Workers in a factory in an industrial park in Bắc Giang Province. To accelerate the economic-social development plan in 2024, the province's authority will continue to focus on improving the investment climate in the second quarter. — VNS Photo

BẮC GIANG — Bắc Giang Province's gross regional domestic product (GRDP) grew more than 14 per cent in the first quarter of this year, maintaining its position at the forefront of the nation's economic growth.

Vice Chairman of Bắc Giang People's Committee, Mai Sơn, revealed the data, highlighting robust growth across all manufacturing sectors. Agriculture, forestry, and fishery expanded by 2.14 per cent, industry and construction by an impressive 18 per cent, while services saw a notable uptick of 6.32 per cent.

In the first quarter, Prime Minister Phạm Minh Chính approved the province's plan to develop two industrial parks, bringing the total number of industrial parks in the province to 10, covering a combined planned area of 2,252 hectares.

As of March 15, 2024, the province has attracted about US$624 million in investment capital, including nine domestic projects with total registered capital of nearly VNĐ7.7 trillion ($314 million), marking a remarkable 25.80-fold higher than the same period last year. There were 310 newly established enterprises with a total registered capital of VNĐ2.6 trillion, up 18 per cent year-on-year.

The province's Index of Industrial Production (IIP) in March 2024 increased by 20.6 per cent compared to February and rose by 16.7 per cent compared to March 2023. In the first three months, this index increased by 23.89 per cent over the same period last year, driven by production expansion of a number of large enterprises in the province.

In the manufacturing sector, electronics lead the way, with production surging by 41.13 per cent thanks to strong performances by key companies like Luxshare ICT, Luxshare Vân Trung, Fukang and Hana Micron. 

To accelerate the economic-social development plan in 2024, Mai Sơn said the province will continue to focus on improving the investment climate in the second quarter. Emphasis is placed on preparing necessary conditions, particularly infrastructure and human resources, to attract foreign investment, especially high-quality capital with advanced technology.

The province also concentrates on supporting enterprises in their business operations and enhancing trade promotion, particularly in boosting the consumption of lychee and key agricultural products of the province. Concurrently, Bắc Giang vigorously pushes forward the implementation progress of public investment projects, especially major ones such as the construction of Hà Bắc 2 road and bridge, upgrading the road from provincial route 293 to National Highway 17 and building the Đồng Việt bridge. — VNS