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|South Korean firms are particularly keen investors in the province|
That is a surge of 53 per cent on-year, according to the Bac Ninh Industrial Zones Management Authority.
“Initially, the authority planned to pull in $300 million this year but the result has outstripped its yearly target by 67 per cent,” said the authority head Vu Duc Quyet.
According to the authority, by the end of 2010, the authority licenced 464 projects, capitalised at $3.47 billion, including 202 foreign invested projects totaling $2.45 billion. More than half of the total investment flew into the electronics-telecoms industry.
In addition, Bac Ninh Industrial Zones Management Authority licenced four enterprises to develop infrastructure of industrial parks including Nam Son-Hap Linh, HaNaKa, Dai Dong-Hoan Son 2 and Gia Binh with a combined registered capital of $236 million, raising the total number of licenced industrial parks to 14, with total registered investment of $865 million.
By the end of 2010, 10 industrial parks have been operational and under infrastructure construction in Bac Ninh province, namely, Tien Son, Dai Dong-Hoan Son, Nam Son-Hap Linh, Yen Phong 1, Yen Phong 2, VSIP, Que Vo 1, Que Vo 2, Thuan Thanh 3 and HaNaKa. The occupancy rate per planned area at these industrial parks reached 49 per cent on average.
In 2010, 39 new projects have come into operation, raising the total number of operational projects in the provincial industrial parks to 230 by late 2010.
According to the authority, Bac Ninh industrial parks’ enterprises achieved prominent production and business results in 2010, specially total industrial production value of VND48.35 trillion ($2.54 billion), up 149 per cent on-year, surpassing the annual target by 86 per cent, export turnover of $3.45 billion, a rise of 244 per cent against 2009, exceeding the initial target by 156 per cent, imports of $2.83 billion, up 222 per cent on-year, outstripping the yearly target by 157 per cent and employing 15,551 new labourers, a surge of 89 per cent on-year.
In 2010, Bac Ninh Industrial Zones Management Authority accelerated investment promotion activities, organising two missions to South Korea for this purpose. Thirty five business missions surveyed Bac Ninh industrial parks this year.
According to Quyet, in 2011, the authority would continue to focus on key markets including South Korea and Japan, mapping out plans to attract investment from Europe and the US. So far, some 15 countries and territories across the world have invested in the provincial industrial parks with presence of a large number of giants such as Samsung, Canon, Foxconn, Orion, ABB and Nippon Steel.
In a bid to boost investment inflows, especially foreign capital, Bac Ninh authorities have developed a series of integrated industrial parks, industrial clusters and handicraft villages, Quyet said, adding as many as 15 integrated industrial parks with a total planned area of 7,525 hectares had been approved by the prime minister, with 6,541ha set aside for industrial parks and 984ha for urban areas.
“Bac Ninh industrial parks have attracted many big property groups like Vietnam Singapore Industrial Park & Township Development Joint Stock Company, Kinh Bac City Development Corporation, Viglacera Corporation, Song Da Infrastructure Construction Joint Stock Company and Vietnam Urban and Industrial Zone Development Investment Corporation, which provide high-quality infrastructure services, meeting the requirements by big domestic and foreign enterprises” Quyet said.
The local industrial parks have been attracting clean industrial projects in the fields of electricity, electronics, telecommunications, engineering, supporting industry, consumer-goods making and assembling, food and farming produce processing, high-grade building materials, prioritising hi-tech and source-technology projects with large capital scales.