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Thegovernment monetary policy to curb inflation and the global economic crisishave significantly affected investment attraction in 2011. However, over thelast year, Binh Dinh Investment Promotion Centre (IPC) under the Department ofPlanning and Investment has actively run various activities and contributed tothe socio-economic growth of the locality. Picture: Quy Nhon sea - theprovince’s advantage in attracting investment.

Regardingto the investment promotion activities, in 2011, IPC collaborated with otherdepartments and sectors and provided consultancy for the People’s Committee (PC)to organize and participate in many important investment promotion events suchas the Early Spring Meeting between the provincial leaders with Binh Dinhentrepreneurs in Ho Chi Minh city; Forestry Products Festival in Quy Nhon; ‘PCI and solutions toimprove provincial competitiveness capacity in 2011’ conference; conference tointroduce Binh Dinh tourism potentials to travel enterprises in Ho Chi Minh;Investment Promotion Conference and the International Trade Fair 2011 in PhuYen Province; Tourism promotion conference ‘Four Nations-One Destination”organized by the Ministry of Culture, Sports and Tourism and the NationalAdministration of Tourism in Ho Chi Minh; the international conference oneconomic cooperation between Vietnam, Laos and Thailand …

Inaddition,IPC has sent brochures with lots of information on Binh Dinh to investmentpromotion conferences and meetings inside and outside the locality; a disc withan overview of Binh Dinh potentials and advantages in luring investmentdeveloped; a booklet on investment into Binh Dinh also published. In addition,IPC has worked with Investment Newspaper, VTV4 Channel… to develop coverageabout Binh Dinh; regularly updated news on investment promotion and cooperationin Vietnamese and English on website www.binhdinhinvest.gov.vn.

Regardingto attracting and improving the investment effectiveness, IPC has recommendedto the PC to issue the Decision No.12/2011/QĐ-UB dated 02/6/2011 regulating thecooperating mechanism to solve administrative procedures of constructionoutside the industrial and economic zones in Binh Dinh; the Decision No.471/QĐ-UBND dated 21/9/2011regulating investment commitment fund for projects outside the industrial and economiczones.

In 2011, Binh Dinh attracted 10 foreign invested projects with totalregistered capital of USD 66.8 million, of which 07 belong to industry and 03belong to trade-service. The total disbursed capital has achieved around USD 12million this year. At present, Binh Dinh has 45 FDI projects with total capitalof USD 689.36 million, of which 35 projects are 100% foreign capital and 10 arejoint ventures. Investors are from countries of USA, Japan, Korea, UK, Germany,Australia, Singapore, Malaysia, HongKong, Thailand, France.

Overall,the effectiveness of FDI projects in Binh Dinh is still limited. Theircontribution to Binh Dinh socio-economic growth is not significant due to lackof large-scale projects with high technology. Most of these projects are ofindustry sector such as husbandary, wood chips, mechanic, garment.... However,Binh Dinh always considers foreign direct investment an important part of theeconomic structure because of its capital size and management experience.

In 2012, IPC will take part in investmentpromotion activities organized by Ministries at home and overseas. Biginvestors, especially those who used to come to Binh Dinh will be priority andthe provincial sea potentials a focus of the promotion program. More supportwill be given to investors running the existing projects and theregistered projects will be more closely reviewed to provide a better environment foreligible investors.