In 2023, Bac Giang aims to attract $1.3 billion in FDI and has now completed about 60% of the plan. These are really impressive numbers in the context of the gloomy world economy and a number of other "failures" in attracting investment capital.

Quang Chau Industrial Park is considered as one of the successful examples in industrial park development of Bac Giang. The existing industrial park of 426 hectares has been filled with 100% of its area, attracting 41 investment projects, including 37 FDI projects, 4 domestic investment projects with a total investment capital of up to 2.8 billion USD. , creating jobs for about 67,000 workers. In which, there are projects of famous multinational corporations such as Foxconn, Luxshare-ICT, JA Solar, Siflex, Samkwang, Crystal Martin, Lens...

This success is the premise for us to expand this industrial park from 426 ha to 516 ha. The expansion phase with an area of ​​more than 90 hectares has attracted many large investors interested in surveying and registering to rent with an expected occupancy rate of more than 90%.

My deepest impression during the process of KBC investing in industrial parks in Bac Giang is that the provincial leaders welcome, always care and support businesses. In particular, the local government strongly directed to solve the difficulties and problems of investors to quickly implement the project. The success story of Bac Giang that I mentioned aims to draw lessons to note for localities in attracting FDI inflows.

With the current trend of green development around the world, localities no longer attract FDI at all costs, instead choosing a sustainable, long-term path. Priority attention is paid to attracting projects with high science and technology content, environmentally friendly, projects capable of participating in global value chains, projects in the fields of electronics, telecommunications industry, etc. telecommunications, mechanical engineering, building materials, new materials and supporting industries are key investment attraction strategies. To implement this selective investment attraction strategy, in my opinion, provinces need to do the following things:

Firstly, invest and perfect the general infrastructure of the province and infrastructure in industrial parks and industrial clusters. Over the past time, many localities have stepped up investment and completed industrial park infrastructure, focusing on allocating resources for investment in building infrastructure outside the fences of industrial parks such as traffic systems, electricity , communication, water supply and drainage; social infrastructure, services and commerce, schools...

However, it is also necessary to build industrial parks associated with urban areas, contributing to solving the problem of workers’ housing, ensuring the lives of workers in the industrial park and later progressing to building a safe environment. a high-class working and living school with modern and high-tech manufacturing industries, associated with research centers and supporting business development in those fields.

Second, administrative reform, improving the business investment environment for enterprises. In localities that are successful in attracting foreign investment, it is not true that the policies are much different, but the "secret" lies in the drastic and dynamic participation that shows the development aspirations of the provincial leaders. The friendliness of the government, the effort to create the most favorable conditions for investors has created the advantage of the locality, in addition to its geographical location and abundant human resources.

Third, differentiated investment attraction strategy and effective management of investment projects. Provinces need to diversify and professionalize investment promotion forms, switch from passive investment attraction to active and selective investment attraction according to the issued set of criteria.

Fourth, focus on planning and development of industrial parks and industrial clusters, accelerating the progress of industrial park site clearance. For example, in order to create a clean land fund and promptly welcome investors, especially world economic groups in the supply chain of Apple, Samsung, Honda..., Bac Giang has urged the construction of facilities. infrastructure of concentrated industrial parks, speeding up the progress of approved investment projects.