Bac Ninh province is establishing itself as an attractive investment destination in the industrial real estate sector, leveraging its strategic location, favorable investment policies, and synchronized transportation infrastructure. With total FDI capital reaching $4.8 billion in 2024, Bac Ninh continues to maintain its position among the leading localities in foreign investment attraction, affirming the appeal of the local industrial real estate market.
Strategic position attracting investment
Located just 30km from Hanoi and less than 20km from Noi Bai International Airport, Bac Ninh possesses advantageous geographical positioning alongside modern infrastructure. This has proven to be a key factor in attracting major corporations to invest and develop their business operations. With its strategic location and convenient transportation connectivity, Bac Ninh has become an ideal destination for both domestic and international investors.
Impressive FDI attraction results
In 2024, Bac Ninh recorded remarkable results with 359 new FDI projects licensed, representing a 2.9% increase compared to 2023. Total registered capital reached $1.8 billion, showing robust growth of 70.7% year-over-year. This has contributed to the province's total foreign investment capital of $4.8 billion, an impressive figure that confirms the attractiveness of the local industrial real estate market.
New investment wave in Q3 2024
The third quarter of 2024 witnessed the emergence of several large-scale projects in Bac Ninh. The FCPV Foxconn Bac Ninh Plant, with a total investment of $383.3 million, laid the foundation for a new wave of investment. This was followed by the Goertek Nam Son - Hap Linh Plant with an investment of $280 million and the Victory Giant Vietnam Project valued at $260 million. Additionally, the LOGOS Yen Phong II-A Project and AAC Bac Ninh Plant contributed to the dynamic investment landscape with capital of $74 million and $50 million respectively.
Sustainable development strategy
Bac Ninh's success in attracting investment stems from its systematic and long-term development strategy. The province has been building a synchronized, high-quality industrial ecosystem through attracting large-scale projects from global brands and developing a network of satellite investors. This has created distinctiveness for each industrial park while promoting the development of supporting industries.
Development orientation for 2025
Moving into 2025, Bac Ninh aims to develop towards high-tech, green, clean, and environmentally friendly industries. The province focuses on promoting green transformation in industrial parks and clusters while developing supporting industries to enhance the competitiveness of local small and medium enterprises.
Industrial real estate project managed by KTG Industrial at Yen Phong II Industrial Park
Vision to become an electronics industry center
With the vision of becoming Vietnam's leading electronics industry center, Bac Ninh is accelerating the progress of key industrial projects. The province particularly emphasizes high-tech fields such as semiconductor manufacturing, information technology, pharmaceuticals, healthcare, and renewable energy equipment. While maintaining electronics manufacturing as its primary driver, Bac Ninh is also diversifying into high value-added industries and integrating value chains with research, development, and design.
Conclusion
With its sustainable development strategy and long-term vision, Bac Ninh is steadily affirming its position as a growth engine not only for the northern region but also for the entire country. The focus on green industrial production and renewable energy promises to elevate Bac Ninh's position in the global value chain while promoting sustainable development of the local economy in the future.
>> See more: 30 years of Vietnamese real estate: Overcoming challenges, pursuing stability
Cre: VIR
