Efforts made to attract investment in high-tech industries

Update: 06-05-2022 | 14:40:42

To realize the goal of sustainable and smart development, Binh Duong continues to focus on high-tech industries, clean technology, advanced techniques right from first phases of inviting and attracting investment.

Binh Duong strives to raise investment capital in high-tech, environmentally friendly industries. In photo: A video conference on investment promotion with French investors is held by the province.

Smart development

In the first months of 2022, when the Covid-19 pandemic still had a significant impact on socio-economic development, but with appropriate mechanisms, policies and solutions, Binh Duong still attracted many domestic and foreign investors. Binh Duong is currently the second largest locality in the country in terms of FDI attraction, with a total of 4,042 projects from 65 countries and territories and a total registered capital of more than US$39.4 billion.

According to Mai Ba Tien, Director of Provincial Department of Planning and Investment, this result shows that Binh Duong is on the right track, which focuses on implementing the plan to build smart city with the main development orientation, namely, attracting investment in the high-tech industry, high added value, less labor intensive, environmentally friendly, modern and advanced technological innovation, improving product quality of enterprises to increase competitiveness in international economic integration; attracting investment in industrial parks, industrial clusters, forming science technology industrial parks and urban areas.

The commencement of VSIP 3 with an area of 1,000 hectares marked another step of creating an industrial and high-tech ecosystem for the province. When this industrial park comes into operation, Binh Duong will prioritize high-tech, less labor-intensive occupations. This is also an industrial park oriented towards green and sustainable development with state-of-the-art and synchronous designs for the use of energy, water, waste treatment to traffic management and security.

Teo Ban Seng, Managing Director of Sembcorp Development Group (Singapore), co-chairman of VSIP Group, said that with successful industrial development experience in both Singapore and Vietnam, investors from Singapore want to apply new technologies into VSIP 3, making it one of the first industrial parks in Vietnam to announce the concept of smart and sustainable industrial parks.

Selective investment attraction

According to Assoc. Prof. PhD. Hoang Vinh Long (Office of the Central Party), due to utilizing favorable characteristics and geography, Binh Duong has actively and boldly seized the opportunity, well implemented administrative procedures reform, created an open and transparent environment, building Binh Duong brand for investment attraction. However, high-tech industries in Binh Duong have had gloomy colors as investors in the province mainly come from Asia and have low levels of science and technology. Export products of the province are mainly wood furniture, garments, footwear, textiles... These are labor-intensive products, have not much high-tech content. Therefore, Binh Duong needs to form new policies to increase the efficiency of attracting FDI capital into high-tech industries.

Currently, countries and territories in Asia have total investment capital accounting for more than 75% of the total investment capital of the province. This shows that Binh Duong needs more effective solutions to attract FDI enterprises from more developed countries. Therefore, recently, the province has continuously held investment promotion conferences with investors from developed countries, such as the US, EU, Netherlands, Belgium, France, Japan, South Korea...

According to Dinh Toan Thang, Ambassador Extraordinary and Plenipotentiary of Vietnam to France, as the leading developed economy in the region, France has many strengths in fields of telecommunications, renewable energy, environment, biomedical, manufacturing industry, food industry, infrastructure, logistics services... With the available advantages of Binh Duong, Dinh Toan Thang believes that in the coming time, there would be many French businesses to invest in Binh Duong.

At an online investment promotion meeting with partners from Europe, Nguyen Van Danh, Vice Chairman of the Provincial People's Committee, emphasized that in the coming time, Binh Duong prioritizes attracting FDI capital for green transformation, such as sustainable energy, green economy, circular economy from developed countries, the world's leading potential partners with a modern level of governance, including European partners. Binh Duong focuses on attracting high-tech, environmentally friendly, less labor-intensive industries, creating high added value, such as financial services, logistics, auxiliary industries, high-tech agriculture, especially attracting investment in science and technology industrial parks; and set a vision of becoming the innovation center of the Southern key economic region.

Reported by Ngoc Thanh – Translated by Ngoc Huynh

Share

Efforts made to attract investment in high-tech industries

HIGHLIGHTS

MOST READ