Urbanized Bac Ninh: An attractive destination for investors

Bac Ninh province's Master Planning for the period 2021-2030, with a vision to 2050 approved by the Prime Minister, indicated that by 2030, the province will have met the criteria for a first-class urban area and become a centrally run city. However, much work has to be done in Bac Ninh province to attain this aim, such as putting provincial urban development plans into action.

Four cities with strong breakthroughs

Bac Ninh's urban planning calls for 12 urban areas: one first-class urban area (Bac Ninh city), one second-class urban area (Tu Son city), four third-class urban areas (Yen Phong city, Que Vo city, Tien Du city, and Thuan Thanh city), and six fifth-class urban areas (Gia Binh city, Thua city, Nhan Thang city, Cao Duc city, Trung Kenh city, and Lam Thao city).

Bac Ninh has focused on four urban areas that are expected to become second-tier cities before 2030: Yen Phong, Thuan Thanh, Tien Du, and Que Vo. Yen Phong and Tien Du districts want to become cities in Bac Ninh province in the near future. These new cities will contribute significantly to Bac Ninh's industrial growth. They will focus on developing high-tech areas, attracting major investment from both domestic and international enterprises.

Mr. Nguyen Van Hoan, Deputy Director of the Bac Ninh Department of Construction, stated that the aims for these two districts are generally achievable. Tien Du district has been very urbanized, with some notable developments. Lim town, in particular, is being upgraded to sixth-class urban status, with aspirations to become a Bac Ninh province-run city before 2030. Tien Du presently has many key industrial parks, including Tien Son, Dai Dong - Hoan Son, and VSIP, which attract a large number of investors and contribute to the acceleration of urbanization and the local economy. This district is also making large investments in infrastructure and building a contemporary urban identity.

Similarly, the Yen Phong district is quickly urbanized, with a heavy focus on industry and services. Yen Phong's urbanization is increasing due to projects like Kim Do Policity, expanded Chờ town, and other urban areas. By 2025, the Yen Phong district intends to increase the urban population ratio and continue to build urban infrastructure connected to industrial zones to suit the needs of residents and enterprises. Yen Phong is also aiming to develop a modern and civilized urban area with significant expenditures in transit infrastructure, lighting systems, highways, and public spaces.

Meanwhile, Thuan Thanh and Que Vo towns are expected to grow into modern urban areas. Thuan Thanh is recognized as a main urban hub in the south of the Duong River, experiencing rapid expansion and emerging as a driving force in the region's socioeconomic development. Que Vo's urbanization rate has risen to 60.3%, indicating rapid growth and significant urban economic potential.

Mr. Nguyễn Văn Hoàn stated that Thuan Thanh and Que Vo have prioritized sustainable planning, aligning with the Bac Ninh province's overall objective of improving the urban landscape and people's living conditions in the future.

A great opportunity for investors

Bac Ninh has grown as a significant industrial hub in Northern Vietnam, with large industrial zones like VSIP, Yen Phong (I, II, IIc), and Que Vo (I, II, III). According to the Bac Ninh Institute for Socio-Economic Development Studies, the centrally planned city will continue to attract investors for modern infrastructure projects, increase transportation and logistics services, and connect vital economic locations like Hanoi and Hai Phong.

As a result, increased urbanization and the expansion of first-tier cities will drive up demand for housing, new urban areas, and commercial hubs. This will open new opportunities for property developers, particularly those interested in building high-end residential areas and supporting social infrastructure like schools, hospitals, and shopping centers.

Bac Ninh's population will continue to rise as a result of rapid urbanization, especially with the influx of migrant workers employed in huge industrial zones. This will drive up demand for housing and commercial services, opening the way for new residential complexes, shopping malls, and communities.

Bac Ninh's goal of becoming a centrally run city would increase land value, especially in growing areas like Tu Son, Yen Phong, and Que Vo. The new roads and sophisticated infrastructure will increase land values in this location, resulting in profits for property developers.

Furthermore, Bac Ninh is significantly investing in its transportation infrastructure, which includes connections to Hanoi and other provinces. This not only enhances the quality of life for residents, but it also attracts further investment from other companies, increasing the value of Bac Ninh's residential developments.

However, the Bac Ninh Department of Construction stated that the province still faces several challenges in attaining its goal of becoming a first-class urban area. Urban planning and management are among the most important challenges. The rapid expansion of industrial zones has resulted in an increase in the mechanical population, which puts additional demand on urban infrastructure and the environment.

To address these issues, several experts urged Bac Ninh to prioritize urban planning, infrastructure investment, improved living conditions, and smart urban management. Furthermore, the province must prioritize the development of the service and tourism industries in order to generate fresh economic growth, contributing to the country's overall development.