Binh Duong seeks to attract foreign investors

Wednesday, Sep 30, 2020 09:43

Binh Duong Province hopes to attract foreign investments by creating a conducive business environment. — Photo internet

The southern province of Binh Duong has promised to further improve its investment climate to ensure it remains an ideal destination for foreign investors.

It has greatly improved road infrastructure to enhance transport connectivity with HCM City and nearby provinces, developed concentrated industrial zones and attracted workers from provinces and cities around the country.

According to Bui Minh Tri, head of the province industrial zones (IZs), management, as one of the fastest growing provinces in the key southern economic zone, Binh Duong is among the hottest investment destinations in the country.

Therefore, it is always looking for means to develop transport infrastructure to help ship goods to other provinces as well as abroad without suffering from congestion.

It plans to further improve connectivity by developing waterways and, in the future, a rail link to transport goods to ports in HCM City and Dong Nai Province.

Mai Hung Dung, deputy chairman of the province People’s Committee, said one factor that had attracted investors to Binh Duong was its infrastructure development.

The widening of major roads such as Highway No.13 and My Phuoc - Tan Van that run between concentrated industrial zones had created a big advantage in transporting quickly efficiently to ports.

Sompob Witworrasakul, general director of Vina Kraft Paper Co., Ltd, said his company chose Binh Duong to invest in because it had modern infrastructure and offered convenience in goods transport.

Besides, it was a leading province in plans to create a smart city.

Under the smart city scheme, Binh Duong aims to improve its workforce’s skills and education, expand R&D activities and develop a start-up eco-system, attract more FDI in high-tech manufacturing, and improve transport, ICT infrastructure and living conditions.

Binh Duong New City will be the centre of the Binh Duong Smart Province and house the most important urban areas, research and educational institutions and industrial zones.

Dung said the province had prioritised investment in high-tech industries, supporting industries, IT, precision engineering, trade, and services.

A total of 3,999 companies have been incorporated in the southern province this year with total capital of VND26.95 trillion ($1.16 billion).

The figures represent year-on-year declines of 2.5 per cent in number and 1 per cent in total capital caused mainly by the impacts of the COVID-19 pandemic. — VNS

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