An official of Bac Ninh expressed his hope that Sri Lanka will invest in many projects in this northern province, as well as Vietnam as a whole, while receiving a delegation of the Sri Lankan Embassy led by Ambassador Prasanna Gamage on November 27.

Vice Chairman of the Bac Ninh provincial People’s Committee Vuong Quoc Tuan
(third, right) and Sri Lankan Ambassador Prasanna Gamage (third, left)
at the meeting on November 27

Informing his guests about local development, Vice Chairman of the provincial People’s Committee Vuong Quoc Tuan said Bac Ninh is among the fast growing localities in Vietnam.

This year, its gross regional domestic product (GRDP) is estimated at VND121.7 trillion (US$5.2 billion, up 1% from 2019), industrial production value over VND1.1 trillion (ranking first in the country), exports US$36.5 billion (up 7.3%), collection for the State budget nearly VND29.8 trillion (up 1.6% from the target), and average per capita income VND79.9 million (up 8.1%).

There are 16 industrial parks across the province at present, including 10 already becoming operational and attracting more than 1,500 FDI businesses from 37 countries and territories. Bac Ninh had been home to 1,614 valid projects as of November 20, he noted.

Tuan added since Sri Lanka hasn’t invested in any projects in Bac Ninh, the province hopes for many projects from the South Asian nation, noting the two countries’ potential, strengths, sound relations, and cultural similarities.

For his part, Ambassador Gamage highly valued Bac Ninh’s achievements in socio-economic development, particularly in FDI attraction.

Highlighting the sound friendship between his country and Vietnam, he pledged to serve as a bridge helping Sri Lankan firms to come to explore investment and trade opportunities in the province.

Sri Lanka has 14 investment projects worth some US$76.7 million in Vietnam at present, mostly in the textile-garment sector. Bilateral trade reached US$381 million in 2019. Sri Lanka is the fourth largest trade partner of Vietnam in South Asia.