VTV.vn – Bac Ninh has become one of the localities with the largest industrial land fund in the country after merging with 33 approved industrial parks.
Bac Ninh has become one of the localities with the largest industrial land fund in the country after merging with 33 approved industrial parks. Since the beginning of the year, this locality continues to be in the top of the leading provinces and cities in the country, attracting 9.9 billion USD of domestic investment capital and 3.9 billion USD of foreign direct investment (FDI). Intermediary steps are cut out, many special mechanisms are applied… are factors contributing to creating a more open investment environment.
When there is a “green channel” stamp on the file, it means the project meets the criteria and the enterprise is eligible to enjoy a special mechanism to shorten the time to handle administrative procedures. Because of that, the industrial park project of nearly 200 hectares with a total investment of 2,800 billion VND was started after just over 4 months of administrative procedures, instead of taking 1-2 years as before.
Mr. Ngo Ky Duong – Head of Project Management Board, Hanoi – Bac Giang Industrial Park Infrastructure Investment Company said: “After the merger, local administrative procedures are very open. Especially, we are supported a lot in compensation and site clearance. We only cleared the 50 hectares of phase 1 in just over 4 months and had a decision to lease and allocate land.”
Mr. Tran Thanh Son – Head of the Trung Nghia Village, Viet Yen Ward, Bac Ninh Province shared: “The locality has called for land conversion issues here to turn into industrial parks. People also expect the industrial park to be built as soon as possible because it will change the whole life such as solving jobs for people and young people”.
Mr. Pham Van Thinh – Vice Chairman of Bac Ninh Provincial People’s Committee commented: “After the merger, up to now after two months of evaluation, after 8 months, our domestic revenue has reached almost 100% of the combined estimate of both provinces. Secondly, the industrial development indicators are also very high, nearly 20% as of August and higher growth compared to the same period last year of the two provinces. And for the first time, Bac Ninh province leads the country in export revenue”.
The merger of provinces and cities, especially the elimination of many intermediate administrative procedures, is believed to have opened up new development space for industrial real estate, optimizing planning and regional economic development, especially in key economic regions. The wave of investment from countries such as Japan, Korea, and China in the industrial production sector is continuing to gradually fill industrial parks in many provinces and cities across the country.
Mr. Michael Piro – CEO of Indochina Capital commented: “We are witnessing a wave of shifting production activities as well as foreign investment funds to Vietnam. Especially when the development space in localities is expanded after the merger. We have also invested nearly 500 million USD in developing industrial park real estate in Vietnam to catch this wave.”
Infrastructure is gradually being modernized, local and immigrant labor resources are large, and many localities after the merger also issued policies to support training of high-quality human resources and training in the semiconductor industry. This is the key to promoting investment attraction in many localities across the country.
