March 15, 2024 | 09:00 GMT+7

Bac Giang Province Attracts $124 Million Investment for Industrial Expansion

Giang Hoang -

With two key projects underway, Bac Giang province is poised to enhance its industrial landscape, promising significant job creation and economic growth.

The People's Committee of Bac Giang province on March 13 issued investment registration certificates and the implementation plan for two pivotal projects aimed at constructing and operating infrastructure in Phuc Son Industrial Park by Le Delta Corporation, and the expansion of Viet Han Industrial Park by Fuji Phuc Long Development Co., Ltd. 

The Phuc Son Industrial Park project is situated in Phuc Son commune and Lam Cot commune, Tan Yen district, with a total investment capital of USD 74 million. Meanwhile, the expanded Viet Han Industrial Park project is being carried out in Hong Thai, Tang Tien, and Nenh wards, Viet Yen town, with a total investment capital of nearly $50 million.

As per the plan, by January 2025, both projects are slated to commence attracting secondary investors. Upon completion and achieving full occupancy of 100% of the industrial land, they are expected to generate job opportunities for approximately 42,000 workers.

Representing the provincial People's Committee, Vice Chairman Mr. Phan The Tuan highlighted Bac Giang province's extensive efforts in economic and social development, particularly in industrial growth. The continuous improvement in the investment and business environment, coupled with active implementation of administrative procedure reforms and legal support at all levels, has created favorable conditions for investors and businesses to conduct feasibility studies, surveys, and investments within the province. Through tangible and specific actions, Bac Giang has emerged as a destination of choice for many domestic and foreign investors.

Mr. Tuan emphasized the significant contribution of investors and businesses to Bac Giang province's industrial development process.

Furthermore, Bac Giang province has received approval from the Prime Minister to establish 9 industrial parks covering a planned total area exceeding 2,252 hectares, with an occupancy rate surpassing 68%. This favorable scenario positions Bac Giang province to further propel industrial development in the foreseeable future, aiming to become a modern industrial province by 2030. The goal includes achieving a Gross Regional Domestic Product (GRDP) ranking among the top 15 provinces and cities nationwide and leading in the Northern Midlands and Mountainous region.

Mr. Phan The Tuan reaffirmed Bac Giang province's determination to accompany and support investors in expeditiously completing the infrastructure of industrial park projects, thus attracting investments and driving the province's economic development alongside ensuring the success of investors.

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