Bac Giang Province Ready for New Investment Flows

4:20:36 PM | 29/9/2005

The province has an ideal location, next to the northern key economic zone, 50 km from Hanoi, 100 km from China and Cai Lan deep water seaport. It is also linked with land, rail and water transport network. The mineral resources of the province include coal (150 million tonnes), clay (400 cubic metres), kaolin, iron, copper and gold. The exploitation of minerals is facilitated by the 200MW Son Dong thermo-power plant.
The workforce of the province is some 950,000 people with additional 150,000 in 2010, meeting the demand of human resources for industrial development. At present, the province has 24 training centres and will increase to 38 in 2010 with annual enrolment of some 16,000 trainees. 4,000 students graduated from universities and colleges will increase the workforce of the province.
With the advantage of a large area, the province reserves its best locations for the development of industry, handicraft and rural industries. In addition to Dinh Tam IZ (101 hectares), industrial centres Song Khe - Noi Hoang (250 hectares), Dong Van automobile (40 hectares) and 20 other centres, Bac Giang is developing Quang Chau Industry and Commerce Centre (600 hectares) to attract investors inside and outside the province.
Bac Giang has the largest area of fruit trees in Northern Vietnam. Together with forestry products and raw materials, the province is most favourable for the development of processing industry.
Tourism can be developed with famous landscapes and historical relics such as the Mo stream, Cam Son, Khuon Than and Suoi Nua lakes, and Khe Ro reserves, Hoang Hoa Tham historical relic, Vinh Nghiem and Bo Da pagodas, together with over 100 classified historical-cultural relics and annual cultural and traditional festivals.
Efficient investments
In recent years, local and foreign investments, ODA and NGO projects increased sharply in Bac Giang. In the first eight months of 2005, 13 local investment projects were licensed with registered capital of nearly VND400 billion, and three FDI projects valued at US$3.4 million, increasing the number of investment projects to 244 including 28 FDI projects and total investment capital to nearly VND9,480 billion and US$38.6 million, 3.8 times that of 1997-2000.
The State budget, ODA and NGO resources have contributed to the development of infrastructure such as bridges, roads, irrigation works, power and water supply, postal and telecommunication facilities, schools and hospitals, especially in disadvantaged areas.
Preferential treatment to investors
Mr Nguyen Cong Bo, Vice-Chairman of Bac Giang People’s Committee said that so far the investment has failed to match with the province’s potential. The province will therefore improve the investment environment focusing on land clearance, administrative reform, and encouraging entrepreneurs in socio-economic development. Services will be upgraded in power and water supply, and communications. The province will amend policies and mechanisms increasing preferential treatment to investors and ensuring them close cooperation and strong support.
”It is time now for Bac Giang to welcome the second wave of investment when Hanoi and neighbouring provinces have already run short of land”, Mr Bo added.