Business

Bac Ninh's FDI climbs to 7.83 billion USD

The cumulative foreign investment in the northern province of Bac Ninh was worth 7.83 billion USD as of June 20, ranking it ninth out of the country's 63 provinces and cities, the Foreign Investment Agency said.
The cumulative foreign investment in the northern province of Bac Ninhwas worth 7.83 billion USD as of June 20, ranking it ninth out of thecountry's 63 provinces and cities, the Foreign Investment Agency said.

In an online report on July 23, the agency said Bac Ninh ranked third out of 11 localities in the Red River Delta.

Themanufacturing and processing sector accounted for 7.12 billion USD or91 percent of the FDI, with the property sector ranking second witharound 332 million USD.

Almost all the FDI projects arewholly foreign-invested, with the rest being joint ventures, joint stockcompanies or business cooperation contracts.

Singaporetopped the list of foreign investors, accounting for 35.6 percent ofFDI, followed closely by the Republic of Korea with 33.1 percent andJapan with 10.5 percent.

Singapore-registered Samsung Electronics' 2.5 billion USD project is the largest foreign-invested one.

The second largest investment is 1 billion USD by the RoK's Samsung Display Company Limited.-VNA
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