To date, the northern province of Bac Giang has attracted 601 foreign direct investment (FDI) projects, with a total investment of $12.3 billion. Bac Giang authorities have stated their commitment to attracting foreign investment, prioritizing high-tech projects, supporting industries, and high-quality service-related investments.
Furthermore, foreign projects that focus on environmental protection, modern management practices, and connectivity with global production and supply chains will receive preferential support.
The province aims to maximize resources to strengthen its socio-economic infrastructure, particularly in the construction of infrastructure within industrial zones and clusters. Additionally, Bac Giang is committed to fostering a high-quality labor force to accommodate future foreign investment, especially in semiconductor manufacturing and advanced technology sectors.
Notably, Bac Giang plans to introduce a resolution by 2030 to develop key service industries, with a goal of promoting high-potential sectors that better meet the needs of foreign employees and experts residing locally.
Phan The Tuan, Vice Chairman of the Bac Giang People’s Committee, stated that Bac Giang is determined to gradually establish the service sector as a pillar of the provincial economy, increasing its contribution to the local economy.
The province will focus on developing potential service industries, including commercial services around urban and industrial zones, transportation, and logistics. This also encompasses finance and banking, tourism (particularly resort and entertainment tourism), nighttime economy services, sports and cultural services, healthcare, and high-quality education and vocational training.
Between 2024 and 2030, Bac Giang is committed to achieving an average annual growth rate of 7.5-8.5% in the service sector. By 2030, the service sector is expected to contribute around 21-22% of the provincial gross domestic product (GRDP). During this period, retail and consumer service revenues are projected to grow at an annual rate of approximately 15%.
Additionally, Bac Giang will enhance the management of investment projects, further assisting investors in overcoming challenges, and will strengthen the inspection and review of licensed projects to resolve implementation obstacles.
Vietnam’s accelerated integration into the global economy, particularly in economic, trade, and investment sectors, is anticipated to bring many positive impacts and development opportunities for domestic economic growth.
Located 50 kilometers northeast of Hanoi, Bac Giang has recently focused on improving the business environment and enhancing provincial competitiveness, contributing to sustained economic growth and attracting more foreign investment.
From September 2019 to June 2024, Bac Giang approved 256 new foreign-invested projects, totaling over $4.01 billion, and approved capital adjustments for 273 projects, with adjustments totaling $4.03 billion.
During this period, Bac Giang’s disbursed FDI capital amounted to approximately $5.9 billion, accounting for 71% of the total, including new capital, additional capital, as well as capital contribution and share purchases.
To date, Bac Giang has attracted 601 foreign-invested projects with a total investment of $12.3 billion, primarily in manufacturing and processing industries, as well as trade and service sectors, employing 209,648 local workers.
In the first half of this year, FDI projects contributed nearly VND 2.48 trillion (approximately $98.02 million) to the province’s fiscal revenue, accounting for 25.4% of Bac Giang’s cumulative budget revenue.
In recent years, Bac Giang has consistently ranked among the top ten provinces in Vietnam in terms of FDI attractiveness, with growth in the number of projects, capital scale, and project quality.
