Bac Ninh rolls out red carpet to welcome US investors
A working delegation of the northern province of Bac Ninh led by Vice Chairman of the provincial People’s Committee Ngo Tan Phuong attended a workshop in Washington DC on April 20 to promote the locality’s investment opportunities to local businesses.
Speaking at the event, Phuong introduced participants to the province’s potential and strengths in attracting investment in general and foreign investment in particular.
Bac Ninh has a very convenient geographical position, as it is adjacent to Hanoi capital, and only more than 30 km from the city’s Noi Bai international Airport. It also has 12 modern concentrated industrial parks and is focusing on administrative reform, Phuong said.
According to him, despite having the smallest area in Vietnam, Bac Ninh ranked third in the country in terms of foreign investment attraction in the first quarter of this year, with over US$565 million.
As of March 20, the northern province had licensed 1,867 FDI projects totaling more than US$23.9 billion of businesses from 39 countries and territories. Of the total, US firms had 19 projects with a combined capital of US$216.6 million.
In the coming time, Bac Ninh will pioneer investment promotion activities in the semiconductor field and inaugurate the largest semiconductor factory in Southeast Asia. It prioritises attracting investment in green and hi-tech projects such as batteries for electric vehicles, semiconductors, computer chips, and supporting industries, he added.
At the event, representatives of the delegation and the Vietnamese Embassy answered US businesses’ queries on the legal corridor, investment procedures, and the province’s incentives.
Many enterprises showed their interest and hope that the embassy and Bac Ninh authorities will help them connect with Vietnamese firms for business and investment cooperation.