Effort of Bac Ninh province in getting foreign investment in period of 2013 - 2020, towards 2030

Author: Hoa Nguyen, MBA.,MA.

Bac Ninh province, which is located in the Northern focal economic region, is one of the most successful provinces in getting foreign investment because of its advantages in development and investment environment. Since Bac Ninh was split-ed out of Ha Bac province in 1997, it got positive results in getting foreign investment with 343 projects costing of 4.3 Billion USD in registration. Korea and Japan are the biggest investment countries there. Now, Bac Ninh has 15 industrial zones, 1 information technology zone and 30 industrial groups. Bac Ninh is focusing on getting foreign investment in high technology and environment - oriented industries. In order to support foreign investment towards transparent investment procedures, Bac Ninh People Committee announced the decision No 293/QĐ-UBND, date of 12/8/2013 to approve the project named " Proposal on getting foreign investment in Bac Ninh province, in the period of 2013 - 2020 and a vision to 2030". In this proposal, the achievements and shortages of getting foreign investment in the past 15 years were analyzed in order to propose solutions and orientations for getting foreign investment in the next years.

Investment orientations in Bac Ninh province are provided as following:
 First, Bac Ninh set its priorities for getting investment in Electronic industry, Industrial support and other services, mainly in commerce and tourism, as well as infrastructure.
Second, Bac Ninh encourages partners, who can bring high technology, advanced management methods to support creating edge industries of this province. It also expects to get investment from reputable and strong financial capacity partners.
Third, promotion for social sustains, local incomes increasing as well as another social efficiency is also mentioned in investment orientations of Bac Ninh province.
Fourth, getting foreign investment towards area - oriented is discussed in this proposal. In the north of Duong river area, investment in industries, agriculture and services are encouraged in Yen Phong and Que Vo. The projects on commerce, tourism and urban development shall be focused in Bac Ninh city, Tien Du and Tu Son town. In the South of Duong river area, projects of manufacturing, processing,commerce and services shall be performed in Thuan Thanh while projects of agriculture, commerce, service and infrastructure shall be implemented in Gia Binh and Luong Tai. The most important thing is that Bac Ninh province does not approve projects of manufacturing outside industrial zones.
Bac Ninh province commits to change its mechanism with supportive policies for foreign investment in promoted projects, including:
 - Supports in land clearance
- Supports in training and providing qualified human resources
- Supports in infrastructure building inside and outside projects' fences
- Supports in research and technology transfer as well as creating high technology models.
- Supports in legal procedures
- Open for various investment types such as BOT, BTO, PPP
In the context of international investment growth since Vietnam has become one of the most profitable investment destinations in ASIAN, Bac Ninh's policies shall lead to its success in getting foreign investment. Is it a big question ????