Enhancing competitiveness, creating leverage for development

Binh Duong has always attached special importance to developing comprehensive socio-economic infrastructure facilities, always leading the country in infrastructure index in accordance with the annual provincial competitiveness index (PCI) report. In order to make resources for economic development, Binh Duong is continuing developing innovative strategies suitable to the new situation. Efforts should be made to improve the investment climate, enhance production and business efficiency of all economic sectors and create a leverage for more and more sustainable development.

Maintaining advantages

To become a land full of potential, further welcoming investors, Binh Duong is changing constantly. In addition to promoting infrastructure construction, drastically improving the investment climate, creating favorable conditions for enterprises in production and business, strongly attracting FDI inflows, continuing holding its position as one of the country’s leading localities in FDI attraction.

Binh Duong always creates favorable conditions for enterprises to work. In picture: Production at Bonfiglioli Vietnam Company in the My Phuoc Industrial Park 3

In 2022, the province's socio-economic situation continued getting thriving and achieved many positive and comprehensive results in all fields. With an open and attractive investment climate, in recent years, Binh Duong has always been one of the country’s top localities in FDI attraction. In 2022 alone, the province attracted US$3.1 billion. As of December 31, 2022, the province absorbed 4,085 investment projects from 65 countries and territories with total registered capital of over US$ 39.7 billion, ranking second in the country, only after Ho Chi Minh City.

Pham Trong Nhan, Director of provincial Department of Planning and Investment said that over the past time, the province made great efforts in improving the PCI, Par Index, PAPI... to create a good investment climate and attract capital from domestic and foreign enterprises to invest in the fields of industrial manufacture, commerce, services and technical infrastructure to promote socio-economic development. In 2022, despite the impact of the world and the region’s political and economic situation with complicated and unpredictable changes, many capital inflows still "flowed strongly" into the province. This achievement has shown the province's unremitting efforts as well as new and drastic ways in economic management, improvement of the investment climate, which has been appreciated highly by the business community and investors.

Troubleshooting motivational projects

In addition to direct dialogues with businesses, field trips to projects being implemented in the province, over the past time, provincial leaders and departments, sectors and localities continued reviewing obstacles of existing investment projects, with the goal of removing barriers and putting these projects into implementation and construction soon.

Recently, Vo Van Minh, Vice-Secretary of provincial Party Committee, Chairman of provincial People's Committee had a meeting with representative of Denmark’s Lego Group to exchange some investment information of the group in the province. In terms of the progress of the group's project of constructing a factory of more than US$ 1 billion in VSIP III, Preben Enef, General Director of Vietnam Lego Technology Co., Ltd. said that the project is being implemented under the plan. In order to put the factory into operation in June 2024 as planned, he wanted the province and VSIP to quickly complete land procedures, creating all conditions for the group to implement the project in the soonest time.

After hearing comments from Lego Group, Vo Van Minh asked for departments to sit down with Lego to solve all difficulties that the corporation is facing, actively coordinate in the implementation of the next steps so that the project will be implemented smoothly. He also suggested functional agencies to further monitor and regularly organize working sessions with the group to solve problems in order to speed up the progress of the project. He added that Binh Duong is making every effort to get Lego's project into operation soon. He pledged that the local government has always accompanied, listened to investors’ aspirations, supported them to operate effectively, greatly contributing to the local sustainable development in the coming time.

“With specific solutions, the province is still making efforts to implement many central and local policies to accompany and support businesses. In the socio-economic development program for 2023, the province will further promote administrative reform, build infrastructure facilities, train high-quality human resources and create an attractive business climate for investors. In particular, the province will focus on implementing main tasks and solutions to improve the local business climate and enhance competitiveness in order to adapt to the development trend of the 4th industrial revolution and increase the resilience of the economy", emphasized Mr. Minh.                            

Reported by Ngoc Thanh-Translated by Kim Tin

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