With total additional and registered capital of 1,365 million VND in the first 9 months in 2014, the northern province of Bac Ninh is ranked the top of the provinces that attracts FDI in the country, the Vietnam Business Forum Magazine (VBF) reported.

In September 2014, the Bac Ninh province licensed 21 new FDI projects with total registered capital of 16.91 million USD and granted certificates to 19 projects with adjusted investment.

As of the end of September 2014, the Bac Ninh province granted the investment certificates to 608 FDI projects, among which the most important project is Sam Sung that was licensed in July with a total investment of 1 billion USD. As such, Bac Ninh has emerged as an attractive destination for FDI investors.

The province has determined that FDI plays a very important role to ensure its development towards modernisation. The province has been actively promoting foreign economic activities and implementing measures to attract FDI projects. The province is constantly improving the existing investment environment and focusing on planning, construction and development of industrial zones.

Bac Ninh has 15 industrial zones including those with most modern infrastructure namely VSIP, Tien Son, Yen Phong and Que Vo. In particular, the biggest priorities will go to projects with high feasibility, strong financial resources, high technology, production of new materials, biotechnology, and electronic projects which are environment friendly.

So far, FDI projects in Bac Ninh are operating effectively. Along with attracting new investment projects, investors of current FDI projects have effectively expanded scale of business production and investment capital.

FDI projects in Bac Ninh have facilitated the forming of some key industries such as core industries like electronics to create annual large value and highly competitive products. This helps create spillover to other domestic enterprises and contribute to urban development in the area.

Bac Ninh province aims to attract investment in the coming years to increase the quality, efficiency and environmental protection in accordance with international standards and sustainable development of the province.

Besides, the province also facilitates technology transfer among industries and projects. Other factors like the employee wages, the contribution to the local budget, development of the high skilled workforce and high technology application for environment friendly development services and creation of value-added products as well as an effective use of the resources for a sustainable development are also focused on.-VNA