Bac Ninh leads in FDI attraction in two months

The northern province of Bac Ninh raked in more than 1.3 billion USD in foreign direct investment (FDI) in the first two months of this year, making it the country’s largest FDI recipient during the period, according to the Ministry of Planning and Investment’s Foreign Investment Agency.

Foster Electronics Co., Ltd (Japan) specialises in manufacturing loudspeakers at Bac Ninh VSIP Industrial Park. (Photo: Thong Nhat/VNA)
Foster Electronics Co., Ltd (Japan) specialises in manufacturing loudspeakers at Bac Ninh VSIP Industrial Park. (Photo: Thong Nhat/VNA)

FDI flows into Bac Ninh accounted for 26.5 percent of the country’s total and was 7.6 times that of the same period last year.

So far this year, the province has licenced 16 new FDI projects with combined registered capital exceeding 33.8 million USD, said Nguyen Quang Thanh, Deputy Director of the provincial Department of Planning and Investment. The province has also authorised 22 existing projects to add over 1.25 billion USD to their investment, he added.

Most of the additional funding was registered to land in developing urban and service infrastructure at the Vietnam-Singapore Industrial Park (VSIP) Bac Ninh (941 million USD), and building a plant for manufacturing electronic devices, network equipment and multimedia audio products at Que Vo Industrial Park (306 million USD), he said.

Bac Ninh is currently home to 1,727 valid FDI projects with total registered investment reaching nearly 22.54 billion USD.