Choose to go slow but sure for sustainable development

In 2024, in addition to the electronics sector, Bac Ninh will focus on attracting foreign direct investment (FDI) in medical technology, artificial intelligence, training centers and service development to serve industrial parks. Mr. Nguyen Van Phuc, Head of the Management Board of Industrial Parks of Bac Ninh province, discussed this content.

Mr. Nguyen Van Phuc, Head of the Management Board of Industrial Parks of Bac Ninh province

Sir, for many years, Bac Ninh has always been at the top in attracting FDI, with land lease rates in many industrial parks always at a high level?

What we are most proud of is that, in the context of many difficulties, investors still stabilize production, instead of moving away from the locality. Although Bac Ninh's FDI attraction is not as good as some other localities, it still ranks 7th in the country and 4th in the region in 2023.

Although it is the smallest locality in the country, after 25 years of innovation and development, Bac Ninh has made great strides in industrial parks, thereby attracting a lot of FDI capital. However, due to the small land area, in recent years, the province has been more careful in selecting investors, only accepting businesses that the locality really needs and they also need us.

What is the direction of industrial park development to attract green investment in Bac Ninh?

From a backward agricultural province, not yet on the economic development map, Bac Ninh has risen to the top 10 of the country in terms of economic growth and industrial park development. According to future planning, Bac Ninh will be an industrial development center, so we put greening as the focus of development.

With 24 industrial park and infrastructure development projects, there have been several green industrial parks that are operating effectively such as VSIP, Viglacera... On the 6th day of the Lunar New Year, Viglacera announced the inauguration of Thuan Thanh Eco-Smart IP Green Industrial Park in Bac Ninh. With the addition of this industrial park, it is hoped that there will be many innovations in attracting local investment.

In the process of green development, investment costs will certainly be higher. How does Bac Ninh create conditions for businesses to invest in green industrial park infrastructure?

The conversion from an outdated, low-cost model to a modern model inevitably leads to increased costs. The conversion process also has a very clear screening process, only large, "healthy", visionary and dedicated businesses will follow the green direction.

For these enterprises, the locality will have harmonious support solutions so as not to greatly affect the investors' choice of land lease to implement investment projects. I think that infrastructure investors choosing the green industrial park model is in line with the development trend.

Land funds are increasingly scarce, the room for Bac Ninh to attract investors is somewhat limited, especially for businesses that need large land areas. How does Bac Ninh handle this problem?

The planning of Bac Ninh province for the period 2021-2030, with a vision to 2050, approved by the Prime Minister , stated that it would accelerate the progress of large industrial projects with spillover effects to become the main driving force for economic growth of the province and the whole country. If the land fund cannot be further developed, Bac Ninh will choose the most effective investment enterprises.

Which sectors and fields will Bac Ninh focus on attracting investment? What is the province's investment attraction target in 2024?

We focus on attracting investment in medical technology, artificial intelligence, training centers and service development to serve industrial parks. Industrial parks in the province are currently only 60% full, meaning there are still 4,000 - 5,000 hectares of land ready to welcome investors.

Of course, Bac Ninh will not receive investors en masse as before, but must go through careful selection. Once choosing this path, there will be more difficulties, but we determine that we can go a little slowly, but must be sure. That is the factor that brings sustainable development.

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