Binh Duong seeks to attract foreign investors

Update: 08:57 | 01/10/2020
The southern province of Binh Duong has committed to further improving its investment climate to ensure it remains an ideal destination for foreign investors.
binh duong seeks to attract foreign investors
An industrial park in Binh Duong. (Photo: VNA)

The province 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 board, 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 has 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 has modern infrastructure and offers 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 has prioritised investment in high-tech industries, supporting industries, IT, precision engineering, trade, and services.

A total of 3,999 companies have been set up in the southern province this year with total capital of 26.95 trillion VND (1.16 billion USD).

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

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(Source: VNA)