Bắc Ninh
Bac Ninh’s economy shines with impressive growth highlights
BAC NINH - Despite ongoing challenges and fluctuations in the macroeconomic landscape, Bac Ninh province has emerged to become one of the top five localities contributing most to Vietnam's GDP, achieving a robust growth rate of 10.12%. This achievement is reflected through a number of impressive bright spots in the province’s economic picture over the past nine months.
According to the Department of Industry and Trade, Bac Ninh's economic momentum in the first nine months remained stable thanks to strong recovery and spillover effects major sectors.
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An aerial view of Van Trung Industrial Park. |
Notably, the industry continued to lead as the economic locomotive, posting a remarkable growth rate of 15.93%, with total industrial production value exceeding 1,766 quadrillion VND (67 billion USD).
Within this sector, manufacturing and processing industries grew 16.08%, largely due to the expansion in core product lines such as electronics and machinery.
Key product outputs shown sharp increases compared to the same period last year. For example, computer components surged 7.85 times, while laptops and iPads rose 2.61 times.
Remarkably, despite challenges from U.S. tariff policies, many FDI enterprises have maintained positive growth. Major global players such as Foxconn, Luxshare, Samsung, Goertek, Canon, and Hanwha continued expanding their operations, reinforcing their positions in global supply chains.
The second bright spot is the continued increase in foreign direct investment (FDI), with numerous projects adjusting their capital scale upward, signaling strong long-term investor confidence in Bac Ninh's growth potential amid global supply chain shifts.
Over the past nine months, Bac Ninh attracted more than 15.3 billion USD in total investment capital (converted), ranking first nationally in attracting FDI.
Exports played a central role in driving growth, successfully navigating tariff-related headwinds. Many enterprises exceeded their revenue targets.
Fuyu Corporation posted estimated revenue of 133.46 trillion VND, up 81.2% year-on-year; Fulian (a Foxconn subsidiary), operational since August 2024 recorded revenue of 33,281 trillion VND; Canon 6.1 trillion VND, up 51%; and Microsoft Mobile 29.7 trillion VND, up 31.89%
As a result, total import-export turnover in the first nine months reached 129.3 billion USD, of which exports accounted for 65.7 billion USD (up 26.38%).
The trade balance shifted toward a trade surplus of 2.16 billion USD, helping Bac Ninh retain its position as the second-largest exporter in the country, after Ho Chi Minh City.
“This success affirms Bac Ninh’s status as the billion-dollar industrial capital of the North, a hub for many global FDI giants,” said Nguyen Van Phuc, head of the Bac Ninh Industrial Zones Authority.
“The surge in exports was not only driven by FDI enterprises but also by increasing spillovers to domestic firms, especially in supporting industries, logistics, and component manufacturing.”
Another standout highlight is that public budget revenue surpasses the annual target three months ahead of schedule. By the end of September, total budget revenue was estimated at about 57.04 trillion VND, with domestic revenue exceeding 47.35 trillion VND, or 103.3% of the annual target, up 55.1%.
Public investment disbursement reached 69% of the plan assigned by the Prime Minister, placing Bac Ninh among the top seven provinces with the highest disbursement rates nationally.
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Contractors are expediting construction of Kenh Vang Bridge. |
The number of new businesses entering the market rose 25% year-over-year, with total registered capital reaching over 94.58 trillion VND.
These results not only positive business trends but also demonstrate the confidence, momentum, and resilience of Bac Ninh’s economy on its development path.
The strong performance across macroeconomic indicators has laid a solid foundation for Bac Ninh to approach its annual growth target of 11.5%.
According to the Chairman of the provincial People's Committee, a key priority for the remainder of the year is hurriedly public investment disbursement.
Efforts will focus on expediting major and strategic infrastructure projects, such as newly approved industrial parks Quang Chau (expansion), Yen Lu, Phuc Son, Hoa Phu (expansion); Gia Binh International Airport and its connecting road to Hanoi; Kenh Vang Bridge; and components of the Ring Road IV of the Hanoi Capital Region. These projects are expected to be major growth drivers for Bac Ninh in the coming years.
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