The northern province of Bac Giang will be more selective in attracting investment projects. (Photo: )
Bac Giang, (VNA) – The northꦫern province of Bac Giang will be more selective in attracting investment projects, with a focus on high-tech, large-scale projects and those that would churn out competitive products, join the global value chain and significantly contribute to the state budget and social welfare, a local official has said.
Chairman of the provincial People’s Committee Le Anh Duong said from now to 2025, Bac Giang aims to lure investments in industrial development intensively, towards improving productivity, quality and efficiency, and reducing the use of natural resources and energy.
The locality expects to raise investment projects’ contributions to its gross regional domestic product (GRDP) to 60-62 percent by 2025, and 66-68 percent by 2030.
The total disbursed investment is set at 246 trillion VND (10.8 billion USD) during the 2021-2025 period, and 613 trillion VND for 2026-2030.
Meanwhile, budget collection from projects is projected to increase 17 percent each year to reach 5.75 trillion VND by 2025, accounting for 38.3 percent of the province’s total budget collection. The numbers are expected to hit 12.6 trillion VND by 2030, and 52.7 percent.
For projects outside industrial parks and clusters, Bac Giang will only consider big projects that will have great impact on local socio-economic development, and those in disadvantaged areas in Son Dong, Luc Ngan and Yen The districts.
The province will prioritise projects that are able to manufacture products competitive in the global value chain like electronic and electric components and equipment, and machinery.
In the sphere of trade and services, from now to 2030, Bac Giang will attract projects in new urban areas, commercial centres, wholesale markets, luxurious hotels, entertainment, logistics, finance, banking, health care and insurance in Bac Giang city, and resorts in Lang Giang, Luc Ngan, Luc Nam and Yen Dung districts.
To raise the efficiency of investment attraction, Bac Giang will mobilise resources for socio-economic infrastructure construction.
In the first 10 months of this year, Bac Giang attracted more than 871 million USD in investment. Foreign direct investment (FDI) projects in the province in the first months of this year have large scales, mainly in the production of electronic components.
The loc🐽ality has to date lured over 1,300 domestic projects worth some 93.7 trillion VND, and more than 480 FDI projects valued at around 6.8 billion USD.
Bac Giang is applying measures to implement its investment promotion programme for 2021 with an aim to attract about 1.3 billion USD worth of investment in 2021, said Chairman of the provincial People’s Committee Le Anh Duong.
The northern province has designed particular areas for projects in different fields, including industry, agriculture, tourism, services, urban areas, logistics, entertainment and health care, he said.
Accordingly, projects in electronic industry will be placed in industrial parks (IPs) and industrial clusters in Viet Yen, Tan Yen, Hiep Hoa, Yen Dung and Lang Giang districts as well as Bac Giang city. Priority will be given to projects producing computers, peripheral devices, semi-conductor accessories and accessories for electronic household appliances, mobile phones, and products for export and joining global value chains.
Meanwhile, garment projects will be located in planned IPs and industrial clusters, while electricity and manufacturing projects will be placed in new IPs and industrial clusters in Hiep Hoa and Yen Dung areas, and agro-forestry and food processing projects in Luc Ngan, Luc Nam and Hiep Hoa districts.
In the field of agriculture, Bac Giang will encourage investment in large-scale, green agricultural projects using high and environmentally-friendly technologies.
In trade-service sector, the province aims to lure investment in developing service-urban areas, thus forming a number of national tourist sites. Urban areas, trade centres, high-end hotels and entertainment centres, as well as projects in logistics, financial, insurance and health care sectors will be developed in Bac Giang city, while a number of resorts will be built in Lang Giang, Luc Ngan and Luc Nam districts.
Bac Giang will also encourage investors to develop tourism projects as well as trade centres, supermarkets, rural markets, retail and wholesale chains, resort and eco-tourism, sport and entertainment complexes and hi-end service-hotel areas in Bac Giang city.
In order to optimise advantages of each region, in 2021 ඣand be𝔉yond, Bac Giang will focus on calling for investment projects in particular regions, with the core being areas along the National Highway 1A and Bac Giang city./.
