Bac Ninh's economic management quality

With the motto "The success of enterprises is the success of the province", Bac Ninh continues to improve the investment and business environment, focusing on administrative reform, building and flexibly applying mechanisms and policies to remove difficulties and obstacles for the business community... In addition, the advantage of modern and complete infrastructure of industrial parks (IPs) has become a brand and a priority destination for domestic and foreign investors. Most of the IPs in the province meet the requirements of investors, have synchronous infrastructure, convenient traffic connections, helping businesses transport goods smoothly and quickly.

As one of the localities with the strongest industrial development in the country, Bac Ninh has achieved many important results, especially in planning and developing industrial parks. Investing in completing the infrastructure of industrial parks, creating an increasingly complete investment environment for the province and aiming for sustainable development, Bac Ninh is considered a bright spot in attracting investment, rising to become the 7th province in the country in terms of scale of investment capital attracted. From the first industrial park, Tien Son, to date, the whole province has 16 industrial parks with a total planning area of over 12,670 hectares, with an occupancy rate of over 70%. Up to now, the Bac Ninh Industrial Park Management Board has granted investment registration for more than 1,840 Investment Certificates; including more than 1,260 FDI projects and 582 domestic projects, with a total newly granted and adjusted investment capital of over 24.2 billion USD. Many of these industrial parks have become brands, helping Bac Ninh attract many large enterprises and multinational corporations. Most of the large enterprises investing in Bac Ninh choose to invest in concentrated industrial parks. The establishment of industrial parks has brought the province's industry to a breakthrough, creating a premise for trade, services and urban development. Industrial parks with synchronous and modern infrastructure, located adjacent to important traffic routes connecting to Hanoi city and neighboring areas, are very convenient for investors to choose to develop production and business.

The development of technical infrastructure of industrial parks has a spillover effect, attracting investment, connecting utility services inside and outside industrial parks, creating revenue for the budget to reinvest in local infrastructure. Thereby, gradually promoting the urbanization process towards converting agricultural areas into urban-industrial areas. Industrial parks are an industrial production model that creates favorable conditions for environmental protection, implementing green growth, sustainable development, promoting the modernization of infrastructure systems and contributing to strengthening local security and defense.

Located in the Northern key economic region, Bac Ninh is becoming one of the leading localities in attracting investment in industrial parks. Up to now, industrial parks: Yen Phong, VSIP, Que Vo ... have not only achieved great economic efficiency, but also created a positive spillover and resonance effect. From there, it creates a driving force to activate the space for synchronous development of socio-economics and infrastructure, not only for Bac Ninh but also for neighboring localities in regional connectivity. In particular, Yen Phong Industrial Park has become a model for concentrated industrial park development. With the "leading enterprise" Samsung, Yen Phong Industrial Park is a testament to the effectiveness and spillover of a dynamic, innovative, integrated, and sustainably developing Bac Ninh.

Photo: Electronic components production at CrucialTec VINA Joint Stock Company (Yen Phong Industrial Park).

In attracting investment in the coming time, Bac Ninh aims to attract science and technology industries, bringing high surplus value. The science and technology industrial park that the province aims to develop in the "Smart City" project demonstrates that goal. In addition, for sustainable development, Bac Ninh always aims to connect infrastructure with the capital Hanoi and neighboring provinces and cities in the region. Currently, the industrial parks in the province are aiming to attract investment in depth and develop sustainably. Entering the 2021-2025 period, with the explosion of science and technology and new business models, the province is determined to continue to make breakthroughs, bringing the "Smart City" project to a higher level of development, building and developing an innovation ecosystem. Building Bac Ninh into a smart city, strongly developing in science and technology, a destination for investors in the 4.0 era.

Constantly striving to overcome common difficulties and obstacles, Bac Ninh continues to maintain its position in the Top 10 provinces and cities leading the PCI rankings in 2022. Many experts consider Bac Ninh to be "one of the stars" in the PCI rankings. Discussing the difficult period due to the COVID-19 pandemic, Bac Ninh still attracts FDI capital, Mr. Dau Anh Tuan, Director of the PCI Project, said that there are many important factors, such as favorable geographical location, located on the economic development axis of Hanoi city as well as connecting the Northern Key Economic Zone. He emphasized that Bac Ninh has made very systematic and scientific investments in technical infrastructure, helping to improve infrastructure quality, effectively serving the socio-economic development of the locality. Especially in terms of administrative procedure reform, in recent times, Bac Ninh has made significant progress, highly appreciated by the business community. Through many years of investigation, we have recorded that businesses highly appreciate the operational efficiency of the Public Administration Center. The quality of Bac Ninh's infrastructure is always among the top in the country in terms of industrial parks, transportation, internet, electricity, etc.
With the high quality of management shown through the PCI survey, we believe that Bac Ninh will have strong breakthroughs in the coming time to attract FDI, especially quality foreign investors, becoming one of the leading provinces and cities in the country's industrialization.