Breakthrough: From an Agricultural Province to an Industrial Powerhouse, Leading the Nation in Foreign Investment

Bac Ninh, Vietnam’s smallest province in terms of area, is located in the northeastern part of the country’s capital, Hanoi, in the Hong River Delta region. In 1997, the province was re-established with eight municipalities, including one class IV and seven class V urban areas. Today, after 27 years, the province boasts one class I city (Bac Ninh), one class III city (Tu Son), three class IV towns, and four class V towns.

At a recent conference on the socio-economic situation for the first nine months of 2024 and the preparation for the Party Congress at all levels for the term 2025-2030, Vice Chairman of the Provincial People’s Committee Le Xuan Loi shared that Bac Ninh has made remarkable progress since its re-establishment 27 years ago, transforming from an agricultural province into an industrial hub with many leading indicators.

In the past nine months, the province’s socio-economic situation has seen positive changes, with a 5.52% increase in GRDP compared to the same period in 2023. The industrial production index rose by 7.5%, trade and services activities increased by 9.1%, and budget revenue grew by 20.5%. Notably, foreign investment attraction reached over $4.5 billion, ranking first in the country.

According to the Bac Ninh Newspaper, the province currently has 16 approved concentrated industrial parks, 12 of which are already operational. Fifteen industrial parks have been established, and the occupancy rate of leased industrial land according to the plan is over 60%.

These concentrated industrial parks in Bac Ninh are home to nearly 1,400 projects, contributing over 80% of the province’s total industrial production value. The import and export turnover has consistently achieved high and stable growth, accounting for approximately 90% of the province’s total export turnover.

To date, the Bac Ninh Industrial Zones Authority has granted investment registration certificates to approximately 1,450 FDI projects with a total investment of nearly $26 billion from 37 countries and territories (the province has over 2,400 projects from 41 countries and territories). Among these are large-scale projects from multinational corporations such as Samsung, Canon, Foxconn, and Goertek.

Bac Ninh has successfully attracted high-tech and new technology projects, such as semiconductor and electronic circuit board manufacturing, with notable examples including Amkor Technology and Victory. The quality of projects has been consistently improving, with an average investment rate of approximately $13.67 million per project and $11.19 million per hectare.

Looking ahead, Bac Ninh aims to have four cities, two towns, and two districts by 2030. The province is striving to complete the criteria for a class I city by 2027 (marking the 30th anniversary of its re-establishment) and become a centrally-governed city before 2030.

Bac Ninh is strongly focused on effectively implementing the provincial planning for the 2021-2030 period, with a vision towards 2050, as well as the master plan for Bac Ninh city until 2045, which has been approved by the Prime Minister.

The key emphasis is on the effective execution of 25 out of 26 subdivision plans approved by the Provincial People’s Committee to promote investment attraction and the development of urban, commercial, service, cultural tourism, and regional-level commercial centers. This includes large-scale projects such as dry ports (ICD), logistics centers, urban rail and underground transportation, and intra-regional and inter-regional connectivity.