Particularly, 493 domestic and foreign investment projects were attracted in the period of 2011 – 2015 with a total capital of nearly 19 trillion VND (over 819 million USD) and 1.4 billion USD respectively while 602 projects were drawn to the province with a total worth of over 40 trillion VND (over 1.7 billion USD) and 2.2 billion USD in the period of 2016 – 2018.

Workers at SamKwang Vina Company Limited erect the telephone component.

According to DoPI’s Deputy Director Nguyen Cuong, Bac Giang is located at an advantage location for investment attraction via the economic cooperation with the adjacent provinces as well as big economic hubs (Hanoi, Hai Phong and Quang Ninh) that helps create enough condition for a direct integration with the development of the Northern key economic region.

However, the decisive factor is the recent solutions issued by the local authority to build up an equal and convenient investment and business environment to draw the investment for enterprise development.

Typically, SamKwang Vina Company Limited (Republic of Korea’s enterprise) (SamKwang Vina) signed a memorandum of understanding (MoU) with Sai Gon – Bac Giang Industrial Park Joint Stock Company at the end of March 2018 to hire 10 hectares of land to build a plant at Quang Chau Industrial Park (Viet Yen district).

After a short period of time (5 months) since receiving the investment approval, SamKwang Vina completed the first stage of construction valued at 40 million USD. It is currently specialized at manufacturing the telephone components and creating the jobs to about 1,500 labors. The first batch of the commodity was exported to its main partners of Samsung Vietnam Company.

As scheduled, SamKwang Vina strives to expand the production scale to realize the revenue of over 300 million USD, recruit 5,000 workers with a total monthly income of 7 – 10 million VND (301 – 431 USD) per person in 2019.

The representative of SamKwang Vina said that it is a record short time to build a plant, install the machine and equipment, train the labor and produce the first products. The result was achieved thanks to important facilitation of Bac Giang provincial authorities of all levels to create favorable conditions in investment procedure, construction plane….

To date, the province has drawn 1,483 valid investment projects, including 1,108 domestic investment projects with the total registered capital of nearly 81 trillion VND (over 3.4 billion USD) and 375 foreign direct investment projects totally worth some 4 billion USD.

The investment projects are the important added capital sources to meet the capital demand for the provincial development investment and economic growth, significantly helping create jobs and increase the income to the labors; further contributing to the provincial budget; promoting the economic structure switch toward positive trend so as to enhance the ratio of industry – construction – service as well as reduce the agricultural ratio in the economy.

Though several positive results were gained in the period of 2016 – 2018, the assessment has shown several shortcomings such as poor quality of investment project, unbalance structure of investment attraction, small scale projects with low execution capital and backward technology, modest contribution to the provincial budget…

Thus, it is necessary for the leaders of all levels, sectors and staff to enhance the activeness, determination and awareness in reforming the investment and business environment in the upcoming time.

Also, the progress of e-government building should be accelerated with information technology application while focusing on training and improving the legal knowledge, professional qualification and responsibility of the public servants and staff, Cuong said.

The local authority was urged to establish an image of dynamic and friendly government which strictly punishes any bad behavior relating to prolong the document handling procedure or harassing the residents and businesses. Besides, it should focus on building the infrastructure on transport, industrial parks and clusters, electric, clean water…in order to increase the provincial investment attraction.

Investment in Vietnamese startups triples in 2018

Investment in Vietnamese startups rose to $889 million in 2018, three times that of 2017.

 

Further improving business and investment environment

(BGO) – Nguyen Van Linh,  Chairman of Bac Giang provincial People’s Committee (PPC) cum Head of the Steering Board for supporting and investing in enterprises in Bac Giang province (Steering Board) on January 15 chaired a meeting to review the status of local investment support and business development in 2018 as well as execute the tasks and solution in 2019.  

 

RoK’s company seeks investment opportunities in Bac Giang province

(BGO) - On 15 January, Chairman of the provincial People’s Committee Nguyen Van Linh received Chulsung Lee, Vice President of STS Development Joint Stock company, Republic of Korea (RoK) and other company members to seek opportunities for investment in Bac Giang. The working session was attended by leaders of the provincial departments of Planning and Investment, Industry and Trade, the Industrial Zone Authorities and the Office of the provincial People’s Committee. 

 

Vietnam works to draw foreign investment to hi-tech industries

A seminar promoting investment to high-tech industry is scheduled to take place in Hanoi on January 14 in a bid to draw foreign investment to the field in Vietnam.

 

US-based investment fund invests in Organica Vietnam

The Small Enterprise Assistance Funds (SEAF) Women’s Opportunity Fund (SWOF) and Organica Investment JSC signed a cooperation agreement in Ho Chi Minh City on January 9 to develop organic food production and trade. 

 

Quoc Phuong