Binh Duong always creates the most favorable conditions for US investors

Provincial People's Committee, on December 2, held a webinar on US investment promotion. The event was attended by Vo Van Minh, Vice-Secretary of provincial Party Committee, Chairman of provincial People's Committee; leaders of provincial Industrial Parks’ Management Board, Becamex IDC, sectors and departments in the province.

Attending at the event in the US were leaders of the Atlanta Economic Development Department, the Vietnamese Ambassador to the US, representatives of Global Atlanta Organization and enterprises.

An overview of the US investment promotion conference

Speaking at the event, Mr. Minh emphasized that after more than 25 years of establishing bilateral relations, the US and Vietnam have become reliable partners and got a more and more active-comprehensive cooperative relationship. In Binh Duong province alone, the US has so far invested in 128 projects with a total investment capital of more than US$ 911 million.

After the 4th Covid-19 pandemic, the Government of Vietnam has implemented many strong and quick measures; promptly changed the strategy policy from "Zero COVID" to "Safe and flexible adaptation and effective control of the COVID-19 pandemic, focusing on making good use of opportunities to promote socio-economic recovery and development”. Binh Duong province has also created the most favorable conditions for enterprises to recover production and maintain supply chains through dialogues with industries’associations, enterprises…, including an online conference with the American Chamber of Commerce (AMCHAM), a conference on "Meeting the the US: Joining hands in reopening, recovering and developing the Southern economic region" in order to listen to and promptly solve difficulties, creating favorable conditions for US investors to work effectively.

Vo Van Minh (right), Chairman of provincial People's Committee chaires the online conference

In 2021, despite facing many difficulties, due to the Covid-19 pandemic, Binh Duong province’s index of industrial production (IIP) was estimated to increase by 4.5% compared to 2020. The province’s export turnover was estimated at US$31.5 billion (up 13.5%) while import value was estimated at US$ 24.7 billion (up 14.7% compared to 2020). The province’s trade surplus reached US$ 6.8 billion. The province’s Gross Regional Domestic Product (GRDP) has always achieved a relatively high growth rate compared to the average growth rate of the whole country.

Binh Duong has always paid attention to supporting enterprises through improving the local investment climate, enhancing competitiveness, applying science and technology to simplify administrative procedures, implementing human resource training, building social housing projects for workers... Therefore, Binh Duong has always been evaluated as one of the country’s leading localities in socio-economic development, industrial development and FDI attraction. Up to now, Binh Duong has ranked second nationwide in FDI attraction, after Ho Chi Minh City, with a total of 4,016 projects from 65 countries and territories, with a total registered capital of more than US$ 37 billion.

At the event, US investors were very interested in the high-tech field and smart city project of Binh Duong while highly appreciating Binh Duong as one of Vietnam’s leading industrial production centers. This is an opportunity for them to choose and learn about the investment climate of Binh Duong.

On behalf of provincial leaders, Mr. Minh invited US investors to Binh Duong in order to learn about the local investment opportunities. The province has always accompanied, supported and created the most favorable conditions for foreign investors, including US investors; regularly maintained dialogue channels with the business community both at home and abroad to promptly adjust policies in line with the local development interests and the legitimate interests of the local business community.

Reported by Tieu My-Translated by Kim Tin

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