Bac Giang province logs highest GRDP growth nationwide

The northern province of Bac Giang's gross regional domestic product (GRDP) grew by 13.45% this year, topping the nation. Accordingly, the province's growth rates of industry-construction, agro-forestry-fishery, and services hit 17.25%, 2.63%, and 6.56%, respectively. Meanwhile, its industrial index of production (IIP) for the entire year went up by 20.2%, with the processing and manufacturing industry growing by 20.5%, and the production and distribution sector of electricity, gas, steam, and air conditioners up by 5.7%. As of November 30, Bac Giang attracted 3.2 billion USD of investment, the highest amount ever recorded. Regarding new foreign direct investment (FDI) capital, excluding new sums added to existing projects, it ranked second nationwide after Quang Ninh province. Notably, in September, the Korean-funded Hana Micron Vina Co. Ltd. inaugurated its semiconductor manufacturing plant, the first of its kind in the northern region, at Van Trung industrial park in Viet Yen district. The effective i mplementation of the project is expected to lay the foundation for developing a semiconductor manufacturing ecosystem in the province and the region. It also presents an opportunity for Bac Giang to attract more high-tech projects in the near future. The Red River Delta province, situated about 50 km to the east of Hanoi capital, has a favourable geographical and economic location. Surrounded by major economic hubs, ports, and national highways, it is located at the crossroads of major trade routes. It lies adjacent to the Hanoi - Hai Phong - Quang Ninh key economic triangle. It is 110 km from Huu Nghi Border Gate with China, 100 km from Hai Phong seaport, and 40 km from Hanoi's Noi Bai International Airport. The locality has favourable weather conditions and is less affected by natural disasters, with stable stratigraphy, fertile land, and beautiful natural landscapes./. Source: Vietnam News Agency

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