Bac Giang moves to attract more investment from RoK
Defining industry as the main driving force for development, the northern province of Bac Giang has stepped up promotion to attract foreign direct investment (FDI), including capital from the Republic of Korea (RoK).
Van Trung Industrial Park in the northern province of Bac Giang. (Photo: baobacgiang.com.vn)
Bac Giang (VNA) – Defining industry as the main driving force fordevelopment, the northern province of Bac Giang has stepped up promotion toattract foreign direct investment (FDI), including capital from theRepublic of Korea (RoK).
According to Vice Chairman ofthe provincial People’s Committee Phan The Tuan, the RoK now ranks first in the number of FDI projects and ranks second in terms of registered investmentcapital among countries and territories. RoKenterprises accounted for about 25% of the total industrial production value of the FDI sector in the province, 30% of import-export value and 21.3% of the budget contribution,he said.
Provincial leaders and headsof departments and agencies have coordinated with international organisationsin Vietnam and Vietnamese representative agencies abroad through informationexchange and investment promotion including the Korea Trade Promotion Agency(KOTRA) to introduce Bac Giang's potential and call for investment in thelocality.
The province has issued aGreen Growth Action Plan for the 2021-2030 period with the goal of developingimportant economic clusters towards increasing production and use of renewableenergy, improving efficiency, and using energy sources economically.
It has focused on investingin developing industries that help solve environmental problems, contributingto promoting economic restructuring, associated with innovating growth modelsto achieve sustainable development goals, Tuan said. Building asmart urban model is considered one of the key solutions that createsmotivation to promote socio-economic development in the province, he said.
The official said he hoped that cooperation between Bac Giang province and RoK partners, who have practicalexperience in developing smart urban, green growth and investment, will be fosteredin the coming time, bringing benefits to both sides.
Bac Giang attr𒊎acted 2.2 billion USD in FDI in the first 10 months of 2023, a two-fold rise from the same period last year./.
The northern province of Bac Giang has attracted 70 foreign direct investment (FDI) projects valued at over 1.38 billion USD so far this year to September 15, a fivefold increase compared to the same period last year, according to the provincial People’s Committee.
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Van Trung Industrial Park in the northern province of Bac Giang. (Photo: baobacgiang.com.vn) 
