In the first 8 months of 2024, total FDI in Bắc Ninh reached nearly $3.47 billion, making it the only province in Vietnam to surpass $3 billion in registered FDI.
FDI in Bac Ninh reaches $3.47 billion in the first 8 months of 2024
Compared to the total FDI in Bac Ninh in 2023, FDI in 2024 has seen remarkable growth. Specifically, in the first 8 months of 2024, Bac Ninh’s total FDI reached nearly $3.47 billion, 2.94 times higher than the same period in 2023, accounting for 16.9% of the country’s total FDI. This makes Bac Ninh the leading province in the country in terms of attracting foreign direct investment, and the only province to surpass $3 billion in registered FDI during this period. The significant growth mainly comes from Amkor Group’s $1.07 billion capital adjustment project in Yen Phong II-C Industrial Park.
In addition, in the first half of 2024, Bac Ninh attracted 244 new FDI projects, a 75.5% increase compared to the same period last year, mainly from China (157 projects), Hong Kong (30 projects) and Singapore (23 projects). Over the years, Bac Ninh has attracted many of the world’s major technology corporations, such as Samsung, Amkor, Hyosung, and Intops, helping the province become one of the country’s key centers for electronics manufacturing and high-tech industries.
FDI attraction target for Bac Ninh in 2024
With positive signs in the early months of the year, Bac Ninh has set a target to attract about $7 billion in FDI for 2024. The province will particularly prioritize attracting high-quality FDI projects with large investments and advanced technology, aiming to enhance competitiveness and promote sustainable development.
To achieve its FDI attraction target, Bac Ninh has implemented many comprehensive solutions. The province has focused on administrative reform, simplifying processes to reduce barriers for investors while upgrading transportation infrastructure and industrial parks to facilitate business operations. Additionally, Bac Ninh has focused on training a high-quality workforce to meet the needs of advanced technology projects. The province has actively organized investment promotion activities and advertised its potential to attract more large-scale projects. These efforts are helping Bac Ninh solidify its leading position, creating a foundation for sustainable development in the future.
