From a purely agricultural province, after 25 years of re-establishment, with increasing industrial scale, Bac Ninh became the center of electronic industry and high-tech industry in the whole country.
GRDP increased 23.8 times; Bac Ninh ranked 8th in the country in terms of economy scale
From a purely agricultural province with inconvenient infrastructure, Bac Ninh has basically become a modern industrial province. The province’s economy continuously grew at a high rate (average period 1997-2021 reached 13.9%/year); GRDP in 2021 was 23.8 times higher than in 1997 (in 2021, it increased by 6.9%, ranking 13th in the country); economy scale ranks 8th in the country; GRDP per capita reached 155.6 million VND, ranked 4th in the country; economic structure shifts towards industrialization and modernization, in 2021, the industry-construction, services, and agricultural – forestry and fishery sector accounted for 77.3%, 16.1%, and 2.7%, respectively.
The province has established 16 industrial parks with a total area of 6,398 ha. In 2021, the industrial production value was estimated at nearly VND 1.5 million billion, more than 1000 times higher than in 1997s, ranking first in the country.
The rapid increase in industrial-scale makes Bac Ninh become the center of the electronics industry and high-tech industry of the whole country. Industrial zones and clusters have attracted investors from major markets such as the EU, the US, Japan, and South Korea in a selective way, with the presence of many power and electricity & electronics corporations, businesses, and brands all over the world such as Samsung, Foxconn, Canon, Power Plus Technology, etc.
Bac Ninh leads in FDI attraction in the first 2 months of 2022
According to the Foreign Investment Department (Ministry of Planning and Investment), in the first two months of 2022, Bac Ninh led the country in attracting foreign investment capital (FDI) with a total registered investment capital of more than 1.3 billion USD, accounting for 26.5% of total registered investment capital and nearly 7.6 times higher than that in the same period in 2021.
Mr. Nguyen Quang Thanh, Deputy Director of the Department of Planning and Investment of the province, said that Bac Ninh has promulgated and promptly implemented many appropriate solutions to support, remove difficulties, and create favorable conditions for businesses such as updating information on orientation, socio-economic development policies, industries and fields prioritized to be called for investment calling in the province, removing congestion of transport infrastructure, logistics, and human resource quality.