The southern province of Binh Duong will focus on the attraction of investment in hi-tech industries that are less labour intensive and more environmentally friendly.

The statement was made by Tran Thanh Liem, chairman of Binh Duong People’s Committee, at his meeting with James Ha, chairman of South Korea-based Sae-A Group, held in Binh Duong on Tuesday. Besides the existing industrial parks, Binh Duong Province plans to establish new industrial zones to welcome investment from foreign investors, Liem said, adding that by 2020, 14,000ha will be utilised for ​​industrial parks in the province.

Binh Duong will also develop a number of specific beneficial policies related to administrative procedures, land and facility construction to attract foreign investment, with the expectation that enterprises will continue to invest and expand their production, contributing to economic development of the locality, Liem said.

The province expects to receive feedback and sincere comments from enterprises on issues related to business operation to make reasonable adjustments and avoid difficulties and obstructions in the investment progress, he said.

Speaking at the meeting, James Ha said that at present, Sae-A group has more than 70,000 employees, of which nearly 19,000 are working in Viet Nam.

The group currently operates in the field of textile and garments, however, Ha said, the group plans to expand its investment into electronics and hi-tech in the future.

According to the provincial People’s Committee, South Korea is Binh Duong’s third-largest investor after Taiwan, China and Singapore, with 619 projects valued at more than US$2.69 billion.

In the first months of 2017, many South Korean investors continued to pour investment capital into Binh Duong with 16 new projects and 17 projects registered to increase capital, amounting to total investment of $306 million. — VNS