Competitiveness rationally improved

Improving the business investment environment and creating conditions for enterprises to develop is one of the key tasks that Binh Duong has been implementing during the past time. Especially, in the period when businesses are still facing many difficulties, the province's companionship, departments, sectors, and localities are a solid foundation that helps businesses feel secure in production and business activities, making positive contributions to the province's socio-economic development.

Persisting investors’ trust

Binh Duong is entering a new phase in attracting investment, prioritizing the attraction of investment in digital economy sectors, developing green economy, and being environmentally friendly based on the application of high technology. Currently, the province has emerged as a production destination for many high-quality projects. The latest is the recently launched project by Pandora Group (Denmark) with a total investment capital of over 150 million US dollars for jewelry production. The factory of this project is operated by 100% renewable energy and built according to LEED Gold standard - green construction certification.

In the context of investment in the province slowing down due to difficulties and challenges from various sides, the fact that many foreign investors still trust to invest shows that Binh Duong is still a "good land" for long-term development. During a recent visit to Binh Duong, Mr. Kho Ngee Seng Roy, Consul General of the Republic of Singapore in Ho Chi Minh City, highly appreciated the dynamic development and attractive investment environment of the province. Investors are very impressed with the achievements and investment potential of the province, particularly the well-planned and modern infrastructure system. Investors gain more confidence after witnessing the province's efforts in building a transparent, fair, and attractive business environment.

The provincial People's Committee regularly organizes conferences and dialogues with domestic and foreign businesses to find solutions to overcome difficulties and promote development.

In order to share and support the resolution of difficulties with businesses, the provincial government has held many meetings and dialogues to listen and create conditions for quickly stabilizing production and business activities. At dialogue sessions and online investment promotion events, most businesses acknowledge that despite still being affected by negative impacts, in the long run, Binh Duong remains an attractive investment destination.

More efforts

From the end of 2022 has been a very difficult period for most industries. The pessimistic rate of businesses remains high, with both capital and labor being reduced. Businesses are facing difficulties in their operations, struggling to borrow capital to maintain production. Meanwhile, the majority of businesses in Binh Duong operate in the industrial and export sectors, and are directly affected by the difficulties of the global economy.

According to the Department of Planning and Investment, the large number of businesses in Binh Duong leads to a high volume of work, with frequent unexpected new tasks in addition to the tasks assigned according to the regulations of the law. The number of files that a department or sector of the province has to handle every day is very large. This puts great pressure on business registration, while also affecting the satisfaction of businesses and impacting the provincial competitiveness index (PCI) of Binh Duong in recent times.

According to Mr. Dau Anh Tuan, Deputy Secretary General, Head of the Legal Department of the Vietnam Chamber of Commerce and Industry (VCCI), and Director of the PCI project, in recent years, the rankings of economic centers and major cities such as Ho Chi Minh City, Hanoi, and Binh Duong have been declining. As someone who has been following activities related to Binh Duong's PCI index for many years, Mr. Dau Anh Tuan believes that the province's PCI is not commensurate with its position, potential, and determination of the provincial authorities.

“Binh Duong always demonstrates determination in improving the PCI. This reflects a proactive awareness and action to timely and practical support businesses in the province. However, Binh Duong has a large number of businesses, so the workload is greater than other localities. Therefore, the province needs to pay more attention to the application of information technology to solve administrative procedures quickly,” Mr. Dau Anh Tuan commented.

Although there are still many points to reconsider, the highlight of the province in the past year is still the infrastructure. In terms of this index, Binh Duong has always been well evaluated in many years. Binh Duong continues to be an attractive investment destination with many advantages and suitable policies for domestic and foreign investors. However, according to provincial leaders, Binh Duong still needs to continue efforts to further improve the investment environment to better serve the needs of businesses and investors.

Mr. Le Thanh Toan, Deputy Director of the Department of Planning and Investment, said that Binh Duong strives to continue to be a leading destination for attracting investment, innovation, scientific and technological development, and creating an equal and safe business environment for people, businesses, and investors. To achieve this goal, in 2024, the province will continue to implement key tasks and solutions to improve the business environment and enhance competitiveness in order to adapt to the development trend and increase the resilience of the economy.

Reported by Ngoc Thanh – Translated by Vi Bao

• Vietnam-Singapore Industrial Park project in Ha Tinh inaugurated (26/06)
• Vietnam joins Algiers International Fair 2024 (26/06)
• First Vietnam-US Economic Dialogue held (26/06)
• Reviewing, completing master plan for An Binh station complex (26/06)
• Vietnamese dragon fruit makes a splash at Spinneys debut in Saudi Arabia (25/06)
• The making of green, clean, and aesthetic environment (25/06)
• Urgently completing procedures for the Government’s approval of Ben Cat drainage and wastewater treatment project (25/06)
• Vietnamese lychees become familiar to Thai consumers (23/06)