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Bac Giang improves business climate


Hanoi: The northern province of Bac Giang will continue improving its business environment and strive to secure its position in the top five most competitive cities and provinces in the nation, according to the Director of the Provincial Department of Planning and Investment Bui Thi Thu Thuy.

Thuy said the locality will focus on removing bottlenecks and barriers to facilitate investment attraction and socioeconomic development, adding limitation in the planning work and management of resources, environment, construction and labour will be also given due attention.

According to Thuy, the province will effectively carry out master plans that help shape up new development space while moving to train human resources to meet the requirements of the market.

Resources will be mobilised to create breakthroughs in economic infrastructure, with a focus given to the development of transport infrastructure that help promote connectivity with ports, airports and national highways. In the meantime, the province will dev
elop industrial infrastructure, urban infrastructure and social infrastructure to lure investment and turn itself into a centre of development of the region and sub-region.

Bac Giang will enhance support for investors in tackling challenges and difficulties while operating in the locality. Accordingly, regular meetings and dialogues will be organised so that local authority will have a deeper insight into the firms’ problems and develop rational solutions.

As part of the efforts to form a sound, green and safe working and living environment that meet the need of investors as well as domestic and foreign experts, Bac Giang will pay due regard to advanced logistics, banking, customs, cartering, entertainment and healthcare services at industrial parks and clusters. Those are bold steps to create a green and sustainable industrial ecosystem that contributes to improving the Provincial Green Index (PGI).

With an index point of 72.8, Bac Giang moved up 29 places to the 2nd in the Provincial Competitiveness Inde
x (PCI) ranking in 2022. The result was a vivid illustration of the province’s progress in business climate improvement.

Last year, it worked to improve the attitude of the public servants while giving services to local businesses and people. Meanwhile, its investment promotion activities have been carried out in a practical fashion, with priority given to powerful investors and projects that apply advanced technologies and are environmentally friendly.

The provinve carved out impressive achievements in 2023, with the gross regional domestic product (GRDP) growth expanding 14.45%, or 2.5 folds higher than the country’s average and investment attraction topping 3.2 billion USD, comprising 3 billion USD in FDI.

With an ambitious target of achieving an average annual industrial growth rate of 21.5% from 2021 to 2025, the province aspires to propel its industrial production value to approximately 677 trillion VND (28.2 billion USD) by 2025, marking a significant leap.

The province’s industrial development str
ides have yielded tangible economic benefits as it has successfully attracted both domestic and foreign direct investments, with 452 active projects, including 339 FDI projects and 113 domestic ones valued more than 9 billion USD.

Beyond economic metrics, Bac Giang’s industrial surge plays a pivotal role in employment generation and labour quality improvement. The influx of industrial projects annually injects vitality into the local labour market, facilitating the shift from traditional sectors like agriculture and forestry to industrial, construction, and service domains./.

Source: Vietnam News Agency

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