The growth came despite a challenging global and domestic economic environment and erratic storms and heavy rains that affected agricultural production, infrastructure and people’s lives.

Industrial production remains the main driver of Bac Ninh’s economic growth.

In the first nine months, industry and construction grew 13.87%, services expanded 8.88%, while agriculture, forestry and fisheries rose 0.8% due to unfavorable weather conditions. Taxes on products, less subsidies on products, increased 6.35%.

Processing and manufacturing remained the main driver of industrial growth, expanding an estimated 17.17% in the nine-month period.

Several major companies reported strong growth. Siflex Co. Ltd. posted estimated revenue of 16.2 trillion VND (623.4 million USD), up 34.8% year-on-year, while Luxshare Co. Ltd. recorded about 95.3 trillion VND, up 30%. FuYu Precision Co. Ltd. reported estimated revenue of 294.2 trillion VND, an increase of 94%.

Construction also accelerated, with the sector growing 24.14% in the third quarter and 14.58% in the first nine months as major projects entered intensive construction phases to meet deadlines.

Trade and services also recorded strong revenue growth in the third quarter, alongside economic expansion and rising household incomes.

Bac Ninh will continue measures through the end of the year to meet its growth target, focusing on improving the investment and business environment, speeding up site clearance for industrial parks and clusters, attracting new investment and accelerating public investment disbursement.

FDI flows fuel growth of Vietnam’s industrial property market

As ring roads, metro lines and airport connectivity infrastructure are gradually completed in the coming years, demand for housing, industrial property, retail space and hotels is expected to expand beyond traditional urban centres.

Bac Ninh starts expansion of Vietnam Korean Industrial Park

BAC NINH - Bac Ninh province began construction of the expansion of the Vietnam Korean Industrial Park, a 147-hectare project aimed at increasing serviced industrial land and attracting high-quality investment on Septmber 16. 

Bac Ninh starts construction of Nghia Hung industrial park

BAC NINH - Construction of the 2.2 trillion VND (84.6 million USD) Nghia Hung Industrial Park began on September 16 in Tien Luc commune, Bac Ninh province, as part of a series of projects marking the province's establishment as a centrally governed city.

Over 1 trillion VND allocated to build Tien Son industrial cluster in Bac Ninh

BAC NINH - The newly established Tien Son industrial cluster in Van Ha ward covers about 75 hectares and has a total infrastructure investment of more than 1.012 trillion VND (39 million USD).

Bac Ninh breaks ground on 76.4 million USD industrial park

BAC NINH - To mark the establishment of centrally run Bac Ninh city, Gilimex Bac Ninh Industrial Park Co., Ltd. held a groundbreaking ceremony for the Thuan Thanh III Industrial Park - Zone C project, expecting to create a new growth driver for the area south of the Duong River, with a focus on attracting high-tech and environmentally friendly industries.

Bac Ninh to invest more than 1 trillion VND in Nghia Trung industrial cluster

BAC NINH - Bac Ninh province has approved the establishment of the Nghia Trung industrial cluster in Viet Yen Ward, with an area of about 75 hectares and total investment of more than 1.067 trillion VND (41.1 million USD). 

Bac Ninh invests nearly 2 trillion VND in Thuan Thanh III-C industrial park

BAC NINH - Bac Ninh province is investing nearly 2 trillion VND (77.2 million USD) to develop infrastructure at Thuan Thanh III-C Industrial Park, one of the key projects selected to mark the upcoming establishment of Bac Ninh city.