Production activities at an FDI enterprise in Vân Trung Industrial Park, Việt Yên Town, Bắc Giang Province. — Photo courtesy of Bắc Giang Province

BẮC GIANG — The northern province of Bắc Giang aims to attract around US$1.5 billion in foreign direct investment (FDI) in 2025, according to Chairman of Provincial People’s Committee Nguyễn Việt Oanh.

To achieve this goal, Bắc Giang Province will focus on industrial development based on the ‘industrial ecosystem’ model. This approach integrates industrial zones with urban areas and service hubs, ensuring comprehensive and modern technical and social infrastructure.

The province also continues to restructure its industrial sector by attracting investments in manufacturing and processing. It will seek large-scale processing and manufacturing industrial projects that apply new technology, smart manufacturing, artificial intelligence (AI) and green energy to add value to industrial goods for export.

Focus will also be placed on projects in the semiconductor industry with high added value, connecting global production and supply chains.

Attracting strategic investment

Oanh said that in 2025, the province will work on attracting strategic and targeted FDI, prioritising key markets and partners in line with global and regional contexts while minimising dependence on high-risk regions prone to disputes.

He emphasised the province’s commitment to global supply chain integration, green and high-tech investments, supporting industries, advanced management practices and digital transformation in investment promotion and State management.

An industrial park in Bắc Giang Province. — Photo courtesy of Bắc Giang Province

As for commerce and services, the province has attracted investment to develop a synchronous, modern, competitive and high-quality service industry.

The focus includes commercial services in urban areas and around industrial parks, transportation, logistics, financial and banking services and tourism (particularly resort and entertainment facilities). It also aims to expand its nighttime economy and enhance services in sports, culture, healthcare, education and vocational training.

With these initiatives, Bắc Giang aspires to become a gateway and a regional hub for goods transshipment, transportation, warehousing, logistics, trade, finance, entertainment, healthcare, education and vocational training in the northern midland and mountainous region.

In agriculture, major enterprises are investing in processing, preserving and distributing key agricultural and forestry products, including lychees, vegetables, poultry, pork and timber. The province is also promoting large-scale, high-tech agricultural production that meets VietGAP, GlobalGAP and organic farming standards.

Authorities are also encouraging the development of new One Commune One Product (OCOP) goods, playing to local strengths.

Furthermore, Bắc Giang has enhanced its supply and demand connections by partnering with corporations, major cities and e-commerce platforms to establish supply chains from production to market.

Facilitating business

Workers at an FDI enterprise in Vân Trung Industrial Park. — Photo courtesy of Bắc Giang Province

Programmes linking local enterprises with foreign supply chains have been developed to enhance competitiveness, retain investors and create breakthroughs to attract new projects.

The province has approached diverse channels to engage influential individuals, investors, business associations, international organisations, reputable consulting firms, investment funds and key industry figures to draw in high-quality investments.

Local authorities are being asked to provide detailed information on land availability, planning, site clearance, rental costs and infrastructure. They are also required to proactively address investors' challenges, refine investment policies and streamline information channels to facilitate investor inquiries, site visits and investment procedures.

"We are implementing a project of nearly $600 million and plan to increase the capital to $1 billion,” Chung Won Seok, General Director of Hana Micron Vietnam, said.

He added that during the investment process in Bắc Giang, the company saw significant improvements in administrative procedures.

Meanwhile, Deputy General Director of Foxconn Vietnam Chou I Wen shared that during the operation, the company received support promptly when encountering difficulties or problems.

“Therefore, from the initial project, we have continuously expanded our investment capital in Bắc Giang. Currently, we have implemented 10 projects with a total investment capital of $2.1 billion,” he said.

In 2024, Bắc Giang achieved impressive investment results, securing large-scale domestic and foreign projects. This success solidifies the province’s reputation as a reliable investment destination.

By December 31, 2024, Bắc Giang had attracted over $2.23 billion in total investment. This included 29 newly approved domestic direct investment (DDI) projects with registered capital exceeding VNĐ20.07 trillion ($812.3 million) and 73 FDI projects valued at over $507 million.

Additionally, 24 DDI projects received an added capital of over VNĐ2.79 trillion while 74 FDI projects gained over $782 million.

Bắc Giang ranked 11th nationwide in FDI attraction, with most projects focusing on electronic component manufacturing, textiles and logistics. — VNS