The People’s Committee of Binh Dinh Province and the German Industry and Commerce Delegation in Viet Nam held a conference on Monday to promote the European country’s investment in the central locality.

Secretary of the provincial Party Committee Ho Quoc Dung expressed his hope for stronger partnerships with German enterprises, especially in fields such as electronic component manufacturing, automobile supporting industry, seaport infrastructure, industrial park infrastructure, energy, tourism, high-tech agriculture, fisheries, trade in services, and environmental protection.

He called on German enterprises to expand their investment and assist local firms to engage more deeply in supply and value chains.

Binh Dinh would provide maximum support for foreign investors, enterprises, and partners, including those from Germany, to seek chances for successful, sustainable, and long-term investment in the province and help fuel the development of local businesses, he said.

However, Dung also pointed out that German investment in the province remained modest and had yet to match the potential, adding Binh Dinh had attracted just four investment projects worth over US$55 million from Germany, mainly in industrial production.

Pham Anh Tuan, Chairman of the provincial People’s Committee, said special incentives for investors would be issued such as the ones on corporate income tax, import tariffs, and land rent.

At the event, Binh Dinh authorities and the PNE AG company signed a memorandum of understanding on cooperation in an offshore wind power project. The 2,000MW project is expected to have US$4.6 billion in investment. — VNS