Bac Ninh province has reclaimed its position as Vietnam’s top destination for foreign direct investment (FDI) in 2024, with nearly $5.12 billion in registered capital.

This figure accounts for 13.4% of the country’s total FDI and represents a dramatic increase from its 7th-place ranking in 2023, when the province attracted $1.76 billion.

This marks Bac Ninh’s highest FDI total in a decade, solidifying its reputation as a strategic hub for global corporations.

In 2014, the province ranked 4th nationwide, with $1.58 billion in new and additional investments, bolstered by Samsung Display’s $1 billion project in the Yen Phong Industrial Park.

By 2015, Bac Ninh climbed to 1st place, attracting $3.64 billion, thanks to a $3 billion capital increase from Samsung Display Vietnam.

After experiencing a brief decline in rankings, the province returned to 2nd place in 2017, buoyed by Samsung’s additional $2.5 billion investment.

Over the years, Bac Ninh has attracted multinational corporations such as Samsung, Amkor Technology, Foxconn, and Goertek, which have chosen the province as a base for their operations in the semiconductor and electronics industries. This success is attributed to its robust infrastructure, skilled labor force, and streamlined administrative processes.

Bac Ninh has developed a unique strategy to attract investment, emphasizing minimal land and labor use, high-tech and high-efficiency projects, and a commitment to sustainability.

The province provides ready access to land, high-quality human resources, and favorable policies while ensuring that investments do not harm the environment.

Looking ahead, Bac Ninh’s master plan for 2021–2030, with a vision to 2050, prioritizes industries such as electronic equipment manufacturing, aviation components, medical technology, and high-tech R&D.

By 2030, the province aims to establish 25 industrial parks across four major zones, with a long-term goal of becoming Southeast Asia’s leading hub for high-tech innovation by 2050.

Nguyen Le