Investment environment improved to win trust of enterprises

To proactively welcome large investors, in the 2024 socio-economic development program, Binh Duong continues to promote administrative reform, build e-government, improve infrastructure, and train High quality human resources, creating an increasingly attractive business environment.

Binh Duong always strives to improve the investment environment and accompany businesses in sustainable development. In the photo: Production activities are at NTI Vina Co. Ltd. of VSIP II Industrial Park

Capital increased, confidence improved

Talking with provincial leaders about investing an additional 250 million USD in Binh Duong, Mr. Yeh Ming Yuh, General Director of Polytex Far Eastern (Vietnam) Co. Ltd., said that the advantage of infrastructure, modern and basically complete traffic floors and industrial parks has made Binh Duong the priority choice of domestic and foreign investors who always appreciate the province's efforts and determination in improving the investment and business environment, the government's dynamism in approaching new investors, as well as providing support solutions to cooperate and listen. Recent achievements in attracting investment will be an opportunity for Binh Duong to continue promoting its image and attracting investment of large corporations.

With an open and attractive investment environment, Binh Duong has always been one of the leading provinces and cities in the country in recent years in attracting foreign direct investment. Accumulated by the end of 2023, the whole province has 66,102 enterprises registered for business with more than 726,847 billion VND of domestic investment capital along with more than 4,220 FDI projects from 65 countries and territories with a total registered capital of over 40.3 billion USD. Binh Duong currently ranks second in the country in attracting FDI after Ho Chi Minh city.

According to Mr. Trinh Hoang Tuan Anh, Deputy Director of the Department of Planning and Investment, the results achieved in attracting FDI and investment capital in the nation and in the context of many difficulties and challenges affecting the province's socio-economy shows that Binh Duong is still an attractive destination for investors, aka investors' confidence in business prospects in Binh Duong. To proactively welcome large investors, Binh Duong continues to promote administrative reforms, build infrastructure, train high-quality human resources, and create attractive business environment for investors in the 2024 socio-economic development program.

The contributions of foreign investors to the industrial production value of the entire province are huge. Continuing to attract large, high-tech projects with spillover effects and links with domestic businesses, Binh Duong is on track to build plans and effectively deploy breakthrough tasks and solutions to more effectively and sustainably attract FDI inflows.

Companion effort

Besides the achieved results, many difficulties, problems, and inadequacies that require real companionship and effort from all sides persist. In the context of complex fluctuations in the world and domestic economy, many businesses are forced to reduce capacity or temporarily suspend operations. In 2023, more than 700 businesses had to temporarily suspend their operations or dissolve.

Together with departments, branches and localities in the province, the provincial Tax Department and Customs Department always strive to accompany the business community. Both sectors focus on promoting propaganda and support through organizing dialogue conferences and answering problems for businesses. According to Mr. Nguyen Tran Hieu, Director of the provincial Customs Department, 2023 faced complex developments with many risky and unpredictable factors of the world and regional situation. However, the provincial customs soon predicted the situation and had timely solutions to carry out the political tasks to accompany businesses. Reformed administrative procedures, active organization of dialogue conferences were to directly listen and solve problems for businesses in the process of implementing customs procedures. In addition to solutions to support businesses in overcoming difficulties, the province has promoted the implementation of e-government as a foundation towards digital government to modernize the administrative system, contributing to strongly improving the investment and business investment, promoting sustainable socio-economic development.

Recently, Mr. Vo Van Minh, Deputy Secretary of the provincial Party Committee, Chairman of the Provincial People's Committee chaired a dialogue conference with foreign branches and businesses in the province. The Head of the provincial People's Committee pledged to make every effort to accompany businesses and investors in the development process, and at the same time direct all levels and sectors to drastically resolve problems related to electricity and safety, keeping on with investment and support so that businesses can feel secure in production and business operations.

According to Mr. Vo Van Minh, accompanying and supporting businesses is one of the key tasks that Binh Duong is always determined to carry out. In particular, in the current stage when businesses are still experiencing great difficulties due to the impact of the world economic situation which is expected to continue to fluctuate in a very complex and unpredictable manner and is having negative impacts on businesses, requiring more practical and effective companionship.

Reported by Ngoc Thanh – Translated by Vi Bao