Chinese group expands investment in Bac Ninh

Chairman of the Bac Ninh Provincial People’s Committee Vuong Quoc Tuan presents a Dong Ho folk painting to the leadership of Johnson Group (Taiwan, China)

Chairman Vuong Quoc Tuan welcomed Johnson Group's decision to expand its investment scale in Bac Ninh. He briefly outlined the province's significant achievements in socio-economic development and foreign investment attraction in recent times. He emphasized that although Bac Ninh is the smallest province in the country, its advantageous geographic and economic position, proximity to Hanoi, close access to Noi Bai International Airport, and the presence of national highways, along with business-friendly policies, have made it one of the leading provinces in attracting foreign direct investment. Currently, Bac Ninh has 16 concentrated industrial parks covering nearly 6,400 hectares, with 12 of these parks in operation, achieving an occupancy rate of over 60%. Among the countries and territories investing in Bac Ninh, Taiwan (China) has 63 projects with registered capital exceeding USD700 million, and Taiwanese businesses in Bac Ninh have all been operating effectively.

Johnson Group (Taiwan, China) currently operates six factories worldwide specializing in sports equipment production, employing nearly 9,000 workers. One of these factories is located at Thuan Thanh II Industrial Park, built in 2019, covering 10 hectares with a total investment of USD50 million and generating annual revenue of USD60 million. The group is now planning to invest in a new factory at Thuan Thanh I Industrial Park, covering 20 hectares, specializing in the production of control panels, motors, running boards, running belts and other components. This project will have a total investment of USD100 million, is expected to commence in the first quarter of 2025, and be completed and operational by 2026. It will create employment for 2,000-3,000 workers and generate annual revenue of USD120 million. Additionally, the group will introduce secondary projects to serve its sports equipment manufacturing supply chain.

The Chairman of the Provincial People's Committee assigned the Provincial Industrial Parks Management Board as the lead agency to work with Johnson Group to complete the necessary investment procedures, while also providing every possible support and resolving any difficulties or obstacles to ensure that the group's project receives investment certification at the time of the province’s general planning announcement and investment promotion conference (expected early September). He requested that Johnson Group specifically announce its site layout plan to best meet land use requirements and commit to reaching a revenue scale of USD1 billion.

Chairman Vuong Quoc Tuan affirmed that Bac Ninh always creates the best conditions for businesses to grow and contribute to the province's growth rate./.