Attracting investment is still the bright spot of the economy
14:55 19/12/2019
The way of 2019 is entering the sprint stage, in the context of global trade and investment are not as satisfactory as forecast, the world economy slows down with many increasing risk factors, especially the problem of The problem of tension between major economies, but attracting investment in Bac Ninh Industrial Zones, is still a bright spot of the economy.

With an open business environment, security, political stability, favorable trade location, and increasingly improved infrastructure, Bac Ninh still attracts investors. As a result, in the past 9 months, the total newly and additionally registered investment capital in concentrated industrial parks has reached US $ 1,199.29 million (FDI capital is US $ 1,016.39 million; domestic capital is VND 4,206.76 billion equivalent 182.90 million USD). In particular, newly registered capital reached US $ 610.16 million, mainly FDI capital with 85 projects, total registered investment capital was US $ 521.14 million, domestic capital was equivalent to US $ 89.02 million.

Among the newly registered projects is the project of manufacturing electronic equipment, network equipment and multimedia audio products of Goertek Company (Hong Kong) with a total registered investment capital of 260 million. The USD, being one of four new attracting projects with large capital of the whole country, is behind 3 other projects: The project of contributing capital, buying shares of Beerco Limited (Hong Kong) into Vietnam Beverage Co., Ltd., the price the value of contributed capital is US $ 3.85 billion (invested in Hanoi); LG Display Hai Phong project adjusted to increase investment capital by another 410 million USD; ACTR (China) Radian all-steel radial tire project (China) with total registered capital of 280 million USD invested in Tay Ninh.

Along with attracting new projects, existing projects continue to apply for registration to adjust capital increase to expand production scale, which further illustrates the wise choice of investors when Come to Bac Ninh. Specifically, in 9 months, the Management Board of Provincial Industrial Zones issued 357 times to adjust the Investment Registration Certificate, with a total additional investment of 589.13 million USD (FDI is 495.25 million USD, domestic 93 , 88 million USD). In addition, in the first quarter of a new industrial zone infrastructure project, the project "Investment, construction, business, infrastructure development of industrial parks, commerce and services VSIP Bac Ninh II" by VSIP Bac Ninh Co., Ltd is the investor with a total registered capital of 103.91 million USD; Level 1 Representative office license; Adjustment 1 License for establishment of representative office of foreign trader in Vietnam. Thus, Bac Ninh Industrial Zones currently attract 1,429 projects, with total newly and adjusted investment capital of 19,004 billion USD.

The investment projects in Bac Ninh Industrial Zones are mainly FDI enterprises (976 projects) operating in the field of electronics and electronic auxiliary, with projects of leading corporations such as Samsung, Canon. , Hanwha, Foxconn, CrucialTec ... As a result, production and business activities of FDI enterprises always account for a large proportion of the industry value of the whole province. Although the early months of 2019 witnessed the saturation of the global mobile market, it also directly affected Korean products, fierce competition from Apple (USA) as well as Chinese electronics firms (Huawei, Oppo, Xiaomi, ...); Besides, Samsung's Galaxy S10 product has not been as successful as expected, also affecting the growth of the entire electronics industry in Bac Ninh Industrial Zones. However, in the third quarter, export revenue of Samsung Electronics began to grow again, namely: July increased by 10% compared to June, August increased by more than 18% compared to July (2,220 / 1,216 million USD) ... Similar to Samsung Display Co., Ltd, export revenue in July reached US $ 1,236 million (an increase of US $ 316 million compared to June); in August, it reached US $ 1,646 million (an increase of US $ 410 million compared to July) ... As a result, the export turnover of the IZs in 9 months reached nearly US $ 28 billion, the import value reached over US $ 17 billion. Industrial production value reached VND 770,000 billion, making a positive contribution to the province's economy.

The remaining time of 2019 is not much, while the factors of difficulty and convenience are intertwined. In the current context, Bac Ninh continues to pursue policies to attract foreign direct investment, giving priority to investors with modern technology lines and advanced management levels in accordance with production trends. follow the chain of linkages to develop supporting industries. Attention to industries Vietnam is prioritizing development, focusing on a number of service industries to acquire technology, not for investors to seek to take advantage of the cheap labor market and convenient service costs. low benefit.

Translated by Nguyen Mai Huong Chief of Office, Bacninh IZA
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