Republic of Korea leads in the scale of pouring FDI into Bac Ninh province

Korea currently has 589 valid investment projects, and total registered investment capital is about 13.68 billion USD, accounting for about 65% of total foreign investment capital in industrial parks in Bac Ninh province.

  A corner of VSIP Bac Ninh Industrial and Urban Park. (Photo: Danh Lam/VNA)

After more than 30 years of establishing friendly relations between Vietnam and Korea (from 1992 to the present), bilateral economic cooperation between the two countries has achieved many achievements.

In Bac Ninh province, South Korea is currently the leading country in terms of investment capital scale, an attractive destination for Korean investors.

In Bac Ninh province, although in the context of global difficulties due to the impact of the COVID-19 pandemic, the trade war had a profound impact on the shift of investment capital flows and caused the economic recession. However, Bac Ninh province still attracts many sources of foreign direct investment (FDI).

In 2022, the total newly registered and adjusted investment capital in Bac Ninh province is more than 1.441 billion USD (of which FDI capital is nearly 1.19 billion USD).

In the first quarter of 2023, the province attracted USD 565.06 million; in which, 55 new projects (increased 2 times over the same period in 2022) with a total capital of 480.6 million USD (an increase of 8.5 times over the same period in 2022); adjusted capital for 31 projects, total adjusted capital increased by 83.05 million USD; contribute capital, buy shares worth 1.41 million USD.

Accumulated up to now, Bac Ninh has granted investment registration to 1,852 secondary projects with a total newly registered and adjusted investment capital of about 24.2 billion USD (including 1,267 FDI secondary projects). , total investment capital is more than 21 billion USD).

In the industrial zones of Bac Ninh, Korea is the leading country in terms of investment capital with 589 valid investment projects, the total registered investment capital is about 13.68 billion USD (accounting for 65% of the total investment capital). total foreign investment capital in industrial zones).

Major projects in the fields of manufacturing electronic components, mobile phones, precision mechanics, agro-food processing, service industries and civil industry; creating jobs for nearly 152,500 workers inside and outside the province, making positive contributions to the province’s socio-economic development.

Typical enterprises such as Samsung Group, Intops, Hanwha Techwin, Amkor, Hana Micron, CrucialTec, Hyosung…

Increase Vietnam-Korea trade turnover to 100 billion USD this year

In 2022, despite being affected by the COVID-19 epidemic, the amount paid to the state budget by enterprises in the province still reached VND 30,372 billion; which Korean enterprises contributed 10,461 billion VND, accounting for about 34.5% of the province’s budget revenue.

According to the Standing Vice Chairman of the People’s Committee of Bac Ninh Province Vuong Quoc Tuan, Bac Ninh province currently has 16 industrial parks approved by the Prime Minister, with a total area of ​​over 6,397 hectares. In which, there are 10 zones in operation, the average area of an industrial park is 399ha.

Although the province has a small area, the total area of industrial parks as well as the average size of an industrial park in Bac Ninh is high.

Bac Ninh’s industrial parks are synchronously invested in technical and social infrastructure, creating attractiveness, and attracting many large investors from 38 countries and territories.

From the investment in completing the infrastructure of industrial parks, Bac Ninh is considered a bright spot in attracting investment from the whole country.

Thanks to solutions to focus on investing in the infrastructure of industrial parks and a synchronous and modern transport system, the investment environment of Bac Ninh province is increasingly improved and towards the goal of sustainable development, bringing about sustainable development. Bac Ninh becomes one of the industrial and service centers of the region and the whole country.

Along with that, with the motto “the success of investors is also the success of the province” and “the province always accompanies businesses”, from the beginning of 2020 until now, Bac Ninh province has focused and focused on improving improve the investment environment.

Consistent with the viewpoint of selective investment attraction, following the “2 less, 3 high” orientation (the province gives priority to projects that use less land, less labor; high investment rate, and high contribution to the budget) and high-technology content).

In addition, the People’s Committee of Bac Ninh province also continues to pay attention to and promote administrative reform and innovation in the investment environment, in order to meet the maximum requirements of investors.

Source: Vietnam Plus