A corner of Binh Dinh Province. The province was speeding up administrative reforms and improving the investment climate to attract foreign investors. — Photo baodautu.vn
Binh Dinh Province has proposed two large projects to be added to the list of those calling for foreign direct investment (FDI) in a recent report sent to the Ministry of Planning and Investment.
One is an automobile plant project with a capacity of 30,000-50,000 units per year, covering 50 hectares in Becamex – Binh Dinh Industrial, Urban and Service Complex. The project is expected to need an investment of US$250 million.
Mitsubishi Motors Viet Nam is looking for an appropriate destination for its second plant in Viet Nam with an investment of about $250 million.
At a working session with Binh Dinh authorities in June, Mitsubishi Motors Viet Nam’s general director Kenichi Horinouchi said the south-central coastal province was among the company’s top choices thanks to the developed transport and technical infrastructure system coupled with a huge clean land fund which was favourable for building automobile component plants.
Chairman of the provincial People’s Committee Ho Quoc Dung said he expected Mitsubishi Motors would invest in the province, pledging favourable policies for foreign investors, especially the automobile plant.
Dung said the province was speeding up administrative reforms and improving the investment climate, which together with the availability of clean land would create favourable conditions for foreign investors.
The second project is a 300-bed hospital in Nhon Hoi Economic Zone which would cover an area of 3.5 hectares and have total investment of $15 million.
The previous list of projects seeking investment in Binh Dinh included four, of which a $24 million hospital and a $4 billion thermo-electricity centre are no longer seeking investment as projects are no longer appropriate to the province’s development planning.
The other two projects, including Cat Nhon solid waste treatment project with an estimated investment of $75 million and a road upgrade project worth around $100 million, found investors.
According to the provincial Economic Zone (EZ) Management Board, Nhon Hoi EZ and other industrial zones (IZs) in the province attracted 33 FDI projects as of February, worth $506 million in registered capital. Twelve countries and territories have invested in Ezs and IZs in the province with China, Singapore and Japan being the largest investors.
The Ministry of Planning and Investment’s statistics showed Binh Dinh attracted more than $2.3 million FDI in January-July, with two new projects and one existing project raising its registered capital. — VNS