Bac Ninh business environment for investors

According to the Department of Planning and Investment of Bac Ninh province, with an open investment environment, modern infrastructure, a large local and immigrant labor force, Bac Ninh has been affirming its position as an attractive destination for investors.

1. Bac Ninh leads the country in attracting FDI capital

In the first 11 months of 2024, investment attraction achieved outstanding results, not only increasing sharply in the number of projects and investment capital, but also a wave of investment into the province from major countries in the Asian region, such as Japan and South Korea in Bac Ninh FDI in electronics industry, and semiconductor industry. This further affirms the significant qualitative changes in attracting FDI trends in Bac Ninh province.

The results of the above efforts are clearly demonstrated through many impressive figures. According to the Foreign Investment Agency, Ministry of Planning and Investment, in the first 11 months of 2024, Bac Ninh as an FDI destination led the country in attracting FDI, with a total registered investment capital of nearly 5.04 billion USD, accounting for 16% of the total investment capital of the country, more than 3 times higher than the same period.

Also according to the Department of Planning and Investment of Bac Ninh province, from the beginning of the year to November 20, the whole province has attracted 359 newly registered FDI projects (an increase of 10 projects, or 2.9% over the same period last year, in which investors mainly come from China with 223 projects; Singapore: 41 projects; Hong Kong: 39 projects).


Government incentives for FDI in Bac Ninh

In November alone, new investment registrations were granted to 11 projects with a total registered investment capital of 212.47 million USD (including 4 large projects including: 2 projects from Taiwan investing in the manufacturing of sports equipment with capital of 72 million USD and 28 million USD respectively; 2 projects from Singapore, including 1 project investing in the real estate business with a registered capital of 64.48 million USD and 1 project investing in the manufacturing of plastic products with a registered capital of 30 million USD); capital adjustment for 12 projects with an increased adjusted capital of 246.3 million USD. Up to now, the whole province has 2,418 valid FDI projects, with a total licensed investment capital of more than 29.8 billion USD.

2. Effective and practical forms of on-site investment promotion

To achieve the above breakthrough results, practice shows that Bac Ninh business environment for investors has had a creative and drastic approach in implementing many forms of FDI promotion.

Regarding the form of on-site FDI promotion, the Department of Planning and Investment of Bac Ninh province said that the province has effectively implemented many solutions, such as: (1) The province has proactively met and worked with large enterprises investing in the locality, to promote the expansion of production scale and call for satellite enterprises, such as: Samsung Vietnam Complex, Canon Vietnam Co., Ltd.; typical Chinese, Taiwanese, Japanese enterprises…; (2) The Provincial leaders and functional departments of Bac Ninh have received many domestic and foreign business delegations to the Province to explore opportunities, to discuss cooperation, promote investment, etc.

It is by promptly listening and thoroughly and effectively resolving difficulties and problems for investors, helping them to produce and do business with good results, that Bac Ninh as an FDI destination has created a “good reputation far and wide”, when FDI investors become the ones who help the Province promote FDI trends in Bac Ninh province.

3. Implementing forms of investment promotion abroad: Focus on high-quality markets

In addition to the factor of “Heavenly time, favorable location, and harmony”, along with proactively and actively implementing forms of on-site investment promotion, one of the secrets that helps Bac Ninh create great attraction for FDI trends in Bac Ninh province is that the Province implements practical, focused, and key forms of investment promotion abroad, focusing on markets with high-quality investors, such as the United States, Europe, etc. Typically, at the end of September 2024, the Bac Ninh Provincial Delegation led by Provincial Party Secretary Nguyen Anh Tuan had investment promotion activities in the United States. This sends a message about the commitment of the highest leaders of the Province to meet the high and diverse needs of investors in the world’s leading high-end market.

Bac Ninh as an FDI destination

4. Bac Ninh as an FDI destination

“Bac Ninh always thinks, works, wins, develops, and is proud of investors together”. With this consistent viewpoint of Government incentives for FDI in Bac Ninh, the Provincial leaders are always ready to create the best conditions for businesses to invest in Bac Ninh. In addition to ensuring an open, favorable, equal, and transparent investment and business environment for investors, the Provincial leaders also proactively grasp the difficulties and problems of investors to promptly resolve and remove them…

Previously, from July 3 to 13, 2024, Vice Chairman of the People’s Committee of Bac Ninh province Dao Quang Khai had a working trip to several European countries including Germany, Czech Republic, and Hungary to discuss cooperation and promote investment potential in Bac Ninh.

“If you promise, you do it”, from the strong and clear messages and commitments in investment promotion events abroad, Bac Ninh has seriously implemented them in practice and has been “scored” by foreign investors, thus “creating soft power” for Bac Ninh in continuously increasing attraction in attracting FDI.

If you are a company looking to establish or expand your investment in Bac Ninh, now is the time to act! Contact S4B Vietnam today to explore how we can support your business success in this thriving province. Our Services for FDI Enterprises in Bac Ninh includes

  • Payroll Outsourcing – Accurate, timely, and compliant payroll processing.
  • Recruitment & Staffing – Find top talent, from executives to skilled labor.
  • HR Compliance & Advisory – Ensure full compliance with Vietnamese labor laws and regulations.
  • Employer of Record (EOR) & Work Permits – Quick hiring solutions without entity setup.
  • HR Strategy & Workforce Planning – Develop effective HR policies and training programs.
  • Accounting & Tax Services – Professional bookkeeping, tax filing, and financial compliance.
  • Company Establishment – Assistance with business registration and legal setup.

>>>Read more: Infrastructure development to support FDI in Vietnam

S4B Vietnam

  • Address: Unit 701B – 701C, Tower A, Handi Resco 521 Kim Ma Street, Ba Dinh District, Hanoi, Vietnam.
  • Tel: + 84 24 3974 4181
  • Email: service@s4b.com.vn

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