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Binh Duong: Many advantages to attract investors in the high-tech industry in the 4.0 era

(BDO) On December 9, at Binh Duong Convention and Exhibition Center, Binh Duong New City World Trade Center (WTC BDNC) in collaboration with the Department of Industry and Trade and Becamex IDC Corporation held a conference Binh Duong investment promotion proposal 2021.

The program is organized with the aim of improving provincial competitiveness and continuing to attract and promote foreign investment (FDI) into Binh Duong province in the context of the “new normal” after the Covid-19 pandemic.

The program also has 2 online sessions with demand points in the European market (EU) and the Canadian market, with the theme “Opportunities and potentials for international investors in the context of the “new normal”. “in Binh Duong province”. Connection sessions are conducted for the purpose of introducing projects and plans developed by investors; discussions, seminars to answer enterprises’ questions about FDI. At Binh Duong Bridge, attending the conference were Mr. Mai Hung Dung, Standing Member of Provincial Party Committee, Standing Vice Chairman of Provincial People’s Committee; Mr. Frank de Laat, Deputy Consul General of the Netherlands in Ho Chi Minh City; Mr. Alain Cany, President of the European Business Association in Vietnam (Eurocham Vietnam); Dr. Nguyen Viet Long, Director of Department of Science and Technology; Mr. Nguyen Thanh Toan, Director of Department of Industry and Trade; Mr. Le Phu Hoa, Director of Department of Foreign Affairs; leaders of Becamex IDC Corporation, WTC Binh Duong Company Limited and a number of European enterprises in Binh Duong.

At the Dutch bridge, there were Mr. Pham Viet Anh, Vietnamese Ambassador to the Netherlands; Ms. Vo Thi Ngoc Diep, Commercial Counselor of Vietnam in the Netherlands; Mr. Evert-Jan Schoustra, Executive Director of World Trade Center Leeuwarden (WTC) and more than 100 Dutch investors.

 

Great potential and advantages for development

Over the years, Binh Duong province has always been evaluated as one of the leading provinces and cities in the country in terms of socio-economic development and the speed of attracting FDI. Gross domestic product (GRDP) of the province has always achieved a relatively high growth rate compared to the average growth rate of the whole country. The economic structure of the province has shifted positively towards gradually increasing the proportion of services and industry.

As one of the strong industrial development provinces of Vietnam, over the years, Binh Duong has constantly improved the investment environment, enhanced competitiveness and increased support for the development of investment enterprises in the world. In the province, through completing the socio-economic infrastructure system such as traffic, water supply, electricity, environmental treatment, simplifying administrative procedures, planning to expand industrial parks, creating clean land fund for investment attraction; deploy human resource training, build social housing, housing for workers, provide adequate and timely labor resources for businesses to invest in the province. Provincial leaders always create favorable conditions, promptly solve difficulties and problems of investors and businesses so that investors and businesses can operate effectively. In the first months of 2021, despite many difficulties due to the Covid-19 pandemic, many foreign investors still accompanied and chose Binh Duong province as an investment location. In 2021, despite facing many difficulties and challenges due to the Covid-19 epidemic, the province’s index of industrial production (IIP) is estimated to increase by 4.5% compared to 2020; export turnover is estimated at 31.5 billion USD (up 13.5%); import turnover is estimated at 24.6 billion USD (up 14.7%). Trade surplus in 2021 will reach 6.8 billion USD.

 

Binh Duong is the 2nd locality in the country in terms of attracting foreign investment after Ho Chi Minh City.

After nearly a month of returning to the “new normal”, enterprises in industrial parks in Binh Duong quickly reorganized production and business activities, ensuring safety in the prevention and control of the Covid-19 epidemic. . As of November 15, Binh Duong has attracted 64 new FDI projects, 24 capital adjustment projects and 161 investment projects in the form of capital contribution/share purchase with a total registered investment capital of more than 2 billion USD. US dollars. Up to now, the province has 4,011 FDI projects from 65 countries and territories, with a total registered capital of 37 billion USD.

