Bac Giang’s strategic industrial development drives growth

Manufacturing and processing line for electrical wires and cables at Taiwan-invested Nienyi Vietnam Co Ltd in Vân Trung Industrial Zone, Việt Yên District, Bắc Giang Province. — VNS Photo

BẮC GIANG — Bắc Giang Province is poised for a robust economic upswing as it intensifies efforts to attract diverse investments, both domestic and international, for industrial development until 2025.

According to Trần Quang Tấn, Director of the Bắc Giang Department of Industry and Trade, the province’s focus extends to the promotion of strategic sectors, fostering technological innovation, and creating a conducive environment for industrial growth.

Bắc Giang’s commitment to elevating its industrial landscape is reflected in its strategic priorities. The province is strategically nurturing support industries to bolster key sectors, amplifying production value, and seamlessly integrating into global production networks and value chains. The emphasis lies on attracting investors with a proven track record, high feasibility, advanced technology adoption, and a commitment to environmental sustainability.

With an ambitious target of achieving an average annual industrial growth rate of 21.5 per cent from 2021 to 2025, Bắc Giang aspires to propel its industrial production value to approximately VNĐ677 trillion (US$28.2 billion) by 2025, marking a significant leap.

To materialise these aspirations, Bắc Giang is set to implement a multifaceted strategy. The province is strategically shifting its industrial structure to attract investments in processing and manufacturing, with a pronounced reduction in assembly and processing for domestically manufactured industrial products. A notable aspect of this strategy is the impetus given to technological innovation, process optimisation, and the harnessing of Industry 4.0 advancements to enhance labour productivity and foster the growth of emerging industries.

Moreover, the province is directing attention to enhancing industrial cluster infrastructure, actively courting investments, and fortifying wastewater treatment systems within active industrial clusters. A holistic vision shapes the province’s industrial development strategy, envisioning an “Industrial Ecosystem” that intricately links industrial zones with urban areas, featuring state-of-the-art technical and social infrastructure.

Modern European-standard paper production line at Bắc Giang Import-Export Joint Stock Company. — VNS Photo

Deepening processing and expanding industrial land fund

Bắc Giang’s commitment to deep processing and increasing the share of processing and manufacturing industries is underlined. The province plans to expand its clean industrial land fund to meet burgeoning investment demands and streamline land clearance for remaining areas within industrial zones. A comprehensive effort is underway to elevate the overall investment climate.

The province’s industrial development strides have yielded tangible economic benefits. The province has successfully attracted both domestic and foreign direct investments, with 452 active projects. These projects, totalling nearly $8.3 billion and VNĐ17.85 trillion, include 339 FDI projects and 113 domestic projects. Remarkably, Bắc Giang’s economic growth is expected to surge to 13.45 per cent in 2023, positioning the province as a national economic frontrunner.

Beyond economic metrics, Bắc Giang’s industrial surge plays a pivotal role in employment generation and labour quality improvement. The influx of industrial projects annually injects vitality into the local labour market, facilitating the shift from traditional sectors like agriculture and forestry to industrial, construction, and service domains.

Đào Xuân Cường, Head of the Management Board of Industrial Zones in Bắc Giang Province, has reported that as of now, the province currently hosts 20 industrial zones, eight of which are operational and approved by the Provincial People’s Committee, covering a planned area of nearly 4,600 hectares. Additionally, there are eight new industrial zones and one expanded zone awaiting approval from the Ministry of Planning and Investment and the Prime Minister for investment policies related to infrastructure and industrial zone operation.

The upcoming focus for the industrial zones is on elevating the investment environment, ensuring transparent business conditions, promoting equality, and cultivating a friendly and efficient atmosphere. Efforts will concentrate on attracting investments, nurturing business development, and enhancing the province’s competitiveness. Proactive steps will be taken to advance planning and infrastructure investments, ensuring a coordinated and available land fund for attracting investors.

The Management Board will consistently improve the quality of investment promotion activities, particularly targeting large corporations and significant enterprises. Customized support policies will be introduced for major investors, emphasising projects that make substantial contributions to the provincial budget, have a limited workforce, integrate advanced technologies, and minimise environmental impact. — VNS