Bac Ninh expects to collect trillions of billions from Samsung factory

Mr. Nguyen Quoc Chung – Director of Bac Ninh Department of Planning and Investment discussed with the press about Samsung’s activities as well as creating an attractive environment to attract foreign investment in the area.

– Samsung’s tax payment is not commensurate with the scale of its operations. How does the province view this situation?

– In my opinion, there is not much basis to say that Samsung pays more or less tax to Bac Ninh, because this must depend on the actual profits at the enterprise.

In the future, after expanding investment, Samsung may pay more taxes.

Mr. Nguyen Quoc Chung – Director of the Department of Planning and Investment of Bac Ninh province.

– In June, Bac Ninh province will have a meeting to discuss support for Samsung’s additional investment of one billion USD.

– This is Samsung’s phase 3 investment. Once completed, it will merge into a common base with previous projects.

Regarding incentives, Bac Ninh does not have any incentives different from the Central Government and all incentives are approved by the Government.

In addition to Samsung’s 1.5 billion USD project and a number of satellite units, it is expected that Nokia’s factory in Bac Ninh worth 300 million USD will officially come into operation in early July.

Bac Ninh’s goal is to become a province with a brand in the development of electronics and supporting industries, attracting multinational corporations from Japan, Korea, EU, US and other developed countries.

– Favoring large businesses over small businesses is just a feeling, but in management there is no such thing.

Bac Ninh aims to be in the top 10 provincial competitiveness index.

– Among the Northern provinces, Thai Nguyen is now also emerging as a province attracting high-tech businesses, especially after Samsung announced to invest 2 billion USD here.

– We determine that the key to improving competitiveness is focusing on administrative reform, creating an open environment to reduce time costs, unofficial costs for businesses…, but in the end it is still

However, it cannot be denied that the competition is very fierce, experience shows that localities ranked in the top, when their scores have decreased, often have a deep decrease.

– Currently, the supporting industry in Bac Ninh has been formed and the province also plans separate supporting industrial parks and prepares factories for businesses.

Besides, as I said above, administrative reform will continue, combining industrial park investors with local authorities to successfully organize investment promotions. – Access issues

– In the coming time, we will work hard to improve the land improvement index, but if we do not achieve what we want, we will have to endure it because we cannot open it up.

– In the immediate future, we aim to remain in the group of 10 leading provinces in the country in terms of PCI index and will move towards being in the top 5, this depends largely on the perception of businesses.

According to the provincial competitiveness rankings (PCI 2012) announced by the Chamber of Commerce and Industry (VCCI) in March 2013, Bac Ninh dropped from 2nd position last year to 10th position. This is

Regarding foreign investment attraction, by the end of May 2013, Bac Ninh had 333 valid FDI projects, total registered capital of nearly 4.4 billion USD, ranked 12th out of 63 localities nationwide.