Strengthening the FDI Attraction to Bac Ninh Province of Vietnam in New Context, Vietnam

Abstract

Bac Ninh is a province in the Red River Delta with many potentials for socio-economic development. Currently, Bac Ninh is one of the provinces with the highest and fastest economic growth rate in the North of Vietnam. In the planning, Bac Ninh province is located in the metropolitan area of the Capital and the gateway to the northeast of Ha Noi capital.In addition, Bac Ninh is located on two economic corridors of Con Minh - Lao Cai - Hanoi - Hai Phong - Quang Ninh and Nam Dinh - Lang Son - Hanoi - Hai Phong - Quang Ninh. The province is on the traffic system connecting with provinces in the region such as National Highway 1A, National Highway No.18, National Highway No. 38, the axis of railway running through Bac Ninh to Lang Son and China; Waterway network of Cau river, Duong river and Thai Binh river connecting Bac Ninh with the system of river ports and seaports of the region. These are very favorable factors for socio-economic development and exchanges of Bac Ninh with other localities. With these advantages, Bac Ninh has great potential to attract investment capital, especially  FDI for the socio-economic development. However, in the new context, with many opportunities but also many challenges, especially in the industrial period 4.0 and current economic integration, Bac Ninh needs to maintain effectively existing FDI, on the other hand, the province must have more breakthroughs in attracting FDI capital in accordance with the new context.