Province creative, overcoming difficulties, gaining growth in FDI attraction

Update: 08-12-2021 | 11:26:27

Part 2: Selectively attracting investment projects

Binh Duong has ranked second nationwide in FDI attraction with US$37 billion. The province has further given priority to attracting investors from developed countries, the world's leading potential partners with modern management, high-tech and environmentally friendly industries, creating high added values…

Flexible investment promotion

The outbreak of the Covid-19 pandemic in the world has greatly affected the travel and cooperation of foreign investors. Binh Duong's investment attraction has also affected by the pandemic. Amid difficulties, many foreign investors still see Binh Duong as a "good land" for long-term development. This is clearly shown when the 4th wave of Covid-19 is breaking out strongly, many FDI enterprises have still boldly poured more investment into Binh Duong.

To further build an attractive investment climate, Binh Duong has always attached special importance to developing a synchronous transport system, building up a modern industrial infrastructure system with connectivity. In picture: VSIP 1 is fully covered by investors

Eliseo Barcas, General Director of Tetra Pak Vietnam said that despite the complicated developments of the pandemic, Tetra Pak has still decided to invest additional 5 million euros in its 120 million euro packaging material factory. In the coming time, if Binh Duong continues effectively implementing anti-Covid-19 measures while creating favorable conditions for enterprises to recover, maintain, develop production, business activities and circulation of goods, overcoming the disruption of supply chains, the province will continue being an attractive destination for foreign investors.

Thanks to having an effective investment attraction strategy, since early this year, the province has still absorbed a new "wave" of investment from a number of foreign investors with prestige in industrial manufacturing amid the complicated developments of the pandemic. This is also the result of the efforts by the province in further making online "marketing" promotion. According to Le Phu Hoa, Director of provincial Department of Foreign Affairs, in the face of difficulties caused by the pandemic, the province is still interested in effectively exploiting the relationship with investment promotion focal points in foreign markets. During the peak period of Covid-19 pandemic, the province urgently organized 7 online conferences to work and solve difficulties of associations and investors. In addition, the province accelerated the organization of many online conferences with large markets such as Japan, Korea, Taiwan, Italy, Thailand, the U.S, European countries…

Recently, at the online conference on the US investment promotion, Vo Van Minh, Vice-Secretary of provincial Party Committee, Chairman of provincial People's Committee affirmed that Binh Duong has still continued implementing the motto of always making efforts to stand side by side with investors; created all favorable conditions for foreign investors to work effectively. Currently, Binh Duong is flexibly adapting to, effectively controlling the Covid-19 pandemic to recover the local economy, continuing to build up the image of a safe investment location for domestic and foreign investors.

Improving investment quality

Binh Duong has set the target of absorbing more than US$ 9 billion in FDI capital for the 2021-2025 period. Noticeably, the province has given priority to high-tech projects that are less labour-intensive with high added values. According to Bui Minh Tri, Head of provincial Industrial Parks’ Management Board, from now to 2025, Binh Duong has set a target of developing sustainable industrial parks under the "3 in 1" model (industrial park - urban area - service zone) with a synchronous and modern system of technical and social infrastructure. Therefore, the province has set up many incentives policies to support investment in industrial parks. In the coming time, investment attraction in the province's industrial parks will have a positive change, be more substantive, more selective in the direction of specialization, ecology, intelligence and will create a new attraction. The local existing and new industrial parks are having many solutions such as preparing clean, synchronous and modern infrastructure to improve their competitiveness and attractiveness

Mai Ba Truoc, Director of provincial Department of Planning and Investment said that Binh Duong has always been one of the country’s leading localities in FDI attraction. Noticeably, in 2021, although the Covid-19 pandemic has had a strong impact on investment activities, Binh Duong has still attracted more than US$2 billion in FDI capital. Noticeably, in 2021, although the Covid-19 pandemic has created a negative impact on investment activities, Binh Duong has still attracted FDI capital very effectively. The province has focused on attracting FDI projects with high technologies, modern management ways, pervasive effects on technology, connection of global production and supply chains.

Vo Van Minh, Vice-Secretary of provincial Party Committee, Chairman of provincial People's Committee affirmed that with the local efforts in improving the investment climate, the quality of human resources, infrastructure facilities..., the province has continuously got thriving in FDI attraction. Attracting FDI has become an important funding channel, directly promoting economic growth, creating jobs and significantly contributing to the local State budget. Binh Duong is planning to implement an investment attraction strategy for the next period with focus on improving investment quality, choosing investment technology in accordance with the local development orientation. In the coming time, the province will continue mobilizing all investment resources for development, in which FDI attraction further plays an important role. The province's consistent view is still that investment attraction must aim at sustainable development, environmental protection, ensuring the harmonization of interests between the State - enterprises - people.

*Ykeda, General Director of Sakai Chemical Vietnam Co., Ltd.: Binh Duong has implemented many strong, quick and timely measures to change to safe, flexible adaptation to, effective control of the pandemic, focused on making good use of opportunities to promote the local recovery and development. With the goal of "living safely and flexibly with the pandemic", I believe that the local enterprises will completely resume production and business activities. This is also an opportunity for Binh Duong to further attract quality investment projects.

*Chang Ching Huang, President of province-based Taiwan Merchants Association: Binh Duong is one of the fastest growing localities in Vietnam. Especially, Binh Duong's transport infrastructure is fully and synchronously invested, becoming one of the local attractive points for investors. Provincial leaders have always created all favorable conditions for investors to work effectively. Hopefully, Binh Duong will continue becoming a dynamic, innovative, convenient and safe locality and a new destination with attractive investment opportunities for investors.

In order to attract sustainable, in-depth and quality FDI capital, Binh Duong province is making efforts to implement many solutions to soon remove bottlenecks in traffic infrastructure, logistics and quality of human resources. In addition, the province has focused on implementing the right roadmap for smart city projects with key development orientations such as attracting investment in high-tech, auxiliary industries, financial services, logistics…, especially attracted investment in the Science - Technology Industrial Park with the vision of becoming an innovation center of the Southern key economic region. (Vo Van Minh, Vice- Secretary of provincial Party Committee, Chairman of provincial People's Committee)

Reported by Ngoc Thanh-Translated by Kim Tin

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Province creative, overcoming difficulties, gaining growth in FDI attraction

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