Binh Duong: The attractiveness of the investment environment

27.02.2014

According to the report of Binh Duong Provincial People’s Committee in the first 02 months of 2014, the socio-economic situation of Binh Duong province has made many prosperous changes, a number of socio-economic development indicators increased higher than the same period of 2013. Particularly, the activities of attracting domestic and foreign investment were relatively satisfactory.

In 2014, Binh Duong province will prioritize to attract investment in six sectors including Electricity – Electronics, Supporting Industries, Precision Engineering; Basic Industrialization (for pharmaceutical manufacturing industry); Medical Devices and Food Processing. However, the province will continue to consider scales, technologies, industries and development areas appropriate for the layout orientation of production and business lines. At the same time, the province encourages to apply technologies to save raw materials, fuels and energy in production; increase the localization rate, improve the value of quality and competitiveness of products and limit labor intensive, etc… According to the report, no less than 02 months of early 2014, from Jan 1st to Feb 20th, the province has attracted about 258 domestic investment projects with a total capital of VND 927 billion, increasing 23% over the same period of the previous year and 40 foreign investment projects (FDI) with a total registered capital of US$ 720.4 million, increasing 206% over the same period of the previous year. The newly registered projects were primarily aimed at the processing and manufacturing sectors and some of them were involved in the service sector. The projects with large investment capital include the project of Saigon Wonderful Electrics Ltd., Co., supplementing for capital of US$ 210 million; the project of Vietnam Kimberly Clark Ltd., Co., supplementing for capital of US$ 113 million; the project of Vietnam KuyngBang Company with a capital of US$ 54 million; the project of Nexgard Ltd., Co., with a capital of US$ 50 million, etc…

To create a favorable, safe and reliable environment for investors, Binh Duong province’s priorities are to invest in completing its technical infrastructure, reforming administrative procedures, and especially in constant companion with businesses to promptly remove obstacles and difficulties in investment in their production and business activities. To proceed implementation of these aforesaid preferred solutions, Binh Duong province has announced the key projects commenced and completed in 2014. Accordingly, transportation projects include Pham Ngoc Thach Road Works with a total capital of VND1,917 billion, My Phuoc Tan Van Road Works with a total capital of VND 1,794 billion and completion of upgrading and expanding Road 7A, Ben Cat District with a total capital of VND 828 billion. The investment projects in service sector are bus rapid transit system of Becamex Tokyu Company; Aeon Shopping Center, construction of Tan Van Logistic Centre and Port Complex associated with border customs department and completion of An Son Warehouse and Port and Thanh Phuoc Port. To make a big breakthrough in its administrative reform toward transparent, rapid and modern administration, satisfying the needs of administrative transactions of businesses and local people, Binh Duong province has put open administrative areas in its centralized administrative center into operation.

In 2014, despite facing the volatility of the world and regional situation, the recovery of the global economy together with the government’s solutions are expected to bring a positive impact on Vietnam economy. And with its own advantages, Binh Duong has created attractive investment environment, in which the important thing is the performance of the production and business activities of investors getting stable and continuous growth, contributing to the stability of the local economy.

Source: btv.org.vn

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