Overview of the conference analysing economic indicators, jointly organised by the Bắc Giang Provincial People’s Committee and the Việt Nam Chamber of Commerce and Industry (VCCI). Photo courtesy of Bắc Giang People's Committee.

BẮC GIANG Bắc Giang Province will continue to focus on improving the business and investment environment and enhancing its Provincial Competitiveness Index (PCI) through next year, according to Lê Ánh Dương, Chairman of the People’s Committee of Bắc Giang Province.

The northern province is striving to maintain its position among the top 12 provinces and cities nationwide in terms of Gross Regional Domestic Product (GRDP) by 2025, while also aiming to keep its PCI ranking within the top 15 provinces and cities across the country.

The province aims to achieve a total investment capital of VNĐ230.5 trillion (US$9.3 million) for the 2021-2025 period, including both domestic and foreign direct investment, or FDI. Bắc Giang also seeks to establish 6,900 new companies, bringing the total number of enterprises in the province to 17,700.

Provincial authorities are committed to addressing legal obstacles for businesses to invest in projects, improving the quality of reforms in sectors requiring conditional business investments and enhancing business conditions.

Other areas of focus include increasing management efficiency, promoting reforms in specialised inspections of goods and effectively implementing the National Single Window Portal. Bắc Giang will also work on on using technology to share data among state agencies and improve the efficiency of administrative procedures.

The province is working towards building a friendly government by surveying business satisfaction and improving firms' access to capital. Bắc Giang also aims to refine policies to encourage businesses to invest, with a focus on innovation, digital transformation and sustainable development. Furthermore, the province will improve business development services and increase investors' access to clean land.

Until next year, Bắc Giang will focus all resources on developing infrastructure for industrial zones to attract investment. The province is working towards an 'industrial ecosystem' model, connecting industrial zones with urban services that feature modern, synchronised technical and social infrastructure. It is also researching and preparing to invest resources in semiconductor infrastructure, digital infrastructure, research and development centres and high-tech zones to create breakthroughs in economic and social development.

Since 2021, the province has worked to create a favourable, transparent and friendly business environment to attract investment and develop enterprises. Notably, the province's PCI ranking has improved significantly, boosting Bắc Giang’s reputation and position.

The province's GRDP has steadily expanded, reaching VNĐ181.97 trillion ($7.4 million) in 2023, ranking 12th nationwide. The average GRDP growth rate from 2021 to 2023 in Bắc Giang was 14 per cent per year.

For two consecutive years, Bắc Giang's PCI has ranked among the top five provinces and cities nationwide. In 2022, the province ranked second out of 63 provinces and cities, and in 2023, it ranked fourth out of 63.

From 2021 to 2023, the province saw the establishment of 5,416 new companies, bringing the total number of enterprises in Bắc Giang to 15,955.

The total investment capital realised by businesses in the province from 2021 to 2023 reached VNĐ89.077 trillion ($3.6 million), including both domestic investiment and FDI.

Its FDI inflow has not only increased significantly in terms of project numbers and investment capital, but has also seen a wave of investment from major Asian countries like Singapore, Japan and South Korea in industries like software and semiconductors, marking substantial improvements in the quality of FDI attraction.

From 2021 to June 2024, Bắc Giang attracted VNĐ789 million ($32,141) in total converted investment capital. The FDI projects primarily focus on manufacturing and processing electronic components, textiles, and logistics. As of now, 30 countries and territories have invested in projects in Bắc Giang province. VNS