Investors’ success is Viet Nam’s success: Deputy PM

Tuesday, Nov 26, 2019 08:52

Deputy Prime Minister Vuong Dinh Hue and Binh Duong leaders at the grand opening ceremony of the 2019 Asia Meeting in Binh Duong on Monday. — VNS Photo Thu Ngan

The Government has pledged to facilitate foreign investors doing business in Viet Nam, including Binh Duong, since “your success is our success”, Deputy Prime Minister Vuong Dinh Hue said.

His assurance came at the opening of the two-day 2019 Horasis Asia Meeting in Binh Duong Province on Monday.

Viet Nam has successfully integrated into the global and regional economies with the signing of many trade agreements in recent times and in the near future, and the Government would try its best to co-operate with partners and friends in the region and around the world to develop economic and trade co-operation to achieve the goal of peace, prosperity and stability in Asia and the world, he said.

At the opening ceremony, Hue called on investors to come to Viet Nam.

Binh Duong, a province in the country’s Southern Key Economic Zone, has for years been a magnet, attracting foreign visitors and is one of the biggest destinations for foreign investment in the country.

At the Horasis meeting on Monday, many investment opportunities were introduced to foreign investors.

Mai Hung Dung, standing deputy chairman of the provincial People’s Committee, listed some key sectors that the province has prioritised, including smart city development, manufacturing, infrastructure, information and communications technology, high-tech industry, supporting industries, services, and trade.

“As one of the provinces in the Southern Key Economic Zone, Binh Duong’s economic growth is 1.5 times the national average.

“Binh Duong always rolls out the red carpet to welcome investors.”

A report tabled by the province at the meeting said so far US$35 billion worth of foreign direct investment has come from 64 countries and territories.

It is the first province in Viet Nam to be named one of the world’s Smart21 communities by the Intelligent Community Forum for two consecutive years.

Last week, the province became a member of the World Trade Centres Association even as it announced plans to develop the World Trade Centre Binh Duong New City.

Horasis successfully wraps up, connects investors

After starting on Sunday, the 2019 Horasis Asia Meeting on Monday continued to discuss the global and Asian economic outlooks as well as the challenges and opportunities for Asian economies.

While a delegate from Japan spoke about the challenges brought about by an ageing population and issues like artificial intelligence and stem cell, one from India spoke about technology growth in his country.

A Singapore delegate talked about the migration of foreign investors when faced with difficulties arising from the US-China trade dispute.

Other issues discussed at the meeting were nurturing innovation through to commercialisation, meeting anti-pollution goals, encouraging the young to speak up, evolving smart cities for work and play, developing stronger leadership training, absorbing geo-economic tensions, what’s next for Asia’s booming fintech, and maintaining Asian ethnic vitality.

Horasis has opened many avenues of co-operation for investors and companies.

A memorandum of understanding was signed between NUS Enterprise, the entrepreneurial arm of the National University of Singapore, and Binh Duong’s Becamex IDC Corporation for the establishment of BLOCK71 in Viet Nam, an NUS Enterprise initiative to promote innovative start-ups in both countries.

Under it, start-ups from both countries can take advantage of BLOCK71’s global network of resources and contacts to gain access to international markets and Vietnamese start-ups can make use of NUS Enterprise’s entrepreneurial hubs in the US, Indonesia, China and Singapore to enter these markets.

The initiative facilitates greater connectivity and access to programmes between the two countries and in the region.

Incubation support, pilot opportunities for business ideas and technologies, and strong start-up communities are also among targets of the BLOCK71's establishment.

The initiative in Viet Nam is the latest expansion of NUS’s global network of entrepreneurial gateways to overseas hubs to help start-ups gain access to new markets and promote access to education and innovation programmes in NUS for Vietnamese students and start-ups.

It can create a lively, innovative start-up eco-system and promote exchange of talents, technology and start-ups between Singapore and Viet Nam, according to Prof Freddy Boey, deputy president of NUS (Innovation and Enterprise).

Nguyen Van Hung, chairman of Becamex, said: “We are delighted to establish strategic co-operation with NUS, Asia’s leading university, to support entrepreneurs and local talents in their entrepreneurial learning and pursuits. We also welcome global start-ups who aspire to venture into Viet Nam’s thriving market and gain access to local tech talent.”

Becamex signed an MoU with the HCM City-based National Research Institute’s Applied Mechanics and Informatics Institute for the establishment of a hi-tech R&D centre in Binh Duong to develop research and applied science, promote technology transfer and train hi-tech manpower.

The 2019 Horasis Asia Meeting in Binh Duong New City was hosted by the provincial People's Committee in collaboration with Horasis Global Vision Community, Becamex IDC Corporation, VSIP Group, the All India Management Association, and the Young Premier Leadership Organisation.

It brought together more than 400 senior executives and CEOs from more than 60 countries and territories, more than 600 leaders of leading companies in Viet Nam and central and local leaders.

This was the fourth Horasis Asia Meeting and the second time it has been held successfully in Binh Duong.

This year, it plays a key role in a series of events related to Binh Duong Smart City 2019. — VNS

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