Bac Ninh Embraces Digital, Green Transformation to Attract Foreign Investors

Bac Ninh province in northern Vietnam is pursuing a "people-centred smart city model" driven by science, technology, innovation, and digital transformation to improve public services, urban management, and regional competitiveness, according to Chairman of the provincial People's Committee Pham Hoang Son. This initiative aligns with Vietnam's broader national push for digitalization and green transformation. The country aims to achieve net-zero emissions by 2050, requiring substantial capital for green projects and the circular economy. Refining policy mechanisms, expanding the green finance ecosystem, and strengthening incentives for businesses are considered breakthrough solutions to accelerate green credit development. Party General Secretary Nguyen Phu Trong has repeatedly emphasized the importance of digital transformation in socio-economic development, providing strong backing for provinces like Bac Ninh to adopt advanced development models. The National Assembly is also focusing on reforming legal and institutional systems and accelerating the application of technology and digital transformation to ensure that institutional frameworks do not become bottlenecks to rapid and sustainable development. This can lead to a more transparent and predictable business environment for foreign investors. Bac Ninh has a long track record of attracting foreign direct investment (FDI) in its industrial parks. However, the province now aims to transition to a new phase by prioritizing digital technologies and sustainability. This strategy is crucial for Vietnam to remain an attractive investment destination for global companies, especially as they restructure supply chains amid trends like the "China Plus One" strategy.