant in Thanh Hoa province. (Photo: VNA)

Vietnam’s national standards strategy for 2026–2035 approved

The strategy envisions a modern, open standards system welded to international norms, serving as a piece of soft institutional infrastructure, a policy tool and a technical backbone for state governance. It also casts standards as an engine of innovation, digital transformation, green transition and sustainable development.

Shrimp harvesting in Ca Mau province (Photo: VNA)

Vietnamese shrimp sector seeks distinct path in global race

Nguyen Duy Hoa, Deputy Technical Director of Cargill Vietnam, said Vietnam cannot compete with Ecuador on costs nor match India in scale. Instead, the country should focus on value rather than volume or price competition, prioritising quality improvement, technology adoption and value-added products.

Wind turbine No. 3 at the V1-3 site of the Duyen Hai Wind Power Plant in Truong Long Hoa ward, Vinh Long province.(Photo: VNA)

Retail market seen driving double-digit growth

Domestic consumption is being regarded as one of the key drivers for sustaining economic growth. Following the Government’s Resolution No. 88/NQ-CP on promoting the domestic market and stimulating consumption, many retailers have accelerated the expansion of distribution systems, invested in technology and improved supply chains.

Cargo containers are handled at Gemalink International Port, Ho Chi Minh City. (Illustrative photo: VNA)

Government delegation for international economic, trade negotiations established

The delegation is tasked with assisting the Prime Minister in directing ministries, sectors and localities in the negotiation, signing, coordination of ratification and approval, as well as implementation of international treaties and agreements on economic and trade matters involving the Vietnamese State and Government.

Lotte Mart Vietnam is currently distributing around 900 private-label products manufactured in Vietnam under the retailer’s strict quality control. (Photo: VNA)

RoK steps up trade cooperation with Vietnam, Malaysia

The Korean business delegation's trip aims to provide Korean firms with information on import – export trends across the ASEAN region and developments in local markets, while also offering opportunities to explore the latest industry trends and technologies.

An overview of the Vietnam-China Green Industry Cooperation and Exchange Programme held in Beijing.(Photo: VNA)

Vietnam, China boost cooperation in green industry development

The Vietnamese Embassy in China, in coordination with the International Cooperation Centre under China’s National Development and Reform Commission (NDRC), on May 18 organised the Vietnam–China Green Industry Cooperation and Exchange Programme in Beijing to strengthen policy exchanges, share experience, and promote substantive cooperation in green industry amid climate change and growing global environmental challenges.

The infrastructure of Thang Long 3 Industrial Park in Phu Tho province is comprehensive and modern, creating favourable conditions for businesses and investors. (Photo: VNA)

Strong economic conglomerates drive domestic economic growth

In manufacturing, THACO has built one of Southeast Asia’s largest automobile and mechanical engineering ecosystems in Quang Nam province, while VinFast has become Vietnam’s first electric vehicle producer, establishing a major factory in Hai Phong, listing on Nasdaq and expanding into North America, Europe and Southeast Asia.

Producing garments for export to the EU market at TDT Thai Nguyen Garment Company. (Photo: VNA)

Vietnam’s textile industry draws high-tech FDI amid green, smart shift

With export turnover rising steadily in recent years and a target of 50 billion USD by 2026, Vietnam remains among the world’s top three textile exporters. Beyond its traditional appeal as a low-cost manufacturing base, the country is now positioning itself as a strategic hub for high-value and technology-driven investment.

An FDI enterprise invests in factory facilities at Chau Duc Industrial Park, a project spanning approximately 2,290 ha. (Photo: VNA)

Ho Chi Minh City targets next-generation, high-value FDI

The southern economic hub attracted nearly 3.3 billion USD in FDI during the first four months of 2026, marking a sharp year-on-year increase of 227.1%. The total included 539 newly licensed projects with registered capital exceeding 791.8 million USD and 58 existing projects adding 259.3 million USD in supplementary investment.

The VinFast electric vehicle charging station at the CT1 apartment complex of 103 Hospital in Hanoi. (Photo: VNA)

Vietnam accelerates drive to master EV technologies

By the end of 2025, Vietnam had established 28 standards and technical regulations related to charging stations, charging equipment and batteries. The legal framework is expected to be fully completed in the third quarter of 2026.

Duyen Hai Wind Power Plant in Truong Long Hoa ward, Vinh Long province. (Photo: VNA)

Energy sector seen as key pillar for Vietnam’s green, double-digit growth ambitions

Chairman of the Vietnam National Industry-Energy Group (Petrovietnam) Le Ngoc Son said Vietnam’s energy demand will continue rising sharply, creating enormous pressure on power generation investment. To sustain GDP growth of around 10%, electricity demand is expected to increase by 12-15% annually, requiring an additional 7,000-8,000 MW of new capacity each year.

A view of the Lien Chieu Container Port construction project in Da Nang city (Photo: VNA)

Logistics set to drive Vietnam’s rise in global supply chains

Amid sweeping restructuring in global trade driven by digitalisation, green transition and geopolitical shifts, logistics is no longer a back-end function. It is increasingly a decisive factor in economic performance, especially as Vietnam deepens integration into international supply chains. The challenge now extends beyond faster delivery to building a modern and interconnected logistics ecosystem capable of organising supply chains at a regional scale.

Coupang.com, one of the Republic of Korea's leading online retail corporations, has actively cooperated with the Vietnamese Embassy in handling issues related to products and items with wrong information of Vietnam. (Screenshot of the site)

Coordinated efforts help safeguard healthy online marketplaces

As the digital environment continues to evolve rapidly, stronger coordination among authorities, platform operators and user communities is becoming increasingly important to build a healthy cyberspace that respects cultural identity while helping reinforce friendship and mutual understanding among people worldwide.