Binh Dinh attracts 16 domestic projects worth $65 million

Thursday, Mar 17, 2022 15:00

Quy Nhon City in Binh Dinh Province. — Photo binhdinhinvest.gov.vn

The central province of Binh Dinh has lured 16 new domestically-invested projects with a total investment of nearly VND1.5 trillion (US$65 million) since the beginning of this year, the provincial Investment Promotion Centre announced this week.

These projects are in the industrial, tourism and real estate sectors. Among them is the VND800 billion Dam Thi Nai Amusement Park; a VND146 billion plant producing furniture from wood, metal, woven and fake rattan, and an urban area valued at over VND147 billion.

In terms of foreign investment, the province has not had any new projects so far this year. Currently, it is home to 86 foreign-invested projects with a total registered capital of over $1 billion.

Japan is the province's largest foreign investor with 18 projects, worth $89.5 million; followed by Singapore with 15 projects valued at $140 million and Hong Kong with 10 projects capitalised at $92 million.

In order to attract more investment from domestic and foreign investors, Binh Dinh is currently reviewing and adding new projects to the list of priority projects calling for investment in the province in the next three years.

The province is also carrying out administrative reform to reduce the time to settle investment procedures from 32 days to 25 days. It is striving to increase investment in transport and economic infrastructure to become an attractive destination for investors, focusing on sectors and technology.

At the same time, the province will continue to remove difficulties and creates favourable conditions for operating businesses to ensure production growth as planned.

Meanwhile, it will focus on developing the infrastructure of the Nhon Hoi Economic Zone and that of other industrial zones and clusters in the locality, to better facilitate investment projects, especially licensed ones. — VNS

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