Bac Ninh ranks 4th in the country in attracting FDI capital.

In 2023, the economic picture of Bac Ninh province still recorded many highlights although some indicators did not meet expectations.

Electronic circuit board production line at Nexcon Vietnam Co., Ltd., a Korean-invested company in Bac Ninh . Photo: Danh Lam/VNA

Although Bac Ninh is the smallest locality in the country, it has the 4th largest foreign direct investment (FDI) capital in the country and is always a bright spot in attracting FDI.

In 2023, the whole province will attract nearly 1.7 billion USD in FDI; of which, 349 new projects will be granted (an increase of about 3 times compared to 2022), with a total registered investment capital of more than 1 billion USD.

The province also adjusted capital for 149 projects with an increased adjusted capital of more than 590 million USD; contributed capital and purchased shares with a value of more than 22 million USD.

The number of newly established enterprises in the province increased by 30.8%, with total capital increasing by 59.7%, while the number of enterprises resuming operations increased by 5.1%.

To take advantage of FDI capital, in 2023, Bac Ninh has gradually shifted from "attracting" FDI capital to "cooperating" with foreign investors in the spirit of equality and mutual development, mutual benefit, and responsibility to society, workers, and environmental protection.

The province has taken advantage of the open door policy for international integration, participated in investment promotion activities, foreign economic activities, implemented administrative reforms, and had preferential policies and support for businesses to attract FDI from many countries in the region and around the world to the province.

Secretary of the Bac Ninh Provincial Party Committee Nguyen Anh Tuan emphasized that the province's goal is to cooperate in investment associated with sustainable development, encourage links between FDI enterprises and domestic enterprises, and increase the localization rate in products.

The province is always ready with clean land, ready with human resources, ready with reforms, and ready with support for investors interested in investing in the province.

In 2023, Bac Ninh sent 8 delegations abroad as planned and 4 delegations according to adjustments and supplements approved by the Prime Minister.

The delegations aim to exchange and promote cooperation, investment, trade, culture, and exchange experiences to improve consulting and policy-making capacity with partners.

Many delegations have organized investment promotion conferences in the countries they visited, attracting the participation of many businesses to learn about investment opportunities, while also making practical and useful recommendations and proposals, helping to strengthen cooperative relations with partners in other countries, especially with countries such as Korea, Japan and China.

Seminars, contacts, meetings with businesses, and investment promotion are all focused on by the province and are the focus of the working programs of the provincial leaders in European countries, Korea, China, Japan, and the United States. That contributes to promoting the province's attractive investment environment to potential partners, attracting investment in the province's priority areas as well as the strengths of the visiting countries.

With the advantage of attracting large FDI investment and many high-tech corporations and enterprises, in 2023, Bac Ninh province will also actively contribute to the overall digital economic development of the country. Bac Ninh's digital economy currently ranks 7th in the country; in which, the proportion of core digital economic sectors is the highest in the country (accounting for 50.73%).

Notably, according to the Vietnam Digital Economy Annual Report 2022 co-sponsored by the Central Economic Committee and the Ministry of Information and Communications, Bac Ninh ranks first in the country in terms of the proportion of digital economy to GRDP at 56.83%.

According to the Report on the Readiness Index for the Development and Application of Information and Communications Technology (Vietnam ICT Index 2022) announced on September 21, 2023, by the research team of the Department of Information and Communications Technology, Ministry of Information and Communications and Vietnam Association for Information Technology, Bac Ninh ranked 10th in the provincial ICT Index.

Bac Ninh aims to become a "City for the Future" by 2030, pioneering the use of digital technology and data to improve the efficiency of social governance, address urban challenges, and promote rapid and sustainable socio-economic development./.

Viet Thang