Bac Ninh industrial parks play significant role in local economy

Bac Ninh (VNA) – Industrial parks of the northern province of Bac Ninh have made up 70 percent of industrial production value, over 90 percent of exports and 51.7 percent of budget collection of the locality.

The figures were given at a conference on August 24 to review 20 years of forming and developing local industrial parks.

According to Chairman of the provincial People’s Committee Nguyen Tu Quynh, the introduction of the Management Board of Bac Ninh Industrial Parks 20 years ago is a breakthrough step showing the vision and mindset of provincial leaders in mobilising resources, investment to boost industry’s growth.

After two decades, the industrial parks have become an important part of the local economy, promoting the economic structure transform, while improving the province’s capacity in production and technology transfer, enhancing production efficiency and engaging deeper into the global production chain.

Established on August 25, 1998 under the Prime Minister’s Decision 152, the Management Board of Bac Ninh Industrial Parks has overcome various difficulties to complete all assigned tasks.

Particularly, strong performance in investment management and industrial park planning has helped Bac Ninh strongly thrive from a poor locality to one of the richest localities and a socio-economic development model with increasing role in the national economy.

Since 2000 when Bac Ninh launched its first industrial park of Tien Son, the province has currently had 16 concentrated industrial parks covering nearly 6,400 hectares. Ten of them have been operational. The occupation ratio of the park has reached 88 percent of cleared land, much higher than the average ratio of the country.

As of the end of July 2018, industrial parks in Bac Ninh have drew 1,278 projects from 33 countries and territories with total investment of 17.43 billion USD, including 848 foreign-invested projects worth 15.4 billion USD and 430 domestically-funded projects with combined capital of 2.03 billion USD.

In the first six months of this year, the province’s industrial production hit 500 trillion VND (21.5 billion USD), while export value was 19 billion USD and imports of 11 billion USD. Bac Ninh contributed 6 trillion VND (258 million USD) to the State budget, and created jobs for 282,000 labourers, of whom 70 percent came from other localities.

On the occasion, the Management Board of Bac Ninh Industrial Parks were conferred with the Labour Order, first class, from the President.-VNA