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Confident in the prospect of attracting foreign investment

Binh Duong’s outstanding results in attracting foreign investment (FDI) have significantly contributed to the province’s overall economic growth “picture” in 2021. Business community’s (DN) confidence in Opportunities and potentials are increasing day by day. This is also the basis for Binh Duong to firmly believe in the economic outlook in 2022 and the expectation of a strong increase in FDI inflows in the coming time..

Although attracting FDI has achieved remarkable results, Binh Duong is still determined to set higher goals in 2022. In the photo: Production activities at Bonfiglioli Vietnam Company, My Phuoc 3 Industrial Park. Photo: SPRING EXAM

New capital flows continue to increase

According to Mr. Andrew Michael Lien, Director of Wanek Co., Ltd., in 2021, the company has faced many difficulties in production due to the epidemic. However, the company still has faith and decided to stick with Binh Duong for a long time, as well as continue to expand investment. “We highly appreciate Binh Duong’s efforts in disease prevention and control, and at the same time thank the provincial leaders for always creating the best conditions for businesses to feel secure in production and long-term business in the locality. side”, said Mr. Andrew Michael Lien.

Not only Wanek Co., Ltd but many other FDI enterprises also believe in the prospect of overcoming all difficulties caused by the epidemic and the economic development of Binh Duong in the coming time. Jean-Jacques Bouflet, Vice President of the European Business Association in Binh Duong (EuroCham), said that although the Covid-19 epidemic has had a heavy impact on Binh Duong, currently, most European businesses in the region Both sides are back to work. “Binh Duong is one of the leading localities in flexibly adapting and timely controlling Covid-19 to recover the economy, continuing to build the image of a safe investment location for investors in it. there is Europe. Currently, Binh Duong is one of the three most important localities in cooperation with EuroCham in Vietnam”, said Mr. Jean-Jacques Bouflet.

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Despite facing many difficulties due to the Covid-19 epidemic, according to the Department of Planning and Investment, in 2021, the province’s FDI attraction situation maintains positive results, with nearly 2.7 billion USD, exceeding 36 % over the same period. Up to now, the province has 4,026 FDI projects with a total registered capital of 37.74 billion USD. Notably, 2021 is also the year with many large-scale projects, such as the project of manufacturing radio and screen products by New Motion Industry Co., Ltd. (Singapore) in Phu Quoc Industrial Park (IZ). Tan (Thu Dau Mot City), with an investment capital of 185 million USD; Procter & Gamble Indochina Co., Ltd.’s razor factory project in Dong An Industrial Park with an additional registered investment capital of 44.8 million USD, the total investment capital after the increase is 247.8 million US dollars; Paper factory project of Cheng Loong Binh Duong Paper Co., Ltd in Protrade International Industrial Park with registered investment capital increased by 100 million USD, total investment capital after increase is 1.1 billion USD America; Polytex Far Eastern (Vietnam) Co., Ltd.’s synthetic fiber production project in Bau Bang Industrial Park with an additional registered investment capital of 610 million USD, the total investment capital after the increase is 1.37 billion USD. In the last days of 2021, LEGO Group decided to invest 1 billion USD to build a new 44-hectare factory in Binh Duong, expected to come into operation in 2024.

According to Mr. Mai Ba Truoc, Director of the Department of Planning and Investment, up to now, the FDI sector has made a great contribution to state budget revenue and actively contributed to technology transfer, job creation as well as skill training for local people. workers in the province. In 2021, amidst many difficulties due to the impact of the epidemic, many foreign investors still see Binh Duong as a “good land” for long-term development.

 

Prospects

Although attracting FDI has achieved remarkable results, Binh Duong is still determined to set higher goals. The year 2022 is forecasted to be favorable for attracting FDI inflows into the province. The province is focusing on supporting businesses, taking the improvement of the investment and business environment as a space for development, in order to gradually recover and regain the momentum of economic growth, determined to complete the set goals for the country. whole year. Binh Duong is completing a new city – the political, economic and cultural center of the province, becoming an ideal destination for investors to work and live. In addition, the province is also making efforts to improve infrastructure, develop industrial zones, and enhance connectivity in the Southern Key Economic Zone.

The announcement that LEGO Group (Denmark) will invest more than 1 billion USD to build a factory in the province has marked a strategic shift in Asia in general, also the trend of 2022 in terms of Foreign investment. Mr. Gabor Fluit, Asia General Director of De Heus Group (Netherlands), commented, Binh Duong will continue to become a dynamic, innovative, convenient, safe and new investment destination. attractive new investment opportunities for foreign investors. Recently, at a meeting between provincial leaders and the American Chamber of Commerce in Vietnam (Amcham Vietnam), Mr. Chad Ovel, Chairman of AmCham Vietnam in Ho Chi Minh City, said: know that Amcharm will establish an AmCham center in Binh Duong in the near future, this is AmCham’s 4th center after Hanoi, Ho Chi Minh City and Da Nang.

Mr. Mai Hung Dung, Standing Provincial Party Committee, Standing Vice Chairman of Provincial People’s Committee, said that foreign investors determined, Binh Duong is still a safe and attractive destination. The recent addition of a number of large-scale projects, applying high technology, in important fields such as energy, processing and manufacturing industries is a testament to Binh Duong’s stability and reputation in the world. activities to attract FDI. Multinational corporations with strengths in capital and technology will help domestic enterprises access, receive transfers, cooperate and participate more deeply in the global value chain. This is an important destination for the rapid and sustainable development of the province.

Mr. Mai Hung Dung, Standing Provincial Party Committee, Standing Vice Chairman of Provincial People’s Committee: “Binh Duong is focusing on preparing well the conditions, satisfying the needs of investors in order to enhance cooperation efficiency, exploit the time. opportunities from the 4th industrial revolution to actively welcome new capital flows. Attracting FDI is a consistent and long-term policy of Binh Duong, in which increasing capital requirements and improving the quality of projects are always parallel goals.

Source : Bao Binh Duong