Binh Dinh Invest

Binh Dinh attracts more than VND 33,000 billion in the first nine months of 2022

10/10/2022

Over the first nine months of 2022, the whole province has attracted 59 new domestic projects with total value of VND 14,226.25 billion and amended increased investment value of 14 projects, with a total increase of VND 19,419.32 billion.

Binh Dinh delegation meets with the Industrial Park Management Authority of Gyeonggi Regional Headquarters on the morning of 29/9/2022 in Korea

Accordingly, of the newly granted projects, 18 projects make investment outside the Economic Zone (EZ) and Industrial Parks (IPs) with total value of VND 11,253.65 billion, 17 projects in the EZ and IPs with total value of VND 2,406.88 billion and 24 projects in industrial clusters (ICs), which includes: Tuong Son IC of Hoai Nhon town; Ray Ong Tho IC, Hoc Bom IC and Tay Xuan IC of Tay Son district; Go Bui IC, Go Cay IC, and Go Cay Duoi IC of An Lao district; Tan Duc IC, Nhon Tan IC 1 of An Nhon Town, Phuoc An IC of Tuy Phuoc district; Ta Suc IC of Vinh Thanh district with total investment of VND 565.72 billion.

Some major projects that can be named consist of: FPT Software Research, Production and Training Centre of FPT Software Co., Ltd with registered capital of VND 2,000 billion, Thien Tam High-class Furniture Factory Project of Thien Tam High-class Furniture Joint Stock Company with value of VND 250 billion, the wood sawing and drying factory of AVP Quang Trung Co., Ltd. of VND 165.56 billion, Nguyet Anh Wood Pellet Factory project of Nguyet Anh Joint Stock Company of VND 115 billion.

Regarding attracting foreign investment capital, since the beginning of the year, there have been 3 cases of capital increase, with 2 projects in the EZ and IPs and 1 project outside the EZ and IPs with and increased value of USD 6.85 million. Currently, the province has 86 FDI projects with total registered capital of USD 1.1 billion, including 38 projects in the EZ and IPs with total value of USD 854.8 million and 48 projects outside the EZ and IPs with a value of USD 245.6 million.

Regarding business development, the Provincial People's Committee has directed the implementation of tasks and solutions to improve the business and investment environment and create favorable conditions for businesses and Resolution No. 02/NQ-CP dated January 10, 2022 of the Government on the main tasks and solutions to improve the business environment and enhance national competitiveness in 2022. Since the beginning of the year until now, there have been 973 newly established enterprises with registered capital of VND 8,515 billion. Compared to the same period last year, there is an increase of 35.7% in the number of enterprises and 7.5% in registered capital. 475 branches/representative offices/business locations have been granted establishment certificates.

In September, Binh Dinh province sent an investment promotion delegation led by Mr. Le Kim Toan - Standing Deputy Secretary of the Provincial Party Committee, Head of the provincial National Assembly Delegation's delegation to Korea from October 25, 2022 to September 30, 2022. The delegation was accompanied by Mr. Nguyen Tuan Thanh - Member of Standing Committee of Provincial Party Committee, Standing Vice Chairman of Provincial People's Committee, leaders of Department of Planning and Investment, Department of Industry and Trade, Economic Zone Authority, Office of Provincial People's Committee, Central Investment Promotion Center, Becamex Binh Dinh Joint Stock Company.

At the meetings, the provincial delegation briefed on potentials, favorable conditions, investment opportunities and policies to encourage investment in the province, also on Becamex VSIP Binh Dinh. The partners are committed to acting as a bridge connecting Binh Dinh province to Korean investors.

In order to enhance investment attraction, especially foreign direct investment, the Department of Planning and Investment has recently proposed the Provincial People's Committee solutions to carry out key investment promotion activities in the last months of 2022, specifically:

Firstly, focus on reviewing the implementation of projects granted investment approvals, investment registration certificates, including bidding and auction projects. Thereby, solutions shall be provided to support projects in difficulties and terminate projects that are unable to be implemented.

Secondly, investor selection is organized for eligible projects. Localities shall be assigned to organize investor selection, especially auction projects.

Thirdly, plans shall be proposed to select investors of technical infrastructure of industrial clusters, accordingly the nature and objectives of the industrial clusters are evaluated based on the industries expected to attract investment, the development orientation of the industries and the prioritized fields in the province, the socio-economic development orientations, the regional planning and specialized planning in the province.

Fourthly, more investment promotion activities shall be carried out in important markets such as the investment promotion conference with German enterprises in Binh Dinh (November 2022) and the investment promotion delegation in Germany (December 2022)