Despite the rapid urbanization and industrialization leading to a reduction in agricultural land area, the agricultural sector of Bac Giang province has demonstrated intensive and sustainable development by effectively utilizing scientific and technical advancements, coupled with the responsiveness to market demands.
Founded in 1965, Habac Nitrogenous Fertilizer led Vietnam’s nitrogenous fertilizer industry. Despite financial losses after expanding production in 2015, the company returned to profitability in 2021, thanks to government support and business community determination.
Bac Giang has more prominently promoted economic growth, attracted investment flows and facilitated production and business activities in recent years. In addition to good solutions for rapid and robust growth, the province has adopted long-term directions, radical solutions and drastic actions for a sustainable future.
Despite lying in the northern midland and mountainous region where natural conditions are still difficult, with the attention and direction of the provincial government, Bac Giang province has made significant progress in science, technology and innovation. Scientific and technological tasks are becoming increasingly substantive and highly applicable to promote socioeconomic development.
Bac Giang has achieved many very encouraging results in economic development, investment attraction and local administration in the past years.
Bac Giang province defines that industrial development is the “driving force” in promoting socioeconomic development and investment attraction and effective management and operation of industrial parks are of utmost importance.
In 2024, the industry and trade sector of Bac Giang province strives to achieve the industrial production value of VND665.76 trillion, up 23% year on year; the total retail revenue of goods and sales of VND64 trillion, up 13.3%; the export value of US$33 billion, up 20.4%; and the import value of US$27 billion, up 8.1%.
Bac Giang is a destination chosen by many domestic and foreign investors thanks to its locational advantages and its most opening and favorable investment policies.
Despite facing many challenges, Bac Giang province’s industrial production value has grown over time. This is an important foundation for Bac Giang to fulfill its economic growth targets in 2023.
By effectively carrying out consistent solutions for a better business and investment climate, Bac Giang province has attracted more investment capital into industrial zones.
Vietnamese
October 2024
Hanoi