Mr. Mai Son, Acting Chairman of Bac Giang’s People’s Committee,  at the regular meeting in November 2024

Bright spot in national economic development

Located in the northeast of Vietnam, with favorable geographical conditions, abundant and skilled labor, along with appropriate development orientations and strategies, and the determination of the entire Party committee, government and people, Bac Giang is on the path to becoming a major economic center in the northern region and the whole country.

In recent years, the province has focused its resources, maximizing its potential and advantages, alongside gradually innovating its growth model, enhancing competitiveness, and integrating for comprehensive and sustainable economic-social development linked with environmental protection and maintaining national defense and security.

Accordingly, the province has promoted the transformation of its economic structure, focusing on restructuring agriculture towards large-scale commodity production linked with new rural development; developing advantageous industries, enhancing industrial value and expanding markets to boost exports. It has prioritized investment and resource attraction to develop the economic-social infrastructure system comprehensively, especially rural infrastructure and regional connectivity; developing cultural and ecological tourism potential; improving human resource quality, and ensuring quality education and healthcare. Particularly, it has strengthened the management and effective use of resources, focused on environmental protection, and improved the material and spiritual life of the people.

Van Trung Industrial Park is a favored destination, drawing significant interest from both domestic and international investors

Thanks to these efforts, despite many challenges, Bac Giang has continued to maintain a strong economic growth rate. In 2023, it achieved a growth rate of 13.45%, nearly 2.5 times the national average, ranking first in the country. In 2024, it is estimated to reach 13.85%, continuing to lead the country for the third consecutive year. Along with maintaining high growth rates, the scale of the economy has also continued to expand, becoming a bright spot and making a strong impression on other provinces nationwide.

In 2024, the industrial and construction sectors are expected to grow significantly, with an estimated annual increase of 17.75%, contributing 12.79 percentage points to overall growth. The industrial sector alone is estimated to grow by 19.87%, remaining the main economic sector and contributing 13.06 percentage points to overall growth. Major industrial enterprises such as Hosiden Vietnam Co., Ltd., Fuyu Precision Technology Co., Ltd., and Hana Micron Vina Co., Ltd. contribute significantly to this growth.

Agriculture has affirmed its important position, with large-scale fruit-growing areas and livestock farming among the national leaders. Sustainable agricultural development and high-income farmers are becoming models for many localities.

Additionally, the commercial and service sectors continue to maintain stable growth. Investment attraction, especially FDI, has achieved high results, making Bac Giang an ideal destination for a series of leading global technology corporations. The quality of projects has steadily improved, with many large-scale projects. Since the beginning of the year, the province has attracted over US$1.9 billion in investment, ranking ninth nationwide for investment attraction. FDI projects are mainly concentrated in the fields of manufacturing, electronics component processing, textiles and logistics.

Along with economic development, the fields of culture, social affairs, education, and healthcare have also increasingly developed, while national defense and security are ensured.

Continuing to step firmly on the new path

Mai Son, Acting Chairman of the Provincial People's Committee, said that Bac Giang is focusing on leveraging all its potential, advantages, resources and regional connections toward rapid, comprehensive and sustainable development. Among these, industry is the primary driver of growth, linked to the development of new spaces. The province strives to become an industrial province by 2030 with its GRDP among the top 15 provinces and cities in the country.

In 2025, the province aims for a GRDP growth rate of 14.0%, with industrial construction increasing by 17.0% (industry up 17.7%, construction up 8.5%), services growing by 7.5%, and agriculture, forestry and fisheries increasing by 1.0%. The product tax will grow by 9.5%. The economic structure is projected to consist of 70.0% for industry and construction, 19.7% for services (including product taxes), and 10.3% for agriculture, forestry, and fisheries.

To achieve these goals, the province will continue to focus on breakthrough solutions that spread economic development across regions. It will concentrate on restructuring the economy, renewing the growth model, enhancing competitiveness, and accelerating the development of the digital economy, green economy, circular economy and e-commerce to create new growth drivers.

Despite challenges, Bac Giang has still sustained strong economic growth

In this context, the province will speed up the establishment and infrastructure investment in industrial zones to attract investment, integrating these zones with urban and service areas that have modern technical and social infrastructure. The province will continue to shift the industrial structure by attracting investment in processing and manufacturing industries while reducing the proportion of outsourcing and assembly.

The province will focus on effectively implementing Resolution 147-NQ/TU dated July 15, 2021, by the Provincial Party Committee on industrial development in Bac Giang for the 2021-2030 period. It will restructure industrial production, prioritizing sustainable FDI attraction to move toward an "industrial ecosystem" model.

The province will continue to focus on removing obstacles and promoting production development, improving the business and investment environment, and creating conditions for economic sectors to grow. It will boost budget revenue and invest in essential infrastructure, with a focus on transportation, industrial, and urban infrastructure.

Moreover, the province will enhance land management, mineral resources and environmental protection, focusing on healthcare and improving the quality of education and training. It will develop human resources, strengthen labor management, and ensure effective social security. Administrative reforms and digital transformation will be promoted. National defense, security and social order will also be ensured.

"With the solid foundation, creativity, the entire Party, government and people of Bac Giang will continue to harness the power of unity, self-reliance, and self-strength, overcoming all difficulties and challenges to successfully implement the 13th Party Congress Resolution and the Provincial Party Congress Resolution for the 2020-2025 term, laying the foundation for Bac Giang to continue developing comprehensively and sustainably as a national industrial center, with a high standard of living for the people," affirmed Mr. Mai Son.