Binh Dinh province’s investment promotion mission to Japan

In 2018, Binh Dinh continued to call for investment in many fields, receiving a lot of domestic and foreign partners who came to explore investment opportunities in Binh Dinh such as: Marshal Investment Fund (Singapore), Fujiwara Co., Ltd. (Japan), The Green Solutions Co., Ltd., Korea - Asia Friendship Fund, TMA Solutions, FPT Group, Marriott International Group (USA) and Anphanam, Intercontinental Group (UK), FGD Recycling Industry Co.Ltd (Taiwan), Gia Phu Group (Singapore), Yongsan Business Group - Korea, BR Group Corporation (Czech Republic)...

In the context of increasing free trade, the investment promotion in foreign countries has been given a priority and Binh Dinh has frequently organized investment promotion missions to markets such as Korea, Japan, USA, Germany, etc. Also, support was granted for the provincial firms to penetrate and expand markets in those countries to establish commodity distribution channels.

In recent years, Binh Dinh has become a bright destination for domestic and foreign investors thanks to transparent and attractive investment policies. The provincial leaders regularly pay attention to, accompany with enterprises and investors to solve arising difficulties and problems. The local government also made efforts in constructing infrastructure in the economic zone, industrial parks and clusters; issuing advantageous investment policies and mechanisms, which made businesses feel confident to invest in production development. In 2018, tourism and industry continued to be two key sectors to increase the province's investment attraction with high capital value.

In 2018, the province attracted 62 projects of domestic investors with total capital of VND 20,483.21 billion. Of which, 20 projects registered to invest in economic zone (EZ) and industrial parks (IPs) with total capital of VND 5,483.09 billion. By location, with 29 new projects, Quy Nhon continued to be the leading area in attracting investment; An Nhon 11 projects, Phu Cat 7 projects were the next 2 favorite areas of investors. Meanwhile, An Lao, Hoai An and Vinh Thanh were less attractive places to investors, even not attracting any projects (Hoai An and Vinh Thanh district).

Some typical projects granted investment approvals by the provincial People's Committee include: TMA Creative Park of Tuong Minh Software Solutions Co., Ltd. in Quy Hoa and Ghenh Rang Science and Education Urban Area, Quy Nhon city with total capital of VND 154,2 billion; Binh Dinh Maritime Apartment Project of Binh Dinh Maritime Joint Stock Company in Quy Nhon with total capital of VND 374,919 billion; the residential area project in Nhon Tho commune invested by An Phat Land Investment Company Limited in An Nhon town with total capital of VND 705,09 billion; Ba Hoa Mountain Resort and Eco-Villa project of Ba Ho Mountain Joint Stock Company in Ba Hoa Mountain Area, Quy Nhon city with total capital of VND 180 billion; Greenhill Village Quy Nhon Resort of Greenhill Village Company Limited in Ghenh Rang ward, Quy Nhon city with total capital of VND 230 billion...

In term of foreign direct investment (FDI), the province granted investment registration certificates for 08 projects with a total capital of USD 134.45 million. At present, the province has 78 FDI projects with total registered capital of US 791.44 million, including 30 projects in EZs and IPs with total capital of USD 289.77 million.

During the last year, the provincial People's Committee issued criteria for prequalification of investors for several important land areas, Petroleum station, the commercial service and car trading center in the Long Van - Long My Urban Area, Quy Nhon city… Accordingly, 3 investors have been selected for the projects.

Attracting investment has been a key solution for Binh Dinh province to improve the economic growth. In addition, solutions to improve the business environment are defined as the key tasks of all sectors in Binh Dinh province.

In 2019, the province continues to improve the investment environment, focusing on inviting eligible investors who are able to attract supportive projects. The supervision and monitoring of the existing projects’ implementation will be constantly performed to help solve any arising difficulties of the investors.

Based on the investigation of potentials and trends of investors, the local government will organize investment promotion missions to countries like Japan, Korea, Singapore, Germany, USA and Czech or send documents to the conferences organized by the ministries and central agencies to attract potential investors. Also, Binh Dinh actively collaborates with international organizations, especially Japanese International Cooperation Agency (JICA), Japanese Trade Promotion Organization (JETRO), Korean Trade Promotion Agency (KOTRA) ), European Chamber of Commerce in Vietnam (EuroCham) to connect, promote and invite domestic and foreign investment projects. Administrative procedures will be frequently reformed to lure investment in key sectors in order to create a breakthrough for the province's economic growth; thoroughly applying the incentive policies of the central government to increase the locality’s competitiveness.

 

In addition, the concerned agencies will endlessly review, adjust the planning and develop strategic plans for each area. The industrial space will be considered for expansion, infrastructure of industrial parks and clusters will gradually be completed. Investment in industries and projects with high technology and added value, using less labour and environmental friendliness will be attracted, with priority on electronics, manufacturing and processing.