With more than USD 3 billion in foreign investment (FDI), Binh Duong becomes a bright spot in terms of FDI attraction in 2022. The highlight is the high-quality FDI inflows of the world's leading investors choosing Binh Duong as a production base. The belief of the business community about opportunities and potentials is increasing day by day.
Tetra Pak Binh Duong has received many certifications for its safety, quality and sustainability practices in production
Expecting green capital inflow
In 2022, surpassing Taiwan, Japan, Singapore, Korea and many other countries, Denmark became the largest investor in Binh Duong. In the first 3 months of 2023, the Netherlands took the lead in FDI inflows in the province. Obviously, this is a signal that high-quality FDI inflows from Europe are increasingly flowing into Binh Duong and more prospects would be in the near future.
Although the total FDI into Binh Duong is still not much, the total newly registered, adjusted and contributed capital to buy shares across the province in the first quarter of 2023 reached USD 437.7 million, equaling to 120% of the total in the same period in 2022. In particular, one of the positive indicators is that among 15 countries and territories investing in the province in the first 3 months of 2023, the Netherlands is the largest investor with over USD 324 million, accounting for 72.4% of total registered capital.
Notably, Binh Duong has gradually been moving to attract high-quality investment capital. Notably, many European investors including Denmark are choosing Binh Duong as a production base. In 2022, among countries and territories investing in Binh Duong, Denmark led the way with a large-scale Lego project with a total investment of over USD 1.3 billion, accounting for 42.8% total investment capital in the province. Lego's green project is expected to open a new chapter in Binh Duong's FDI attraction as well as the beginning of a wave of greener and better quality investment by European businesses in the province.
Not only investors from Europe but most investors from many other countries believe in the prospect of overcoming all difficulties, challenges and economic development of Binh Duong province in the future. At the recent meeting with provincial leaders, Bonnet Huor - Deputy Director of the Division of Economic Development under the Office of the Mayor of Laval city in Quebec of Canada expressed his impression of the achievements as well as the strategy and determination for comprehensive development direction of Binh Duong.
Bonnet Huor said that Laval is a city in the province of Quebec and located in the southwest of the province and north of Montreal which is the largest suburb of Montreal and the 3rd largest city in the locality and the 13th largest city in Canada with a population of more than 440,000. Canadian businesses highly appreciate the potential and investment environment of the province and look forward to having the opportunity to learn more deeply to promote investment, long-term and sustainable cooperation in Binh Duong.
Development associated with environmental protection
Trinh Hoang Tuan Anh - Deputy Director of the Department of Planning and Investment, said that "greening" production is a global trend that businesses must implement to achieve sustainable development goals. Economic shifting towards circular, green, and low carbon economy is an inevitable trend as many businesses in Binh Duong are also aiming for environmental responsibility by implementing the goal of converting green energy in production to minimize greenhouse gas emissions towards sustainable production on the basis of strong application of science and technology, innovation and increased labor productivity.
Recently, Tetra Pak Binh Duong's beverage box factory has received the AA+ BRCGS certification for quality management from the British Retail Association and is the first factory to gain such rating in Vietnam. BRCGS is a quality management system introduced by the British Retail Consortium in 1996 to protect consumers with the standard containing criteria for food safety, quality and procedures that manufacturers need to follow.
According to Eliseo Barcas, General Director of Tetra Pak Vietnam, the AA+ BRCGS certification affirms the strict compliance and consistent quality in the production process of sterilized paper boxes of Tetra Pak Binh Duong factory. By applying the LEED standard, the plant saves 2 million liters of water, reuses and recycles 90% of its waste, and reduces emissions of 4,000 tons of CO2 into the environment each year. The company aims to completely eliminate greenhouse gases from its entire operation by 2030. Tetra Pak has invested an additional €5 million in the plant with the goal of increasing annual production from 11.5 billion to 16.5 billion shells and install 2,300 solar panels.
Binh Duong is accelerating the implementation of the tasks set out in the 2020-2025 term of rapid and sustainable economic development on the basis of strong application of science and technology, innovation and increased labor productivity. The province continues to develop a provincial plan for the period of 2021-2030 with a vision to 2050 for the goal of economic development in harmony with environmental protection, focusing on social security. In which, improving the quality of growth, rapidly developing economic sectors with high added value, development of digital economy, circular economy, sharing and green economy.
Reported by Ngoc Thanh – Translated by Vi Bao
