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Binh Duong plans to be more attractive to foreign investors

Updated at Tuesday, 14 Nov 2017, 10:16
The Hanoitimes - The southern province of Binh Duong plans to issue a range of policies and incentives to attract investment in hi-tech industries and take advantage of the fourth industrial revolution.
Tran Thanh Liem, chairman of Binh Duong People’s Committee, said that the improvement will be taken in administrative procedures, and land and facility construction.
To create a better investment climate, the province’s leaders and authorities will also regularly meet with investors and businesses to help them resolve problems.
“Improving the infrastructure system and creating an open dialogue with foreign investors are the keys to attracting investment,” he said.
Binh Duong has made great strides in improving its water and power supply, road network, waste treatment facilities, and in providing available land for new projects.
 Improving the infrastructure system and creating an open dialogue with foreign investors are the keys to attracting investment to Binh Duong.
Improving the infrastructure system and creating an open dialogue with foreign investors are the keys to attracting investment to Binh Duong.
The province has invested a great deal in road infrastructure, facilitating connections with HCM City, the Mekong Delta and the Central Highlands region, among others.
Major transport routes, including Binh Duong Boulevard and My Phuoc-Tan Van Highway, connect local Industrial Parks (IPs) with seaports and airports in the southern region.
The province is also the leading province in the country in IPs, new urban areas and services. In addition to the existing IPs, the province plans to open new industrial zones to attract more foreign investment.
Binh Duong Province is the country’s second-highest FDI recipient, following Ho Chi Minh City.
Nguyen Thanh Truc, director of Binh Duong Province’s Department of Planning and Investment Department, said that total FDI investment reached almost $1.97 billion in the first nine months, up 27 per cent over the same period last year.
Today, the province is giving priority to FDI projects with high technology and large-scale urban and service development projects.
Binh Duong is now home to a total of nearly 3,000 FDI projects from 60 countries and territories, worth more than $27.7 billion.
Vu Ngoc Khiem, chief representative of Global Sources, a Hong-Kong based B2B media, said many FDI firms, especially those from Taiwan (China), had been expanding and shifting their production to Vietnam, especially Binh Duong, which is home to manufacturers of garments, textiles, furniture, shoes and hardware.
Leading Taiwanese-owned firms, including furniture maker Kingtec, window blinds manufacturer Global View, and garment and fabric makers Huge Bamboo and Motong were among those with high potential, he said.
The key factors that investors consider are technologies, infrastructure and highly skilled human resources, he said, adding that a shortage of skilled staff is one of the challenges facing FDI firms as many of them have moved to Ho Chi Minh City to earn better salaries.
Anh Hong
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