Image Credits: The Investor
Authorities in Bac Ninh province have granted investment decisions and licenses for several large-scale projects, collectively valued at $5.58 billion. This announcement was made on September 22 during a conference aimed at promoting investment and unveiling the provincial master plan for the 2021-2030 period, with a vision extending to 2050. The event was attended by Prime Minister Pham Minh Chinh.
Among the notable approvals was the investment policy for the Hong Hac-Xuan Lam ecological urban area in Thuan Thanh district. This project is set to receive nearly $1.066 billion in funding from VietinBank Trade Union Investment JSC.
Additionally, eight new projects were awarded investment registration certificates, totaling more than $1.12 billion. The largest of these is an electronic components factory backed by Taiwanese electronics giant Foxconn, located in the Nam Son-Hop Linh Industrial Park, with an investment of over $383 million.
Other significant projects include a $280 million manufacturing facility from Goertek Technology Vina Company Limited of China, which will produce electronic products, network devices, and multimedia items. Furthermore, Singapore’s Victory Giant Technology Pte. Ltd. has been awarded a $260 million high-precision printed circuit board (PCB) project at the VSIP Industrial Park, while Logos Yen Phong IIA is set to establish a $74 million warehousing and logistics project at the Yen Phong II Industrial Park.
The local government also approved capital increases for five existing projects, amounting to an additional $1.3 billion.
In addition to these investments, Bac Ninh signed cooperation agreements for future projects with South Korea’s Samsung Display and Japan’s Aeon Mall Vietnam, with total investments of $1.8 billion and $190 million, respectively.
This concerted effort to attract substantial foreign investment underscores Bac Ninh’s strategic importance in Vietnam’s economic landscape, particularly in the technology and manufacturing sectors. As the province continues to enhance its infrastructure and business environment, it aims to solidify its position as a key investment destination in the region.