Bac Ninh (VNA) – Vice Chairman of the Bac Ninh provincial People’s Committee Mai Son has affirmed that the province will create the most favourable, transparent, and stable environment for investors and economic groups to operate and contribute to local socio-economic development.

At a working session on August 27 with a delegation from the Singapore Semiconductor Industry Association (SSIA), Son noted that Singaporean enterprises are among the major trading partners of Bac Ninh businesses, expressing hope that more Singaporean firms will explore investment opportunities in the province. He also called on the SSIA to encourage major corporations to invest there.

To facilitate cooperation, the official assigned the Department of Finance, the Department of Industry and Trade, and the Bac Ninh Industrial Zone Authority to act as focal points for receiving, providing information, and guiding investors during their exploration of opportunities in Bac Ninh. He also asked relevant agencies to coordinate closely, within their respective mandates, to ensure the highest efficiency in cooperation between the two sides.

SSIA Executive Director Ang Wee Seng said the Singapore Government consistently supports the semiconductor industry and has launched various initiatives to spur growth, investing heavily in research, development, and innovation. The fact that semiconductors account for nearly 7% of Singapore’s GDP, he stressed, demonstrates the sector’s vital role in the national economy.

He expressed his hope that Bac Ninh’s leaders and local departments will provide the best possible conditions for Singaporean semiconductor businesses to scope out the investment environment, while offering support and guidance on investment and business procedures in the province.

The SSIA is a key organisation representing the interests of Singapore’s microelectronics sector. Its mission is to connect the city state’s semiconductor industry with global partners, creating a platform for leaders to share insights and practical experiences. The association focuses on advancing emerging technologies and fostering collaborative initiatives.

Striving to become a centrally-run first-tier urban area, Bac Ninh has been actively investing in and upgrading infrastructure systems, mobilising resources for the construction of social and technical infrastructure projects in line with urban development planning, and improving local living standards.

The province is currently home to 33 industrial parks covering a total area of 10,171 hectares and 93 industrial clusters with a combined area of 3,497 hectares. Major corporations investing in high-tech industries and large-scale production lines have transformed Bac Ninh’s industrial structure.

ౠ Since 2015, smartphones produced at the Samsung Bac Ninh Complex have become the province’s key industrial product. This has helped turn Bac Ninh in particular, and Vietnam more broadly, into a major hub for manufacturing and assembling components for electronic products of global tech giants such as Samsung, LG, Canon, and Toshiba./.