Province proactively invites and attracts investment in the new situation

Recognizing the particularly important role of investment attraction to socio-economic development, many quality FDI attraction solutions are being promoted by Binh Duong. In addition, the province is focusing on investing in infrastructure, actively improving the business and construction investment environment, and promoting Binh Duong's image internationally.

Binh Duong and Yamaguchi province sign a health care cooperation agreement between the two localities.

Attract many quality projects

Not only increasing in quantity, but recently Binh Duong has also continued to mark its transformation in increasingly quality FDI capital flows. Many projects in fields of technology, processing, manufacturing, energy, and logistics are gradually replacing previous projects with little added value. Up to now, the province has attracted nearly 4,200 FDI projects with a total investment capital of more than US$40.2 billion from 65 countries and territories for investment, production and business. Binh Duong is the second-ranked locality in Vietnam in FDI capital attraction.

After investing in factory building, the Lego Group is currently preparing to recruit workers to operate its factory in Binh Duong. In the immediate future, from now until the end of 2023, Lego will recruit about 100 employees and will increase to 500 people in 2024. Preben Elnef, Vice President of Lego Group, General Director of Lego Vietnam, said the total number of direct employees in the next 15 years will be 4,000 people. In addition, there are also indirect jobs for local businesses and communities.

Similarly, Pandora Group also plans to recruit more than 6,000 skilled workers for its new factory in Binh Duong. Michael Zinck Jensen, Project Manager of Pandora Production Holding Company in Binh Duong, said this is Pandora's third facility in the world and the first production facility in Vietnam, producing 60 million jewelry products every year and creating jobs for more than 6,000 people. The project began construction in early 2023 and will begin production at the end of 2024. Company leaders hope to be able to find enough personnel when the factory goes into operation.

Many solutions to attract quality FDI capital flows are being promoted by Binh Duong in the coming time. In particular, Binh Duong will still focus on creating favorable conditions for investors, promoting the advantages of a stable investment environment and favorable location, while enhancing competitiveness from improving the business environment, labor resources, technical infrastructure...

Proactively exploit new opportunities

Sharing about investment cooperation opportunities with Sunwah Group during a recent business trip to Guangzhou City of Guangdong Province (China), Nguyen Van Loi, Member of the Party Central Committee, Secretary of Binh Duong Provincial Party Committee, Head of Provincial National Assembly delegation, emphasized that Binh Duong always improves the investment environment, enhances competitiveness, and invests in infrastructure upgrade. The province plans to build and expand industrial parks (IPs), creating a clean land fund to attract investment; urban development planning, social housing construction, housing for workers; human resource training, providing adequate and timely labor resources for businesses investing in the province.

Besides, the province is taking advantage of new opportunities, especially right after Vietnam and the United States raised their partnership to a comprehensive strategic level. Recently, People's Committee of Binh Duong province and Becamex IDC Corporation proactively organized a US investment promotion workshop at the World Trade Center Utah (WTC Utah) in Salt Lake City, Utah.

Wishing that American and Binh Duong businesses will have many opportunities for cooperation in the coming time, Chairman of Binh Duong Provincial People's Committee Vo Van Minh affirmed that Binh Duong always creates conditions to exchange information about cooperation opportunities with US partners. Binh Duong is currently the leading industrial production center in Vietnam, this is an opportunity for US businesses to invest in the province. The Binh Duong provincial government always accompanies and creates the most favorable conditions for businesses to produce and maintain supply chains through dialogues and contacts with associations and businesses, including US businesses. Binh Duong always listens and promptly resolves difficulties and problems of businesses and investors.

As the industrial "capital" of the country, Binh Duong is geographically located near seaports, airports, logistics centers, and has green and circulatory industrial parks. Besides, dynamic and effective foreign economic activities have helped Binh Duong attract more and more quality FDI projects. Binh Duong currently has 29 industrial parks, total area of more than 12,600 hectares, occupancy rate of 91%. The current land fund of industrial parks in the province has achieved a fairly high occupancy rate. Therefore, the province is planning 15 more industrial parks with a total area of 10,200 hectares to meet the requirements of attracting and arranging investment projects.

 Since the beginning of the year, Binh Duong has organized many conferences and forums to meet and exchange with foreign investors, as well as participate in seminars on investment promotion in other countries. Provincial leaders proactively promote direct investment in other countries, promote Binh Duong brand - a dynamic, creative and effective industrial province. The province enhances opportunities for exchange and connection between domestic and foreign businesses, promoting investment attraction and business cooperation, aiming to build Binh Duong into a smart city with sustainable development.

 Reported by Ngoc Thanh - Translated by Ngoc Huynh