1. In the first nine months of 2024, Bắc Ninh province has established itself as a frontrunner in attracting foreign direct investment (FDI) within Vietnam, achieving over US$4.2 billion in investments.
2. This notable influx is largely credited to a robust investment climate characterized by advanced infrastructure and a skilled labor force, which positions Bắc Ninh as a highly appealing destination for foreign investors.
3. The provincial Department of Planning and Investment reported that foreign investors committed US$1.56 billion to 339 projects, marking an impressive year-on-year increase of 82.2% in total investment and a 28.4% rise in project numbers.
4. Further reinforcing its investment appeal, Bắc Ninh saw 147 FDI projects adjusting their capital expenditures over the same period, leading to an additional allocation of US$2.68 billion. This flexibility demonstrates the province’s proactive approach to fostering business growth and optimizing the operational environment for foreign enterprises.
5. Notably, September alone witnessed the approval of nine new projects totaling US$57.8 million in registered capital, underscoring the ongoing robust interest from international investors—particularly highlighted by a substantial real estate investment from Singapore.
6. Bắc Ninh currently hosts over 2,400 valid FDI projects with a cumulative investment value of US$29.3 billion, showcasing a successful strategy for attracting and retaining foreign capital.
7. Local leaders actively engage with major FDI firms such as Samsung and Canon to alleviate operational challenges and enhance the business ecosystem. Samsung Display Co. has plans to invest US$1.8 billion in a cutting-edge OLED manufacturing plant, elevating the company’s total investment in the province to US$8.3 billion.
8. Geographically, Bắc Ninh’s strategic location within the Red River Delta and its comprehensive network of highways and waterways enhance its economic infrastructure, while proximity to Noi Bai International Airport reduces logistics costs for businesses.
9. Performance metrics indicate that Bắc Ninh ranks third nationally in the Vietnam Provincial Governance and Public Administration Performance Index (PAPI), signaling effective governance but also highlighting areas for improvement regarding public administrative procedures and environmental governance.
10. As Bắc Ninh continues to strengthen its infrastructure and investor relations, it is well poised for sustained economic growth in the future.
BAC NINH PROVINCE SHOWS GREAT POTENTIAL FOR INDUSTRIAL REAL ESTATE
1. Experts suggest that the industrial real estate sector is increasingly playing a vital role in attracting foreign direct investment (FDI) and boosting domestic production. With the rapid expansion of its industrial parks (IPs) and critical transportation infrastructure, Bac Ninh is emerging as a strategic industrial hub in northern Vietnam.
2. In the third quarter this year, the province granted investment certificates to a series of major projects, including the FCPV Foxconn Bac Ninh Plant ($383.3 million), the Goertek Nam Son - Hap Linh Plant ($280 million), the Victory Giant Vietnam Project ($260 million), the LOGOS Yen Phong II-A Project ($74 million), and the AAC Bac Ninh Plant ($50 million), and many more.
3. Bac Ninh's success lies in attracting large-scale ventures from globally renowned brands, creating distinct characteristics for each IP, and fostering a network of satellite investors. This has led to the establishment of specialised IPs and supporting industries within a high-quality, synchronised industrial ecosystem, developed by reputable investors capable of executing major projects such as Vietnam Singapore Industrial Park, Viglacera Corporation, Western Pacific Group, and Kinh Bac City Development Holding Corporation.
4. Bac Ninh province has also expanded into new urban areas and social infrastructure, creating a favourable economic environment with secure investment conditions and attractive incentive policies. These are the key factors propelling Bac Ninh to become a leading modern industrial centre in Vietnam and driving sustainable development for the northern economic region.
5. In 2025, the industrial real estate market in Bac Ninh is forecast to continue its robust development, solidifying its position as a major hub in northern Vietnam.
6. The province focuses on developing high-tech, green, clean, and environmentally friendly industries while accelerating the green transformation in IPs and industrial clusters.
7. Additionally, Bac Ninh emphasises promoting the supporting industry sector to enhance the competitiveness of small- and medium-sized enterprises. The province is strengthening regular dialogues with foreign-invested enterprises to promptly address emerging issues, fostering a sustainable development environment.
8. With a vision of becoming Vietnam’s leading electronics industrial centre, Bac Ninh is expediting major industrial projects, especially in high-tech fields such as semiconductor manufacturing, IT, pharmaceuticals, healthcare, and renewable energy equipment.
9. While maintaining electronics manufacturing as its primary driver, Bac Ninh is also diversifying into high-value industries and integrating value chains with research, development, and design.
10. Green and renewable energy-based industrial production is a key focus to elevate Bac Ninh’s position in the global value chain. This initiative promises to continue positioning the province as a growth engine not only for the northern region but also for the entire country in the near future.
Source:
https://vir.com.vn/bac-ninh-province-shows-great-potential-for-industrial-real-estate-119241.html
https://www.thailand-business-news.com/asean/vietnam/170887-bac-ninh-emerges-as-leading-fdi-destination-in-vietnam-through-september-2024#google_vignette
