The province’s economic growth in the first 6 months reached 10.94 percent (ranking 2^nd nationwide), of which the industrial and construction sector jumped 13.97 percent, agricultural, forestry and fishery sector increased by 2.77 percent and product tax increased by 4.49 percent. The GRDP scale (current price) valued at 82.010 trillion VND. The economic structure has seen sharp transition towards increase in industrial proportion, particularly the industrial and construction sector accounts for 62.5 percent, service sector accounts for 20.4 percent while agricultural, forestry and fishery sector accounts for 15.1 percent and product tax takes 2 percent.

Illustrative photo (Tran Tuan)

The improvement of investment climate and business development have been paid due attention. The province built the Scheme “Communication on investment and business climate in the period from 2023 to 2025”, organized the conference “Analyzing provincial competitiveness index (PCI), public administration reform index (PAR Index) and Satisfaction Index of Public Administrative Services (SIPAS) in 2022 and seeking measures to enhance these indices in 2023”. Specially, the province gained dramatic increase in PCI results to rank 2^nd among 63 provinces and cities nationwide in 2022.

Despite the global complicated situation with unprecedented developments making dramatic impacts on the waves of investment, the investment attraction of the province has gained positive results especially foreign direct investment (FDI) projects. As of 8 July 2023, the province has attracted total 1.477 billion USD of investment capital, up 47 percent against the same period. Of which, the province licensed to 10 domestic projects with total registered capital of 1.795 trillion VND, down 53.2 percent and 38 FDI projects worth total 1.165.94 billion USD, 4.5 times higher than the same period. Besides, the province gave a node to adjust investment capital to 10 domestic projects with an added capital of 996 billion VND and 19 FDI projects with an added capital of 193 million USD. In the first half of 2023, Bac Giang ranked 3^rd in FDI attraction (following Hanoi and Ho Chi Minh City).

Besides, 1,037 enterprises and 77 branches and representative offices have been newly established, up 35 percent against the same period with total registered capital of 16.170 trillion VND, up 10 percent.

The above figures proved ceaseless efforts of Bac Giang province in improving investment and business climate, in which strengthening business support and start up focusing on dealing with administrative procedures for business registration  through online public services, returning results by post and supporting enterprises in digital transformation. In addition, the province has paid attention to developing industrial infrastructure, supporting land clearance, building industrial parks and clusters and creating clear land reserve for investment attraction.

Lam Anh