Important role of foreign investment in the economic development in Bac Ninh province

Abstract

Despite the difficult economic situation in domestic and in the world, Bac Ninh is the star performers of Vietnam in terms of attracting foreign direct investment (FDI) with total capital invested of nearly $3.5 billion by 2015. Apart from the capital from within the province which plays a decisive role, foreign investment is also one of important sources of capital, of which FDI is considered appropriate funding for Bac Ninh. FDI in recent years has contributed significantly to the economic growth of the province. The paper employed descriptive statistical methods to evaluate outstanding accomplishments of Bac Ninh in attracting FDI and its contribution, thereby proposing some important measures for better FDI attraction to achieve the development goals in the coming years.