Bac Ninh promotes comparative advantages and sustainable development

>> Bac Ninh aims to integrate into regional semiconductor ecosystem

Bac Ninh has grown rapidly as one of the growth poles of the Hanoi Capital Region, as well as an economic engine of the Red River Delta... In the changing conditions, this province has concentrated on green and sustainable development, establishing its own values on new foundations like reform, creative innovation, digital economy, and digital governance...

Comparative advantages

Bac Ninh enjoys multiple advantages over other provinces/cities due to its geographical location in the Red River Delta, its proximity to the vital economic triangle Hanoi-Hai Phong-Quang Ninh, and its status as Hanoi's northeastern gateway. At the same time, Bac Ninh has a highly accessible, synchronous transportation infrastructure that connects it to the Noi Bai international airport and the Hai Phong sea port, as well as the border gates of Lang Son and Quang Ninh, providing strong prospects for commercial exchange and freight transport.

Furthermore, Bac Ninh is endowed by nature, with suitable land and climate conditions for the expansion of agricultural and industrial production. Bac Ninh, in particular, as a province of culture, revolution, cultural heritages, famous traditional villages,... has a lot of potential to promote tourism with numerous and appealing varieties, particularly spiritual tourism mixed with experience tourism, trade villages.

Bac Ninh province's socioeconomic infrastructure system was previously designed, and investment has evolved in a synchronous and contemporary manner with strong interconnection. Industrial, urban, and service infrastructure, particularly logistics services and warehouses, are heavily invested in order to further improve Bac Ninh's advantages as a trade and warehouse hub, as well as the Northern Midland and Mountainous Region.

Bac Ninh has rapidly developed into a sophisticated industrial province. Bac Ninh's economy grew significantly, with strong contributions from industry, trade, and services. Many significant FDI investors, including Samsung, Canon, Amkor, and Goertek, have opted to invest here.

>> Bac Ninh posts 10.4% economic growth in 9 months

Mr. Vuong Quoc Tuan, Alternate Member of the Central Party Committee, Standing Vice-Chairman in charge of the Bac Ninh Provincial People's Committee, stated that Bac Ninh province's goal for 2021–2030 is to achieve high-quality economic growth that is sustainable, aligned with people's well-being, and promotes social justice. Bac Ninh has worked hard to establish itself as a growth hub in the Red River Delta and a prominent province in Vietnam. Its goal is to become a centrally run class I city that embodies high-quality living and is clever, inventive, environmentally friendly, and culturally diverse. This also gives Bac Ninh an advantage in its next stage of development.

Creating a sustainable and inclusive development space

The Bac Ninh province plan for 2021–2030, with a vision to 2050 approved by the Prime Minister of the Government, clearly defined the goal: by 2030, Bac Ninh will be a centrally run city; a dynamic economic and cultural center of the northern region; one of the development poles of the Red River Delta, closely connected to Hanoi Capital; and have a synchronous, modern socioeconomic infrastructure system. Defense and social security are assured. People lead an affluent, civilized, and joyful existence.

In order to achieve these objectives, in addition to the current potential, Bac Ninh has continually produced new advantages, particularly "soft advantages." As a result, in order to generate "dynamic" comparative advantages and boost competitiveness in attracting investment, Bac Ninh has prioritized administrative reform, reducing obstacles and hassles for investors, and providing a favorable investment environment for businesses. Administrative reform is carried out by provincial authorities at all levels and industries, providing actual advantages to both people and businesses.

In addition to the general incentives specified by law, Bac Ninh has its own mechanisms and policies, such as: legal support for enterprises in accordance with approved annual plans; development of the model of “business doctors”; establishment of special working groups to support enterprises; development and evaluation of the District and Department Competitiveness Index (DDCI), Par Index, DTI...

Mr. Nguyen The Hong, Chairman of Bac Ninh province Association of Small and Medium-sized Enterprises, stated that many investors believe the business environment in Bac Ninh is fairly favorable and transparent based on measures such as administrative reform, enterprise service... The province's economic management continues to develop; business support has changed positively; informal charges are decreasing; market entry processes are more favorable, and the quality of execution between levels is widening.

"I am confident that, when there is a good foundation and a good time, Bac Ninh will make good use of it to make a breakthrough in economic and social development, to further develop, and to affirm its position as one of the major economic centers of growth in the northern region," said Nguyen The Hong.