Binh Dinh Invest

Enhancing investment attraction from Korea

24/09/2022

Within the framework of the province's annual investment promotion program, on September 25-30, 2022, the Provincial People's Committee organizes an investment and trade promotion mission trip to Korea to promote potentials, investment opportunities and policies to encourage investment in the province, especially in Becamex VSIP Binh Dinh; also it is to create the image of Binh Dinh as an ideal destination for domestic and foreign investors, especially Korean investors.

Investment Promotion Conference for Binh Dinh Province in 2018 held in Korea

The specific industries in need of investment and business cooperation this time are in the field of manufacturing industry and supporting industries, processing industry, trade and service...

Over the years, the Provincial People's Committee has organized many seminars, investment promotion programs at home and abroad to introduce the image, potentials, and investment opportunities of the province, especially Becamex VSIP Binh Dinh Industrial, Urban and Service Complex, introduces policies to encourage investment, and favorable conditions when investing in the province. Currently, the technical infrastructure system of the province in general and in Becamex VSIP Binh Dinh are urgently completed and improved to create a foundation for the development of industrial projects.

The Central region of Vietnam and Binh Dinh are endowed with diverse potentials, but the are is not well known by many investors, especially foreign investors. Therefore, it is important to organize more programs to promote investment in Binh Dinh province and in Becamex VSIP Binh Dinh. That is expected to create a driving force to attract many important and effective projects for Binh Dinh province, quickly converts Becamex VSIP Binh Dinh into a dynamic industrial park, contributing to the rapid development of Becamex VSIP Binh Dinh, promote and create breakthroughs in socio-economic development of Binh Dinh province.

Over the past 3 years, Korea has always been in the top 3 countries with the highest amount of foreign direct investment (FDI) investing in Vietnam. In the first 6 months of 2022, Korea was ranked 2nd out of 84 countries and territories with projects invested in Vietnam with a value of USD 2.66 billion, accounting for nearly 19% of total capital, up 29.6 % compared to the same period last year. By number of projects, Korea is the largest partner with 112 new projects, accounting for 19.4%.

At present, the number of Korean investors investing in our province is still small and not commensurate with the potentials and strengths of the province. There are only 4 Korean enterprises investing in Binh Dinh with total capital of nearly 98 million USD, namely Sepplus Binh Dinh Export Garment Factory (USD 1.5 million), QNY Solar Power Plant (USS 70 million), Feed Mill of CJ Vina Agri Co., Ltd. Binh Dinh branch (USD 24.48 million), Cinema of CJ CGV Vietnam Co., Ltd - Quy Nhon branch (USD 1.73 million).

The last months of 2022 is expected to be the time the world economy shows signs of recovery after the pandemic, therefore our province needs to actively promote and attract investment for social-economic development in the following years.

This investment promotion program in Korea will be an opportunity for Korean investors and businesses to better understand the investment environment of Binh Dinh province and promote investigation and investment activities in the future. Binh Dinh is striving to become a dynamic, convenient and safe investment destination.