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Bắc Giang strives for $1.3 billion worth of investment in 2021

The northern province of Bắc Giang is working hard to complete the target of attracting about US$1.3 billion worth of investment this year, said Chairman of the provincial People’s Committee Lê Ánh Dương.

Dương said that in the area of industry, the province would prioritise projects with a high proportion of high, new, green and economical technology, using domestic materials and having commitment in technology transfer and labour training.

The province has designed particular areas for projects in different fields, including industry, agriculture, tourism, services, urban areas, logistics, entertainment and healthcare.

The province will attract investment in the electronics industry in industrial zones and clusters in districts of Việt Yên, Tân Yên, Hiệp Hòa, Yên Dũng, Lạng Giang and Bắc Giang city.

The province will attract textile and garment investment projects in Hiệp Hòa and Yên Dũng industrial zones and clusters; processing agricultural, forestry and food projects will be concentrated in the districts of Lục Ngạn, Lục Nam, and Hiệp Hòa.

For foreign-invested projects, Bắc Giang will strive to lure partners which have global trademarks with high financial capacity, long-term operation, and projects in supporting industries.

For domestically-invested projects, the province will call for investment from businesses in the list of 500 largest firms of Việt Nam (VN500), especially in areas of agriculture, trade and services.

Nguyễn Cường, deputy director of the provincial Department of Planning and Investment, said that Bắc Giang attracted over $588 million in investment in the first two months of this year, 4.5 times higher than in the same period last year.

Notably, the province granted investment licences to a number of large projects, including $270-million Fukang Technology Factory invested by Foxconn Singapore PTE Ltd, and a $210 million Ja Solar PV Việt Nam project funded by Ja Solar Investment (Hong Kong) Limited.

Recently, the Prime Minister has agreed to build three industrial parks and expand three other IPs in Bắc Giang province.

In 2020, Bắc Giang granted new licences and permitted additional investment to 215 projects with total investment of nearly $1.4 billion last year, up 7.3 per cent year on year, rising to ninth position among provinces and cities nationwide in FDI attraction. — VNS