Capital resources attraction diverted to high quality inflow

The picture of attracting FDI into high-tech industries in Binh Duong still has other sombre colors when the countries investing in the province mainly from the Asian region of a high level of education, science and technology is not high, and the province's export products are still mainly on furniture, garments, leather shoes, textiles, which are labor-intensive without hi-tech content despite the currently brilliant colors. As the matter of facts, Binh Duong needs to supplement new policies to increase the efficiency of attracting FDI in high-tech industries.

Currently, 65 countries and territories registered to invest in Binh Duong, of which, countries and territories in Asia have total investment capital account for more than 75% of the total investment capital inflow of the province, showing the reality that the province needs more effective solutions to attract FDI enterprises from developed countries. Being well aware of this, Binh Duong has continuously organized seminars and reached out to promote investment from developed countries of USA, EU, Netherlands, Australia, Denmark, Belgium, France, and Germany.

The provincial People's Committee has also just issued Decision No. 1993/QD-UBND to approve the investment promotion program of Binh Duong province in 2023. Accordingly, Binh Duong will organize seminars and talks to invite investment in supporting industries, high technology, and logistics for foreign investment promotion activities which are organized in the form of online combined with face-to-face meetings in order to discuss more about investment environment, mechanisms and policies in Binh Duong. According to the plan from now until the end of the year, Binh Duong will organize important investment promotion activities with Japanese and Singaporean investors, especially, the Asian Economic Cooperation Forum (Horasis) in 2023 to be held in the province.

The strong development of the industry has contributed to making Binh Duong current 2nd ranking in the country in terms of FDI attraction only after Ho Chi Minh city. Recognizing the particularly important role of attracting FDI, many solutions to attract quality FDI inflows are being promoted by Binh Duong in the coming time. The province is concentrating on infrastructure investment by actively improving the business investment environment, building and strongly promoting the image of a far-reaching Binh Duong.

Reported by Ngoc Thanh – Translated by Vi Bao