Bac Ninh has doubled its strength following its merger with Bac Giang, another magnet for foreign investment flows. (Photo: baodautu.vn)
China’s Goertek, a key Apple AirPods supplier, remains one of Bac Ninh’s largest investors despite announcing a halt at one plant. Since 2013, the firm has built four factories in the province with registered capital of more than USD 1.3 billion. It recently added USD 130 million to its Nam Son-Hap Linh Industrial Park project, bringing total investment there to USD 540 million. Goertek chairman Jiang Bin said the company plans further expansion in Vietnam.
Other major investors include China’s Luxshare-ICT, which received a licence for a USD 300 million smartphone project, and Foxconn, which is continuing to expand operations locally.
By the end of August, Bac Ninh attracted USD 4.68 billion in FDI, overtaking Ho Chi Minh City with nearly USD 4.4 billion. Hanoi ranked third with USD 3.8 billion, followed by Dong Nai with USD 2.65 billion, Hai Phong with USD 1.7 billion, Tay Ninh with USD 1.56 billion, Ninh Binh with USD 1.53 billion, and Hung Yen with almost USD 1.4 billion.
The Ministry of Finance’s Foreign Investment Agency said the merger of Bac Ninh and Bac Giang aims to create a closed-loop electronic manufacturing chain, covering component production, assembly, and exports.
Already home to Samsung, Canon, and Goertek, Bac Ninh has strengthened its position with Bac Giang’s projects from Foxconn, HanaMicron, and Luxshare. Provincial chairman Vuong Quoc Tuan said Bac Ninh will keep improving its business environment, cutting red tape, and removing barriers to attract further investment.