Binh Duong has been focusing on improving the investment environment, creating favorable conditions for businesses to develop production and business. In the photo: Made at Punch Industry Manufacturing Vietnam, My Phuoc 3 Industrial Park, Ben Cat Town. Photo: Thoai Phuong
The complicated Covid-19 epidemic affected many socio-economic aspects, including activities of attracting investment capital, especially foreign direct investment (FDI) into Binh Duong. In this situation, the requirement is to persevere the growth target, at the same time continue to accelerate administrative reform and improve the business environment so that Binh Duong continues to be an attractive destination for investors.
Affirm the advantage
Data from the Department of Planning and Investment (MPI) shows that the attraction of foreign investment in Binh Duong from the beginning of the year to March 15 was 293.5 million USD (equal to 54% of the same period). ). Up to now, the province has 3,816 foreign investment projects with a total registered capital of 34.6 billion US dollars.
Binh Duong is still among the top localities in attracting FDI. By the end of 2019, Binh Duong ranked second in the whole country (after Ho Chi Minh City) with 3,780 valid projects with a total capital of US $ 34.33 billion, accounting for 9.48% of the total foreign investment capital. country. The average project size is about 9.11 million US dollars. In which, investing in industrial zones (industrial zones) has 2,391 projects with total capital of 23.1 billion USD, accounting for 67% of foreign direct investment in the province. In particular, the province aims to attract US $ 7 billion of FDI in the period of 2016 - 2020. But by the end of 2019, Binh Duong has finished early when reaching over US $ 10.2 billion. Thus, Binh Duong surpasses both the investment capital attraction as well as the completion time one year before the set plan. With its efforts, Binh Duong has affirmed its attractive advantage in attracting FDI.
Currently, there are 65 countries and territories registering investment in Binh Duong. Japan is the leading country with 313 projects with a total registered capital of over US $ 5.61 billion, accounting for 16.3% of the total foreign direct investment in the province. New FDI attracting projects are still mainly in processing and manufacturing industries; The majority is invested in industrial zones with the purpose of building factories to produce goods for export and domestic consumption.
Thereby, the province has been attracting large projects, in line with the orientation of attracting investment and industrial development planning, developing a number of important economic sectors such as processing and processing industries. ... Besides, FDI enterprises contribute to helping Binh Duong integrate deeply into the international economic life, making a positive contribution to the socio-economic development of the province. According to Bui Minh Tri, Head of the Provincial Management Board of Industrial Zones, due to the impact of the Covid-19 epidemic, activities to explore investment opportunities of potential investors into Binh Duong are delayed. Consumer demand, especially for non-essential goods, will sharply decline, production will be delayed, and inventories will be large. New investors will hesitate to make investment decisions at this time. For already implemented projects, the increase in investment capital may be delayed.
Proactively implementing solutions
As one of the localities attracting large FDI of the country in consecutive years, up to now, Binh Duong continues to be the chosen destination of many international economic groups. This attraction stems from the fact that Binh Duong has started to improve its investment environment substantially; attaching importance to infrastructure development; improve the quality of human resources; accompanying and removing difficulties for investors ... Along with its own advantages, Binh Duong such as the strategy of "Carpeting to call for investors", has a convenient traffic location, quality. amount of human resources, land potential ...
Strictly complying with the Government's view, not because of epidemics, but stopping production and business. At the same time, contributing to help Vietnam become more and more attractive in the eyes of foreign investors, Binh Duong is continuing its efforts to find all solutions to overcome difficulties, create a reliable and effective investment environment in current context.
Accordingly, the Provincial People's Committee directs the Department of Planning and Investment to coordinate with relevant agencies to implement solutions to improve the business environment, attract domestic and foreign investment to make good use of development opportunities. , especially catching the opportunity to shift investment flows from other countries. Researching, innovating, improving marketing effectiveness, calling for investment and meetings to meet and dialogue with businesses, associations and investors. Mr. Tran Thanh Liem, Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee said that, before the strong fluctuations of the world economy as well as in the country, Binh Duong's economy still has optimistic signals. With the drastic determination in the direction and administration of the province, the efforts of the business community and the people, Binh Duong is well controlling the epidemic situation and simultaneously deploying economic growth solutions. More significantly, at the time of complicated complication of Covid-19 epidemic, Binh Duong was still a bright and successful spot in disease prevention and control ... Acknowledging these positive aspects. , foreign investors will pay attention to Binh Duong to seek investment and business opportunities. However, not so subjective, satisfied with the results achieved. FDI attraction activities still need to be tightened to meet the requirements of renewing the growth model, restructuring the economy and protecting the environment; improve productivity, efficiency, competitiveness of the economy ... Satisfied with the results achieved. FDI attraction activities still need to be tightened to meet the requirements of renewing the growth model, restructuring the economy and protecting the environment; improve productivity, efficiency, competitiveness of the economy ... Satisfied with the results achieved. FDI attraction activities still need to be tightened to meet the requirements of renewing the growth model, restructuring the economy and protecting the environment; improve productivity, efficiency, and competitiveness of the economy.
Mr. Kim Won Sik, Chairman of Korea Business Association in Binh Duong, said: “Enterprises appreciate Binh Duong's efforts and determination in improving the investment and business environment. Especially, the heads of the province are always innovative, creative and consistent views in the direction and administration. This is one of the important factors for FDI investors to come and stick with the province for a long time. In the coming time, Binh Duong needs to make good use of opportunities from free trade agreements to attract investors. Especially, in the context that the Covid-19 epidemic is having global impacts, Binh Duong increasingly has to prove to investors about the co-operation and support of them in the difficult situation by issuing policies to regulate timely adjustment of taxes, land, and labor.
Reported by Ngoc Thanh – Translated by Vi Bao
