(VOVWORLD) - Bac Ninh province continues to be among Vietnam’s top 10 destinations for foreign investment thanks to its pro-business policies.
 Factories of foreign invested companies in Bac Ninh's industrial park (Illustrative photo: Vietnam Integration Magazine) |
International groups like Samsung, Canon, and Foxconn have selected Bac Ninh to build their plants because of the province’s many incentives for investors.
Nguyen Quang Thanh, Deputy Director of the provincial Department of Planning and Investment, says Bac Ninh has cleared land, provided human resources, taken pandemic preventive measures, and given other support for businesses. The province has pushed administrative reforms and major construction projects of regional connectivity and land clearance. It has found many ways to attract investment and big projects feasible during the COVID-19 pandemic.
Thanh said: “Bac Ninh considers supporting businesses its primary goal. The management boards of its industrial parks coordinate and guide investors in COVID-19 prevention and control. The province’s teams have worked with businesses to find pandemic preventive solutions to maintain their production.”
Economists say industrialization combined with sound investment policies enable Bac Ninh to attract FDI.
Phan Huu Thang, former Director of the Foreign Investment Department of the Ministry of Planning and Investment, urged Bac Ninh to focus more on “no environmental pollution" while fine tuning its foreign investment policies and mechanisms.
“To overcome the current difficult period, localities including Bac Ninh should uphold Vietnam’s socio-economic development orientations and policies under the Politburo’s Resolution 50. I believe Bac Ninh will achieve its industrialization goals,” said Thang.
Bac Ninh province ranks 10th of 63 provinces and cities on the Provincial Competitiveness Index (PCI) and 4th on the provincial Public Administration Performance Index.