Bac Giang: Vibrant Investment Promotion Activities

10:46:40 AM | 10/9/2014

In recent years, Bac Giang Province has adopted many measures to enhance the exploitation of resources of many sectors and people for socio-economic development. The province has also issued a number of policies to encourage investment as well as implemented administrative reforms to create an open, attractive business environment for domestic and foreign investors, said Mr Bui Van Hai, Chairman of Bac Giang’s People Committee to the Vietnam Business Forum.
Effective investment has contributed to promoting economic development. In the first 6 months of 2014, Bac Giang attracted 37 domestic investment projects with the registered capital of VND1,993 billion, 30 foreign direct investment projects (FDI) with registered capital of US$146.6 million. Implemented capital of those projects in 2013 reached VND4,900 billion and US$175 million, respectively. In 2013, there were 25 domestic investment projects and 15 FDI projects in operation, employing about 6,500 workers.
After years of attracting investment, it has achieved certain results. Some industrial production projects have completed investment and will soon go into production to create new products, contributing to the growth of industrial production in the area in the early stage of the industrial development such as production and processing of touchscreen panels (TP) project, liquid crystal display (LCD) devices and liquid crystal module (LCM) projects of Wintek Vietnam Co., Ltd.
The production value is estimated at VND36,475 billion according to plan, up 27.2 percent compared to 2012. Foreign invested sector has the highest rate of growth with production value estimated at VND22,855 billion, accounting for 101.6 percent of the plan, up 41.4 percent compared to 2012. In addition, Bac Giang has the advantages of more than 2,230 monuments along with traditional villages, such as Tho Ha pottery, Van wine, Chu noodle, Ke pancakes, etc. There are also monuments along the western slopes of Yen Tu mount such as Cam Son Lake, Khuon Than Lake, Suoi Mo, Khe Ro Primeval forest, and West Yen Tu Reserve. The rich landscapes are favourable conditions for Bac Giang to develop spiritual culture tourism, eco-tourism and resort. Bac Giang invites investors to build tourist and entertainment centres, resorts and luxury hotels.
Development in attracting investment is due to the efforts to implement investment promotion activities more eventfully by all levels and sectors in the province. The investment promotion activities have made positive and effective changes which are developing and updating the investment promotion materials, mechanisms, incentives, supporting investment policies and portfolio projects calling for investment. Bac Giang has developed and effectively implemented projects such as improving investment climate, enhancing provincial competitiveness index, and promoting capacity for staff working in investment promotion. The types of planning mechanisms, incentives, supporting investment policies in the province have been completed. Currently, the province held two investment focal points: the Industrial Park Management Board is the focal point for receiving investment documents and investment certificates for investment projects in industrial zones (IZ); the Department of Planning and Investment acts as inter-focal to receive the investment projects outside the industrial zones and the advisory bodies for the Provincial People’s Committee (PPC) to implement state management of investment in the province, verifying records for certification of investment project located outside the IZ.
To enhance the supporting activities for business, Bac Giang promotes trade and export promotion and expands export markets for the province. It has also established the local unit to solve business problems in the area. The main tasks are capturing information, monitoring, forecasting and timely proposing solutions to address the difficulties of enterprises in the process of project implementation as well as business operation. It also organizes periodically dialogues between the state agencies and enterprises about tax, customs and land.
Ngo San