Workers working at an electronic factory in Viet Yen district, Bac Giang (Photo: VNA)
Bac Giang (VNA) – The northern province of Bac Giang has changedits policies on foreign direct investment (FDI) until 2025.
The new policies aim to encourage high-tech projects usinglocally-produced components and materials, undertaking to transfer technologyand employing local workers.
They are also expected to promote FDI in key industriesincluding electronic components, computers, and electric appliances.
Electronic projects are aimed to cluster around industrial zonesin Viet Yen, Tan Yen, Hiep Hoa, Yen Dung districts and Bac Giang city. Apparelindustries are expected to centre around Son Dong, Luc Ngan, Luc Nam and Yen Thedistricts.
These industries will shift their focus from production to modeldesign and distribution to add more value to products.
Mechanical industries are going to be located in Hiep Hoa and YenDung, whereas agro-forestry processing and food industries are situated in HiepHoa, Luc Ngan and Luc Nam, with priority given to vegetables and fruitsprocessing projects that are export-oriented.
To meet the new policies’ target, the province has been takingvarious measures in favour of FDI including upgrading infrastructure,accelerating administrative reforms, improving provincial competitive index,and enhancing local human resources.
Additionally, six dormitories have been under construction innew industrial zones with an expected capacity for 80,000 workers.
In January, total FDI poured into the province was around 67.5million USD, of which 2.5 million USD was the registered capital of two newprojects and 65 million USD was the additional investments of seven adjustedprojects.
In 2021, Bac Giang was among the 10 most FDI-attractiveprovinces nationwide.
The province granted investment approvals to 23 new projects withtotal registered capital of 645 million USD and adjustment approvals to 51projects with additional investments of 686 million USD.
Notably, Fukang Technology Factory, a project with registeredcapital of 453 million USD, has come into phase-1 operation with around 300million USD disbursed. The phase-2 operation will kick in from the second quarterof 2022 and Phase-3 from the second of 2023.
Meanwhile, a photovoltaic cell technology project invested by JASolar Investment (Hong Kong) Limited with registered capital of 200 million USDis set to begin operation in first quarter of this year./.
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Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
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Workers working at an electronic factory in Viet Yen district, Bac Giang (Photo: VNA) 
