Bắc Giang to focus on improving infrastructure to lure foreign investment

The production line of Nichirin Vietnam Co Ltd, which is 100 per-cent invested by Japan, at Quang Châu Industrial Park, Việt Yên District, Bắc Giang Province. — VNS File Photo

BẮC GIANG — The northern province of Bắc Giang will focus on implementing solutions to promote growth and enhance the value of industrial production in the area in the latter half of this year, said Vice Chairman of the provincial People’s Committee Mai Sơn.

The province has prepared necessary conditions, especially infrastructure, human resources and premises, to proactively welcome foreign investment capital flows, Sơn said.

The province is focusing on quality capital sources with advanced technology, semiconductor production on the basis of meeting the regulations on investment rates and number of employees for investment projects using non-budgetary capital.

The province has assessed the market potential for investment, trends and the expansion needs of enterprises in local industrial parks. They will prioritise attracting investors from countries that are members of free trade agreements (FTAs) with Việt Nam, focusing on concentrated industries, digital technology, the digital economy, supporting industry, services and trade.

In addition, the province has focused on reviewing and proactively addressing the needs of enterprises, particularly in terms of capital, market access, labour, raw material costs, to help stabilise production, promote supply chain recovery and create new production capacity.

Bắc Giang Province will accelerate the investment progress in building infrastructure for industrial parks and industrial clusters to put them into operation soon from now until the end of this year, attract investment and create momentum to promote socio-economic development of the province.

In which, it has focused on compensation and site clearance for the remaining areas of expanding industrial parks such as Yên Lư, Hòa Phú and new industrial parks such as Phúc Sơn and Việt Hàn.

Additionally, the province has guided and urged investors to propose the establishment and expansion of 12 industrial parks, for which dossiers have been submitted to the Ministry of Planning and Investment, as well as other parks pending approval of investment policies by the relevant authorities.

To date, the province has received Prime Ministerial approval for investment policies in nine industrial parks covering 2,238 hectares, and is in the process of seeking approval for 12 more, while also approving the construction planning for 14 priority parks to be implemented in the 2022-25 period.

The province is preparing zoning plans for six industrial parks and establishing a construction planning task for one industrial park.

The province currently has 426 enterprises operating in industrial parks. The occupancy rate of industrial parks is about 70 per cent.

Since the beginning of the year, the province has had one newly-established industrial cluster, bringing the total number of industrial clusters established to date to 55, offering a total area of ​​2,329 hectares.

The province attracted more than US$1.54 billion worth of investments in the first seven months of this year, into 18 domestic projects and 44 FDI projects.

Bắc Giang ranked seventh in the country and the number one in the northern midlands and mountainous region in terms of attracting FDI in the first half of this year. — VNS