Foreign investment attraction flourishes on better business climate

Workers at an FDI firm in Yen Phong Industrial Park, Bac Ninh province. (Photo: VNA)

Hanoi – With an unwavering effort to improve the business environment, the northern localities of Bac Ninh, Ha Nam, and Hai Phong continued to attract substantial foreign investments in the first quarter of 2025, including those from world-leading economic conglomerates with advanced and environmentally-friendly technologies.

FDI capital surges

On the first working day of 2025, Bac Ninh province granted investment registration certificates and investment approval decisions to 18 domestic and foreign enterprises, with a total registered capital of 1.8 billion USD. Of the total, foreign direct investment (FDI) reached 1.67 billion USD, fulfilling the province's yearly target.

According to Director of the provincial Department of Finance Nguyen Viet Hung, from the outset of the year, the locality’s FDI attraction has increased 3.9 times in newly registered and additional capital compared to the same period in 2024, keeping Bac Ninh at the forefront of FDI attraction nationwide.

The province has persistently adhered to attracting FDI projects based on the criteria of low land and labour use; high investment rate, high technology, and high economic efficiency; readiness in high-quality human resources, administrative reform, and solving difficulties; and no environmental pollution.

As for Hai Phong, some 4.9 billion USD in FDI capital was secured last year, up 1.3 times year-on-year, making the port city the second most attractive FDI destination. The city has set a target of luring 4.5 billion USD in FDI this year.

Director of the Hai Phong Economic Zone Authority Le Trung Kien reported that since the beginning of the year, the city has enhanced investment promotion in countries with strengths in high-tech industrial development as well as leading global corporations in the domains of electricity, electronics, and semiconductor chips.

Multiple cooperation agreements, memoranda of understanding, and investment commitments in existing industrial parks, the southern coastal economic zone, and shaping industrial parks, have been signed, opening positive prospects in the near future. In the first two months of 2025, the city attracted 278 million USD in FDI, bringing the total figure to 34.31 billion USD. Hai Phong is home to over 1,000 FDI projects from 42 countries and territories, contributing more than 86% of its total export value.

At JFE Shoji Steel Hai Phong Co., Ltd, a Japanese-invested firm in the Vietnam - Singapore Industrial Park. (Photo: VNA)

General Director of Pegatron Vietnam Co., Ltd. Chen Chi Liang said a consistently safe social and business-investment environment is the prerequisite for companies to unceasingly invest in finance, technology and equipment while expanding production scale in Hai Phong city. He added that after five years of operation, from a 275,000 sq.m factory producing electronic components and semiconductors, the firm has put into use two additional workshops exceeding 384,000 sq.m and two more buildings with an area of over 515,000 sq.m for further production expansion.

In the meantime, Ha Nam province is now working to deliver on its target of attracting 1 billion USD in FDI capital, with 50% of the amount already secured in the first quarter, marking an auspicious beginning towards exceeding the goal. With a vision of developing industrial parks integrated with urban areas and services, and prioritising high-tech, environmentally friendly industries, the province continues to select investors with strong reputation and economic potential.

The province has recently received approval from the Prime Minister to establish a 663-hectare high-tech park in Ly Nhan district. It has invested in roads connecting the facility with the Hanoi-Hai Phong and Cau Gie-Ninh Binh expressways.

Expanding infrastructure to welcome major investors

The localities’ leaders have provided substantive and effective support to promote the development of the FDI business sector.

Secretary of the Hai Phong Party Committee Le Tien Chau emphasised that the city is striving to achieve an economic growth rate of 12.5%, contributing the country’s overall growth target of 8% of higher.

Hai Phong is now focusing on developing new economic growth drivers, with the 20,000-hectare southern coastal economic zone, envisioned as a green, multi-sector economic zone meeting international standard. Boasting development pillars in high-tech industry, modern logistics services, smart urban areas, eco-tourism, and new-generation free trade zones, this emerging establishment will enable Hai Phong to pilot new mechanisms and policies, creating an open and favourable investment environment to attract both domestic and foreign resources.

With a determination to concretise the double-digit economic growth target in 2025, Bac Ninh province will continue to strengthen foreign relations and proactively promote investment in potential markets through the end of the year.

Encouraging investment resources in industries and services, with a focus on those with great potential, the province will work with major FDI investors to increase occupancy rates in industrial zones and clusters, ensuring infrastructure readiness for large investment projects.

In Ha Nam province, the local administration has directed infrastructure development and human resources readiness to attract large investment projects. Secretary of the provincial People's Committee and Chairman of the provincial People’s Committee Truong Quoc Huy ordered departments and sectors to remove bottlenecks for enterprises in a timely manner, particularly site clearance and administrative reform./.