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Bac Ninh attracts 32 new investment projects

Update: April, 04/2014 - 08:44
The Samsung Electronics Viet Nam Company in the Yen Phong Industrial Zone, in particular, added an extra $1 billion to raise the total investment capital to $2.5 billion, making it the world's largest Samsung IT complex.— File Photo
BAC NINH (VNS)— The Bac Ninh Industrial Zones Management Board has granted licences to 32 new projects with a combined investment capital of US$200 million during the first quarter of this year.

With the grant of the licences, 64 per cent of the yearly target has been met, head of the board Ngo Sy Bich said.

The investment came mainly from foreign-funded projects as the local authorities concentrated on attracting satellite projects from big companies such as Samsung, Canon and Nokia, he said.

In order to attract more investment from both domestic and foreign businesses into the province, he stated, the local authorities would continue to revise the investment policies. They would also draw up a list of areas which encourage or limit investment to improve the quality of the investment flow.

The top priority would be given to environmentally friendly projects which utilise modern technology and facilitate the strengthening of links between domestic businesses. Other service sectors such as banking and insurance, tourism, research and development as well as consultation would also receive special attention.

Last year, Bac Ninh was ranked fifth, behind Thai Nguyen, Thanh Hoa and Binh Thuan provinces, and Hai Phong City, after it attracted over $1.6 billion in investment capital, the board said, adding that more than $1.4 billion of that amount came from foreign-funded projects.

In term of the number of projects, the province was placed third with 100 newly registered projects, after HCM City and the central province of Thanh Hoa.

The Samsung Electronics Viet Nam Company in the Yen Phong Industrial Zone, in particular, added an extra $1 billion to raise the total investment capital to $2.5 billion, making it the world's largest Samsung IT complex.

As of last year, the province was home to 459 foreign-funded projects with a total registered capital of over $6 billion, and 719 projects funded by domestic investors with a total worth of VND78.9 billion, or $3.7 million. — VNS

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