Novel impetus for investment attraction created

Update: 03-07-2024 | 14:03:22

A myriad of effective solutions to attract foreign direct investment (FDI) are being actively pursued in Binh Duong, with a focus on creating favorable conditions for investors and leveraging advantages such as a stable investment environment and a convenient location to enhance competitiveness.

Sustainable development together with investors

The provincial People's Committee has just agreed on a plan to organize a dialogue conference with foreign businesses in 2024. According to the plan, in the third quarter of 2024, Binh Duong will hold dialogue conferences with associations and foreign businesses from four main markets of Japan, China (Taiwan), English-speaking nations, and South Korea to announce the province's economic and social situation and attract investment, at the same time, listening to the opinions and proposals of representatives of associations and businesses to promptly resolve difficulties and obstacles, create conditions to support the production and business activities of enterprises.

The transportation infrastructure and industrial zones of Binh Duong are well-planned and fully developed, with regional connectivity and meeting the production and business requirements of domestic and foreign enterprises

During a recent working session with the new provincial leaders, Mr. Nozaki Takao, the new Chairman of the Japan Chamber of Commerce and Industry in Ho Chi Minh City (JCCH), stated that with a highly rated investment environment and strong development potential, Binh Duong province is a destination for investment that many foreign businesses are interested in. Currently, there are over 300 Japanese businesses operating in the province. According to Japanese businesses, Binh Duong province is expected to increasingly attract more Japanese citizens and businesses to live and invest.

Mr. Nozaki Takao, shared that in the coming time, JCCH will enhance the organization of exchange events between Japanese and Vietnamese businesses, along with many activities in the fields of economy, culture, and sports. JCCH hopes to receive the support of the leaders of Binh Duong province, and also wishes to continue having seminars and dialogues to provide Japanese businesses with opportunities to exchange and propose solutions to overcome difficulties in production and business activities.

Binh Duong still has many advantages in terms of transportation infrastructure, infrastructure of industrial parks with regional connectivity, meeting the production and business requirements of domestic and foreign enterprises. Currently, Binh Duong is focusing on preparing well the conditions to satisfy the needs of investors in order to enhance the effectiveness of cooperation, exploit the opportunities from the fourth industrial revolution to actively attract higher quality FDI capital inflows. Mr. Le Thanh Toan, Deputy Director of the Department of Planning and Investment, said that currently Binh Duong is focusing on investing in regional infrastructure projects, reforming the investment environment to increase attractiveness, create favorable conditions for production and business enterprises, and attract strong FDI inflows into the province.

To proactively tap new opportunities

As a dynamic and developing province, Binh Duong has been making efforts to promote bilateral and multilateral cooperation with localities and international organizations in order to develop the economy and society, enhance competitiveness, and actively integrate into the international community. Since the beginning of the year, the province has organized numerous conferences and forums to meet and exchange with foreign investors, as well as participate in investment promotion events in other countries. At the same time, enhance opportunities for exchange and connection between domestic and foreign businesses, contributing to promoting investment attraction and business cooperation.

In terms of planning orientation, Binh Duong is allocating 18,500 hectares of land for industrial urban areas and about 18,000 - 20,000 hectares for urban development. The goal by 2030 is to build and develop Binh Duong, along with other provinces and cities in the Southeast region, into an important driving force for national growth, promoting and spreading development with localities in the region, one of the dynamic and comprehensive development centers, a modern service industry center, a sustainable urban development model based on green growth.

Mr. Truong Van Phong, Deputy Head of the Industrial Parks Management Board of the province, said that in the first 6 months of 2024, the industrial parks in the province have achieved positive results. Production and business activities in the industrial parks are stable and growing, attracting high investment. Binh Duong currently has 28 operating industrial parks, with a total area of over 12,600 hectares, and an occupancy rate of over 93%. The current land fund of industrial parks in the province has reached a relatively high occupancy rate. The Provincial Industrial Park Management Board is also closely coordinating with infrastructure investors of industrial parks, especially those newly approved in planning, to implement construction and completion in order for investors to soon carry out production projects and attract more new projects in the future.

Aware of the special importance of attracting investment for socio-economic development, many solutions to attract quality FDI are being actively promoted in Binh Duong in the coming time. The province is focusing on investing in infrastructure; actively improving the investment environment, construction, and promoting the image of Binh Duong internationally. The province has planned about 18,000 hectares of industrial land to form a new generation industrial belt along the Belt Road 4, the Ho Chi Minh City - Thu Dau Mot - Chon Thanh expressway, the Ho Chi Minh Road (section passing through Binh Duong province). There will be nearly 200km of expressways connecting the province, linking airports, seaports etc. thereby creating new momentum and development space for the locality.

Mr. Mai Hung Dung, Member of the Provincial Party Committee, Deputy Permanent Chairman of the Provincial People's Committee, said that in addition to promoting infrastructure construction, resolutely improving the investment environment, enhancing the quality of human resources, and creating favorable conditions for production and business enterprises, attracting FDI capital, the construction and development of industrial parks have always been a concern of Binh Duong, and a lot of resources are allocated to implement them. Binh Duong is focusing on preparing well the conditions to meet the needs of investors in order to enhance the effectiveness of cooperation, actively attracting high-quality investment capital.

Reported by Ngoc Thanh – Translated by Vi Bao

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Novel impetus for investment attraction created

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