Illustrative image (Source: Internet)

Bac Giang (VNA) - The Lenovo Group from China has expressed its desire to develop a computer component manufacturing factory in the northern province of Bac Giang during a recent meeting with local authorities.

The company would need 20-30ha of land for the factory’s development. Products made will be used for export to the US, the provincial portal reports.

During the meeting, the company’s representatives also studied Bac Giang’s policies, the provincial administrative procedures and incentives for investors, as well as its personnel resources.

Chairman of the Bac Giang People’s Committee Nguyen Van Linh briefed the company on the locality’s advantages and potential and its socio-economic development situation.

According to Linh, the significant growth of the industrial sector helped his province rank third among localities nationwide in terms of economic growth in 2018.

He also encouraged the Chinese group to invest in his province.

In 2018, Bac Giang granted investment licences to 107 domestically-invested projects with total registered capital of 1.92 trillion VND (82.4 million USD) and 63 foreign-invested ones valued at 166 million USD.

It also allowed 50 existing projects to add 336 million USD to their investments.

This year, the province will continue improving the investment climate while strengthening support and handling obstacles for enterprises and investors to boost the production and business development and facilitate investment attraction.

Top priority for investment attraction will be given to transport infrastructure, energy, the development of industrial parks and clusters, key urban areas, and social infrastructure projects which are suited to the provincial socio-economic development plan.

The province will also welcome investment in supporting industries, hi-tech farming and production and investment in preservation and deep processing of farm produce for domestic consumption and export orientation to increase added value.

It has set a target of luring 1-1.2 billion USD in investment by the end of the year.-VNA