The Covid-19 outbreak has affected most businesses in the province and has had a significant impact on the investment attraction. However, Binh Duong has persisted in its growth target, implemented many solutions of disease prevention and control and socio-economic recovery, continued to attract high-quality investment projects.
Despite the impact of the pandemic, many foreign investors identify Binh Duong as a good land for long-term development. In photo: Manufacture of Made at Orion Company.
Optimistic signs
Despite the complicated developments of the Covid-19, Binh Duong continues to be one of the top localities of the country in terms of FDI attraction. Over eight first months of 2021, the province has attracted nearly 1.5 billion USD, up 31% over the same period of 2020. Besides, many FDI companies are still recovering and sustaining production and business activities.
Facing difficulties caused by the pandemic, the province seeks to effectively take advantage of relationships with investment promotion contact points in foreign markets. Namely, leaders of departments, branches, provincial Industrial Parks' Management Board coordinated with Becamex IDC to regularly actively connect, work, and communicate with domestic and foreign organizations, corporation and individuals related to investment promotion.
Facing difficulties caused by the pandemic, the province seeks to effectively take advantage of relationships with investment promotion contact points in foreign markets. Specifically, leaders of departments, branches, Provincial Industrial Park Management Board coordinated with Becamex IDC Corporation to regularly actively connect, work, and communicate with domestic and foreign organizations, businesses and individuals. relevant to promote investment promotion
Mai Ba Truoc, Director of Department of Planning and Investment, said that as of August 15, total newly registered capital and increase of FDI capital was estimated at nearly $1.5 billion. (up 31% over the same period). Of which, there were 42 new investment projects ($476 million), 20 projects with capital increase ($793 million) and 78 projects with capital contribution ($224 million). Up to now, the province has 3,987 FDI projects with a total capital of $36.8 billion. There are many foreign investors that are paying attention to and wishing to invest in Binh Duong province.
To maintain the advantage
Although the Covid-19 pandemic is still raging, the recent good results of FDI inflows show optimistic signals. Besides, Binh Duong owns a comprehensive, diversified and modern infrastructure; administrative reform indexes (PAR Index), provincial competitiveness index (PCI) and many other indicators are increasingly improved, have been in the group of “very good". These are the advantages of the province in order to attract FDI in the coming time, especially when the province is trying to control the pandemic effectively.
According to foreign investors, due to the consistency of innovation method in investment attraction, with the advantage of modern industrial park infrastructure, Binh Duong has become the preferred destination of foreign investors. The recent decrease in FDI capital is also a common trend taking place in the whole country and in pandemic-hit countries.
Kim Won Sik, Chairman of Binh Duong Association of Korean Businesses (Kocham), said that in general, Korean investors are facing many difficulties. Sales and orders for export of many companies have decreased. However, Binh Duong has been a land of interest for Korean investors to expand production or make investment. Binh Duong has taken quick and effective response measures to prevent and stop the spread of the disease, keeping the province's economy stable. "We appreciate the efforts, determination of Binh Duong provincial leaders to improve the investment and business environment. We hope that the government will make efforts to effectively control the pandemic soon, strengthen its foundation and continue to promote its inner strength, continue to be an attractive investment destination," Kim Won Sik said.
Mai Ba Truoc added that in order to improve investment promotion work, provincial Department of Planning and Investment and related agencies are checking the land fund and making plans for attracting large projects; assign officers to urge, monitor and support investors to complete investment procedures and soon begin projects. The province also focuses on investment promotion in the new situation through online channels to meet and exchange with investors from other countries. This is considered as a salvation in this period.
Recently, the province has organized an investment promotion online conference with enterprises from many countries, such as Korea, Japan, China, Thailand, India, Italy, Australia... Amidst numerous difficulties, foreign investors found that Binh Duong was still a good land for long-term development.
Reported by Ngoc Thanh - Translated by Ngoc Huynh
