Bac Ninh pushes economic ties with Russia

Secretary of northern Bac Ninh provincial Party Committee Nguyen Nhan Chien hosted a local reception on October 2 for a delegation from the Russia – Vietnam Friendship Association led by General Director of Russia’s Yaroslav Region Export Support Centre Bagrova Natalia.
Bac Ninh pushes economic ties with Russia ảnh 1At the event (Photo: VNA)
Bac Ninh (VNA) – Secretary of northern Bac Ninhprovincial Party Committee Nguyen Nhan Chien hosted a local reception onOctober 2 for a delegation from the Russia – Vietnam Friendship Association ledby General Director of Russia’s Yaroslav Region Export Support Centre BagrovaNatalia.

Chien expressed his wish that Russia and Bac Ninh wouldexplore cooperation opportunities in fields other than economy, such associo-culture, thus strengthening ties between Vietnam and Russia, and betweenBac Ninh and Russia in particular.

Natalia, for her part, spoke highly of Bac Ninh’sdevelopment over the past years, particularly incentives for Russian firms,including those from Yaroslav.

As Yaroslav is one of the 14 largest Russian industrialhubs, Russia is willing to share its experience in smart city development withVietnam, she said.

The official hoped that more incentives will be provided forRussian enterprises in the near future, thus contributing to Bac Ninh’seconomic development.

Representatives from the two countries’ firms raisedquestions about market and export-import tariff in Bac Ninh and Yaroslav.

As of the late 2018, Bac Ninh is home to 16 concentratedindustrial parks with a total area of nearly 6,400ha and an occupancy rate ofabout 67 percent. The per capita gross domestic product in Bac Ninh neared6,500 USD, ranking second nationwide. The State budget collection surpassed 22trillion VND (956 million USD) in the first nine months of this year, over 6.7trillion VND of which was from the foreign direct investment sector.

As of September 2019, Bac Ninh granted investment licensesto more than 1,400 projects worth upwards 18 billion USD. Foreign-investedprojects are from 36 countries and territories, including the Republic ofKorea, Singapore and Japan, mostly in manufacturing and processing.

In the near future, Bac Ninh plans to attract Russianinvestment to high-tech, education, health care and environment./.



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