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Deputy Prime Minister Vuong Dinh Hue works in Bac Ninh
(BNP) - In the afternoon of January 25th, the Government’s delegation led by Mr. Vuong Dinh Hue, the Politburo Member, Deputy Prime Minister worked with the Bac Ninh’s leaders to assess the foreign investment situation of the province. The working session aims to complete the project on "Orientations to finalize institutions, policies and to improve the quality and efficiency of attraction and use of foreign investment capital till 2030” to submit to the Politburo.
Deputy Prime Minister Vuong Dinh Hue delivers a speech at the working session.
Briefing the Government’s delegation on remarkable achievements in foreign investment attraction of Bac Ninh province, Chairman of the Provincial People's Committee Nguyen Tu Quynh emphasized that Bac Ninh province has continuously boosted promotion and attraction investment, created an open and incentive investment climate for investors at home and abroad, especially making many imprints for FDI investors, for the past years. Therefore, Bac Ninh has become a locality in the top of the country in attracting FDI. From 2014 to 2018, the province attracted 839 FDI projects with a total investment of USD 11 billion. In particular, investment in manufacturing and processing industry accounted for 93.5% (USD 10.72 billion), real estate sector accounted for 3.7%, while warehousing industry amounted to 1.3%, the remaining sectors accounted for less than 1%.
Accumulated to the end of 2018, Bac Ninh has attracted about 1,300 FDI projects from 34 countries and territories with a total capital of 17.2 billion USD (ranked 6th in the country in scale), investing in 14 industries and fields. In particular, the manufacturing and processing industry plays a key role, accounting for 92.8% of the total investment capital.
The contribution rate of the FDI sector to the GRDP of the province increased year-by-year, accounting for 65.4% in 2018. In addition, the FDI sector dedicated positively to the process of international economic integration as well, strengthening foreign relations with countries, big corporations, and organizations around the world, creating a motivation for the province to constantly enhance the business climate and advertise the image of the province.
Deputy Prime Minister gives a souvenir to leaders of Bac Ninh province
Delivering the speech at the meeting, the Deputy Prime Minister Vuong Dinh Hue appreciated the results of FDI attraction in Bac Ninh province over the past years and affirmed that FDI enterprises are an important factor contributing to the boom of not only Bac Ninh province but also the whole country.
During the new development phase, the Deputy Prime Minister ordered Bac Ninh province to make industrial planning in association with urban development in the process of building a centrally-run city. At the same time, the province needs to have solutions to shift labor in agricultural and rural areas for good improvement of labor productivity; to pay attention to and care for the capacity development of domestic enterprises, because this is a factor to make a free economy associated with international integration.
Expressing the gratitude to the Deputy Prime Minister for his comments, Mr. Nguyen Nhan Chien, the Secretary of the Provincial Party Committee requested the departments and agencies to take seriously the direction of the Deputy Prime Minister to concretize into the Action Program in 2019 and the following years so that Bac Ninh would continue to maintain the growth rate as well as finalize the standards to soon become a centrally-run city by 2022.