On February 21, 2024, the Provincial Party Committee – People’s Council – People’s Committee of Bac Ninh province organized a meeting with representative Japanese enterprises in the locality. At the ceremony, Bac Ninh province’s leadership informed that currently, Japan ranks third in terms of total foreign investment in Bac Ninh (after South Korea and Singapore) with more than 150 projects and a total investment of about 1.7 billion USD.
Japanese companies mainly focus on the electronics and mechanical manufacturing sectors, such as Canon, Foster Electric, Hayakawa Electronic Vietnam, Shihen Vietnam, Platec Vietnam, Trois Electronic…
Specifically, Canon Vietnam Co., Ltd with an investment capital of 130 million USD, creating jobs for nearly 10,000 workers. Canon Bac Ninh has developed more than 30 component suppliers, typically satellite investors such as Foxconn, Dragon, Vietnam Germany Company…
Foster Electric Bac Ninh Co., Ltd (VSIP Industrial Park), with an investment capital of 55 million USD, has been in operation since 2010, specializing in the production of headphones for phones and car speakers, providing employment for more than 3,000 workers, achieving an average annual growth rate of nearly 20%.
Other notable enterprises pouring capital into the province include: Seiki (126 million USD), Hanacans (114.4 million USD), Nippon Zoki (90 million USD), Nitto (66 million USD), Toyo ink (55 million USD), Sumitomo (53 million USD), Fujikin (52.45 million USD), Tenma (51.56 million USD), THK (50 million USD), Tabuchi Electric…
In terms of the environment, JFE Engineering Corporation has implemented an investment project to construct a high-tech solid waste treatment plant with energy generation and a total investment capital of more than 58 million USD in Ngu Thai commune (Thuan Thanh town).
Rising to a centrally governed city with 4 cities
Additional information about FDI flows into the province, with 15 out of 16 industrial parks being strategically located with synchronized infrastructure, Bac Ninh continues to be chosen as a safe destination by domestic and foreign investors.
In 2023, the newly registered FDI capital of Bac Ninh increased 2.8 times compared to the same period, ranking 6th nationwide. In the year, Bac Ninh’s industrial parks attracted more than 1.69 billion USD in total, including newly registered and adjusted investment capital. Specifically, FDI capital accounted for over 1.48 billion USD and domestic capital was 199.86 million USD.
Up to now, Bac Ninh’s industrial parks have attracted 1,937 projects, with a total registered investment capital of nearly 25.12 billion USD, including 1,339 second-tier FDI projects with a total newly registered and adjusted investment capital of nearly 21.85 billion USD, 598 second-tier domestic investment projects with a total newly registered and adjusted investment of VND 75.146 trillion, and 24 industrial park infrastructure projects.
With an area of 823 km2, Bac Ninh is the smallest province in the country. The province is located at the northern gateway of the capital city of Hanoi, in the economic growth triangle of Hanoi – Hai Phong – Quang Ninh, so it has many advantages to develop economy and industry.
According to the Bac Ninh province’s 2021-2030 planning, the vision until 2050 has been approved by the Prime Minister, striving by 2030, Bac Ninh province will have 4 cities (Bac Ninh, Tu Son, Tien Du, Yen Phong), 2 towns (Que Vo, Thuan Thanh), and 2 districts (Luong Tai, Gia Binh). Bac Ninh province will meet the criteria for Class I urban areas and become a centrally governed city.
In addition, this smallest province in the country will become a dynamic economic and cultural center of the northern region; one of the growth poles of the Red River Delta region, closely connected to the capital city of Hanoi; having a synchronized and modern economic-social infrastructure system. The average GDP growth rate is 8% – 9% per year. The average per capita GDP is about 346.6 million VND.
