Review Conference of 30 years of attracting foreign direct investment in Bac Ninh

Central ministries, agencies’ delegates attending the conference were Mr. Pham Dai Duong, Deputy Minister of Science and Technology, Chairman of Hoa Lac Hi-Tech Park Management Board; Mr. Vu Van Chung, Deputy Director of Foreign Investment Agency – Ministry of Planning and Investment.

On behalf of Bac Ninh province were Mr. Nguyen Nhan Chien, Member of Party Central Committee, Secretary of Provincial Party Committee (PPC), Head of the Provincial Delegation of the National Assembly Members; Mr. Nguyen HuuQuat, Standing Deputy Secretary of the PPC;Mr. Nguyen Tu Quynh, Deputy Secretary of the PPC, Chairman of the Provincial People's Committee; Mrs. Nguyen Thi Ha, Deputy Secretary of the PPC; Mrs. Nguyen Huong Giang, Chairwoman of the Provincial People's Council; Members of Provincial Standing Party Committee; Standing People's Council, People's Committee, Fatherland Front, Delegation of National Assembly Members; Leaders of Departments, Agencies, Districts, Town and City; Representatives of business associations, commercial banks and over 400 typical enterprises.

Secretary of Provincial Party Committee Nguyen Nhan Chien and Chairman of Provincial People’s Committee Nguyen Tu Quynh awarded Certificates of Merit to the collectives for the achievements

After 30 years of attracting FDI, the foreign-invested economic sector has been dynamically developed, increasingly played  a key role and contributed significantly to the socio-economic development of Bac Ninh in particular, and Vietnam in general.

Thanks to favorable geo-political and geo-economic location and attractive investment environment, FDI in the province has continuously increased over the past years, especially since the Law on Investment launched in 2005. As an illustration, the number of FDI projects and its worth started from 04 projects worth USD 177.6 million in 1997, at the time of re-establishment, to 1,087 FDI projects with the total registered capital after adjusting of USD 15.8 billion so far, hereby making Bac Ninh one of the leading provinces in attracting FDI.

Among over 1,000 FDI projects, multinational corporations such as Canon, Samsung, Pepsico, ABB, Microsoft, etc have always been highly appreciated on the quality. In particular, the projects of Samsung Group with total registered capital of over USD 15 billion and have disbursed over USD 10 billion,hence, improving the quality of FDI investors.

Standing Deputy Secretary of Provincial Party Committee Nguyen Huu Quat and Deputy Secretary of Provincial Party Committee Nguyen Thi Ha awarded Certificates of Merit to the collectives for the achievements

The FDI economic sector has made important contributions to the socio-economic development of Bac Ninh province. By the end of September 2017, the gross products of this sector reached nearly VND 98 trillion, making an important dedication to restructuring the economic sectors, to boosting industrial production growth (accounts for 89.9% of industrial output value in total in the province), to increasing export turnover (obtains USD 22.6 billion in 2016, USD 25 billion in 2017 as an expectation) and state budget contribution (reaches VND 7,057 billion in 2016 and VND 3,600 billion in the first 6 months of 2017).

In addition to creating jobs, increasing income for more than 200,000 employees in and outside the province, FDI enterprises actively supported many investment projects in public welfare, social and cultural activities of the locality, contributing to ensuring social security.

Chairman of the Provincial People’s Committee Nguyen Tu Quynh addressed at the conference

Speaking at the meeting, Chairman of the Provincial People's Committee Nguyen Tu Quynh expressed his gratitude to the investors and affirmed that the success of FDI projects have decisively turned Bac Ninh, the start of a purely agricultural province,into a modern industrial province with many leading indicators in the country.

FDI enterprises and Bac Ninh province always cooperated closely and effectively for the past years by the effective combination between the vision and determination of the Bac Ninh’s Party Committee, authorities and people and the bravery, wisdom and finance of foreign investors. The above factors have createdboth the success of the enterprises and the tectonic changes that havedeveloped the socio-economic appearance, raised the role, status of Bac Ninh province.

Bac Ninh has started a new development period in a favorable economic space, attractive investment environment and many potential opportunities for foreign investors, the Chairman said. Besides, he hoped FDI enterprises to actively continue innovating and effectively participating in the industrial revolution 4.0, developing corporate culture, complying with the law and caring for workers' life as well as introducing and branding Bac Ninh to the world in order to create greater results in the future.

The Chairman pledged to make administrative reform stronger, create a safe, attractive, transparent and favorable investment environment for investors. Bac Ninh always accompanies and considers FDI enterprises as an integral part of the economy. Foreign entrepreneurs are not only important partners but also close friends of Bac Ninh, he added.

On this occasion, 23 typical collectives with outstanding achievements in 1987 – 2017 period were received Certificate of Merit of Chairman of Provincial People’s Committee./.