In the first eight months of 2024, total FDI in Bac Giang exceeded 1 billion USD, placing the province in the top 10 nationwide.
Bac Giang leads the country in economic growth
In the first half of 2024, Bac Giang recorded an impressive economic growth rate of 14.14%, the highest in the country. The industry and construction sector saw a sharp increase of 18.11%, product taxes grew by 10.59%, services rose by 6.42%, and the agriculture, forestry, and fisheries sector increased by 1.82% compared to the same period in 2023. Notably, FDI enterprises in Bac Giang contributed significantly to this growth, accounting for over 33% of the province’s Gross Regional Domestic Product (GRDP).
Additionally, Bac Giang’s Industrial Production Index (IIP) for the first eight months of 2024 increased by 27.59% compared to the same period last year. The manufacturing and processing sector continued to play a dominant role with a growth rate of 28.10%. Other sectors, including mining, electricity production and distribution, water supply, and wastewater treatment, also saw growth rates of 2.23%, 6.87%, and 6.53%, respectively.
FDI in Bac Giang exceeds 1 billion USD in 2024
Bac Giang is considered one of the most promising investment destinations, attracting large corporations such as Foxconn, Luxshare, JA Solar, and Hana Micron. According to the Ministry of Planning and Investment, total FDI in Bac Giang in 2024 (the first eight months) surpassed 1 billion USD, ranking the province among the top 10 FDI-attracting provinces in Vietnam. Specifically, there were 54 newly registered FDI projects in Bac Giang, with a total capital of 364.31 million USD, 43 projects with capital adjustments, adding 598.83 million USD, and 33 capital contribution and share purchase transactions amounting to 38.69 million USD.
Foxconn factory in Bac Giang
Currently, FDI projects in Bac Giang occupy approximately 574 hectares of land, with an average investment rate of around 7 million USD per hectare. The FDI sector in Bac Giang employs 209,648 workers, with an average of 348 workers per project.
GRDP scale goal to rank among the top in the country
With its available resources, Bac Giang has set the goal of becoming a modern industrialized province by 2030, with a GRDP scale ranking among the top 15 provinces in Vietnam. To achieve this, the province has developed various plans and strategies to boost effective investment attraction. Specifically, by 2030, Bac Giang plans to establish 29 industrial parks (IPs) with a total area of 7,000 hectares, ensuring an ample supply of industrial land to meet business needs.
As of now, the province has established 9 IPs with an area of 2,252.3 hectares, and 16 IPs have completed planning documentation. This is a significant step forward in Bac Giang’s industrial park infrastructure development, aiming to further attract FDI, particularly high-tech FDI projects.
