Economic foreign affairs to elevate Binh Duong's position

Dynamic and effective foreign economic activities have successfully attracted numerous high-quality foreign investment projects to the province. Binh Duong is continually enhancing its reputation, leaving a positive impression on international partners as a dynamic, friendly, and welcoming province.

Dynamic, effective

Since 2018, the Horasis Asia Meetings have been consistently held in Binh Duong. The region also regularly hosts significant international conferences, including successful events organized by the World Technopolis Association (WTA), as well as meetings from Japan, Korea, and Singapore. These programs have contributed to enhancing Binh Duong's position and reputation on the international stage.

Ms. Ha Thanh, Director of the Provincial Department of Foreign Affairs, stated that to effectively attract investment in 2024, Binh Duong organized numerous conferences and forums to engage with foreign investors, as well as participated in investment promotion seminars in other countries. The Department of Foreign Affairs worked to publicize the foreign affairs activities of provincial leaders, focusing on politics, economics, culture, trade promotion, and investment cooperation. This effort aims to expand and strengthen Binh Duong's relationships with countries, localities, and regions that have established friendly cooperative ties with the province. Furthermore, Binh Duong engaged in economic linkages and participated in international multilateral forums to optimize resources for socio-economic development, thereby enhancing the province's role, position, image, and prestige on the global stage.

Signing ceremony of memorandum of understanding on enhancing friendly cooperation and working minutes on sending and receiving personnel between Binh Duong Provincial People's Committee and Yamaguchi Provincial Government (Japan).

With creative approaches and innovations, Binh Duong has always been one of the outstanding localities in the country in attracting foreign investment. Up to now, the whole province has about 4,400 foreign investment projects with a total registered capital of more than US$42.4 billion from 65 countries and territories, ranking second in the country in attracting foreign investment capital, only after Ho Chi Minh City.

Strengthen investment promotion

Foreign investment capital has played a significant role in Binh Duong's integration into the international economic landscape. To further attract this vital source of funding, Binh Duong is committed to creating favorable conditions through various support mechanisms. The province is also focused on improving the investment environment and streamlining administrative procedures to better meet the needs of investors.

Mr. Vo Van Minh, the Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee, stated that Binh Duong highly values the interest of foreign investors. The positive outcomes of the friendly cooperation between Binh Duong and its partners and localities provide a strong foundation for exploring new potential collaborations. With the goal of viewing investors' success as the province’s success, Binh Duong is committed to continuously innovating to create an open investment environment, ensuring the most favorable conditions for investors to operate effectively.

From investment promotion conferences in the province to investment promotion seminars in other countries, provincial leaders affirmed that Binh Duong is transforming into a new development phase, aiming to build a green economy, digital economy, circular economy, semiconductor chips, and participate in the global value chain. For Binh Duong, green economic development is also the driving force to maintain growth and attract investment in a green and sustainable direction.

Binh Duong is implementing the Provincial Planning for the period 2021-2030, with a vision to 2050. Binh Duong will continue to invest in new and expand existing industrial parks but aim for higher standards in science, technology and environmental protection. In particular, Binh Duong focuses on developing industries associated with urban services to meet the increasingly stringent standards of international investors.

Speaking at the Horasis China Forum 2024, Dr. Jonathan Choi, Chairman of Sunwah Group (Hong Kong, China), said: “Binh Duong is on the way to developing into an international industrial city. Binh Duong is also promoting digital economy and green economy. That is why we have signed a memorandum of cooperation with Becamex IDC to develop electric vehicles, energy storage devices and many other products. Sunwah Group will also cooperate strategically with Binh Duong and Becamex IDC to shift the development of industrial parks towards green, smart, and sustainable direction.

In 2024, Binh Duong organized several working delegations to promote and attract investment from new markets in Asia, Europe, and America. These business trips achieved significant results in foreign affairs, strengthening friendly cooperation with localities and partners. They also highlighted investment opportunities and enhanced the image of Binh Duong as a dynamic, welcoming, and friendly destination for investors.

Notably, the Provincial People's Committee recently collaborated with the Yamaguchi Provincial Government in Japan to co-organize the 10th anniversary celebration of their friendly cooperation. This event underscored the strengthened partnership between Binh Duong province and Yamaguchi province, highlighting recent collaborative efforts and discussing plans for specific cooperation activities in the future.

The year 2024 marks an important milestone when Binh Duong signs a Memorandum of Understanding on establishing a new friendly cooperative relationship with the city of Heldeberg (Federal Republic of Germany) and signs a Letter of Intent with Henan province (China). Up to now, Binh Duong has established friendly cooperative relationships with 14 foreign localities and is an official member and reliable partner of 3 international organizations.

Reported by Ngoc Thanh - Translated by Ngoc Huynh