Becoming a centrally governed city not only boosts market confidence but also raises Bac Ninh's profile on the global investment map. Since the central government approved the establishment of the city, investment in Bac Ninh has surged.

The Southwest interchange in Vo Cuong Ward connects National Highway 1A with National Highway 18.

At a conference announcing the city's master plan to 2050 with a vision to 2075 and recognising Bac Ninh as a first-class urban area, the province granted investment policy approvals, investor approvals and investment registration certificates to 48 projects in urban development, social housing, industrial park infrastructure, trade and services, inland ports, hospitals and foreign direct investment projects.

The projects have a combined registered investment capital of nearly 180 trillion VND (6.9 billion USD).

The shift is not only in the volume of capital but also in its quality, with investment increasingly focused on technology and higher value-added sectors.

Of the total, 3.659 billion USD is earmarked for eco-urban development, 1.916 billion USD for trade, services, healthcare and social housing, 1.038 billion USD in foreign direct investment for industrial manufacturing, and 314 million USD for industrial park infrastructure.

The figures show that Bac Ninh's new position is strengthening its investment advantages.

Multinational corporations are no longer primarily looking for factories or a large pool of unskilled labour, but increasingly for a complete industrial ecosystem and urban environments meeting international standards.

Alongside high-tech foreign investment, Bac Ninh's new status is also helping mobilise domestic capital. In July, eight urban development projects and six projects in trade, services, ports and healthcare attracted a combined 4.1 billion USD in investment.

According to the provincial Department of Finance, private companies' proactive investment in modern commercial and service infrastructure and high-end real estate is not only anticipating demand for housing and consumption from skilled workers but also helping rebalance the structure of investment capital.

In response, Bac Ninh is seeking to optimise investment resources through coordinated reforms in institutions, budget management and planning administration.

The province is also urgently reviewing, preparing or adjusting zoning plans, detailed plans and specialised technical infrastructure plans to ensure compliance with the overall master plan, while simplifying and publicly disclosing procedures relating to land, investment and construction.

Bac Ninh is consistently pursuing a strategy of using public investment to lead private investment, with state budget resources focused on key transport projects and inter-regional and international connectivity infrastructure.

Contractors work on the Ring Road No. 4 project through Bac Ninh province.

The province is applying transparent public-private partnership models with balanced interests to create spillover effects and maximise private investment in urban technical infrastructure.

It is also digitising planning and publishing information on available land on digital platforms to give investors access to official data.

At the same time, Bac Ninh is tightening project monitoring, taking firm action against delayed projects and recovering land from cases showing signs of speculation.

The aim is to reallocate available land to investors with genuine financial and management capacity and ensure that land resources are used efficiently.

Alongside infrastructure development, Bac Ninh needs to shift from a policy of "attracting investment at all costs" to selectively choosing projects based on environmental criteria and their potential to transfer technology to local businesses.

Promoting a growth model driven by science and technology, innovation, high-tech industries and the digital economy will provide new growth momentum, helping Bac Ninh develop in a green, smart and sustainable manner.

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