Foreign investors have invested in 6 industries and fields, in which the processing and manufacturing industry continues to be the field attracting much attention from foreign investors, with a total investment capital. reached US$964 million, accounting for 77% of the total registered FDI in the province in the year. Real estate business ranked second with a total capital of 229.4 million USD, accounting for 18.3% of total registered investment capital. Followed by the wholesale and retail sectors, transportation, construction.

Mr. Gabor Fluit, General Director of De Heus Asia, said: In 2008, many European businesses chose Binh Duong province as a place to invest in production and business development. Enterprises evaluate Binh Duong as a province with synchronous and modern infrastructure; Binh Duong’s administrative policies take the lead in attracting FDI. The province has implemented many solutions and policies to attract good investment, create favorable conditions for businesses to operate and develop.

Expanding the market in the international arena

In addition to promoting the development of socio-economic, Binh Duong also actively expands bilateral and multilateral cooperation in many fields, creating breakthroughs to expand the market in the international arena. Up to now, Binh Duong province has established bilateral cooperation relationships with 10 foreign provinces and cities, affirming its brand and reputation in the international arena.

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Along with promoting bilateral cooperation, Binh Duong also develops multilateral cooperation. Binh Duong is currently an official member and reliable partner of 3 international organizations including: World Smart Community Forum (ICF), Asian Economic Cooperation Forum (Horasis) and China Association World Trade Center (WTCA). In the past time, Binh Duong province has been actively cooperating with foreign partners to build and implement the project of Binh Duong Smart City, Binh Duong Innovation Zone, especially the project of Binh Duong Smart City. Binh Duong Science and Technology Industry with a vision to become the innovation center of the Southern Key Economic Region.

With the right development orientation and by its own efforts, Binh Duong province has achieved some very encouraging results and is the first locality of Vietnam to officially become a member of ICF. Continuously for 3 years 2019, 2020 and 2021, Binh Duong has been honored by ICF as one of 21 cities and regions with typical smart city development strategies of the world (SMART 21). In particular, in July 2021, Binh Duong province was honored in the top 7 by ICF, becoming one of 7 communities with typical smart development strategies in the world.

Mr. Alain Cany said: “Binh Duong is one of the three important localities in cooperation with Eurocham Vietnam. We want to further promote cooperation with Binh Duong in the near future. Eurocham Vietnam has always been an investment partner, sustainable, standing side by side with Binh Duong, especially in the current new normal.

A representative of Becamex IDC Corporation said that in the development strategy, Binh Duong province will continue to implement the Binh Duong Innovation Zone Project, with the planning of a Science and Technology Industrial Park, a bright startup ecosystem. create and promote the proportion of services, especially e-commerce and international trade with the typical project of WTC BDNC.

Priority is given to attracting investment in high-tech industries

In the coming time, Binh Duong province gives priority to attracting investment in high-tech, environmentally friendly, less labor intensive industries and fields, creating high added value; along with financial services, logistics; supporting industries, high-tech agriculture and especially attracting investment in the Science and Technology Industrial Park on the basis of industry 4.0 from developed countries, the world’s leading potential partner with the modern management level, high-tech industry, including European partners and Canadian partners.

Dr. Nguyen Viet Long said that the orientation in the coming time is Binh Duong to shift the development model towards attracting services and developing high technology. The important role of science, technology and innovation policy is attracting great attention in the domestic market. Binh Duong is vibrant with science and technology events associated with the province’s trade and investment promotion.

“Currently, the province is promoting the implementation of many provincial projects; implementing projects, research on international cooperation through the European Union-Vietnam Free Trade Agreement (EVFTA) with organizations. In the coming time, the province will implement programs to improve productivity, quality, science and technology to support businesses.

Innovation plays an important role in attracting high-tech investment, typically the Innovation Zone of Becamex IDC with a good geographical location. In particular, the WTC Complex is a bright planning point for science, technology and innovation to attract high-tech investment,” said Dr. Nguyen Viet Long.

By: Binh Duong Newspaper