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Leaders of IPC hold a meeting with representatives of WB’s int’l financial company on the programme for enhancing the competition ability. PhotoNguyenBay
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* Encouraging results
Binh Dinh province People’s Committee and functional bodies and agencies, including IPC, annually advertise the potential and investment opportunities in Binh Dinh by promoting the investment and joining in exhibitions in foreign countries.
The visits for the investment promotion to such countries as New Zealand, Japan, China, Hong Kong, Korea, and Singapore reaped positive results. Alongside this, the IPC also held many conferences for the investment promotion in Ho Chi Minh City, Ha Noi, and Binh Dinh with the participation of enterprise associations, the commercial chamber, and domestic and foreign businesses. The IPC’s website (www.binhdinhinvest.gov.vn) with English and Vietnamese versions is frequently updated the information about the investment in Binh Dinh and linked to other websites in Vietnam.
In the 1005-2000 period, there were only three foreign direct investment (FDI) projects in Binh Dinh with the total registered capital of US$20 mln; however, thanks to the investment promotion, Binh Dinh has attracted new 25 FDI projects since 2001 with the capital of $368 mln. With the domestic investment, Binh Dinh is one of provinces strongly attracting the investment from the private sector, which accounts for 75% of GDP, over 55% of the industrial production value, and 65 % of the gross export turnover.
The Nhon Hoi economic zone, with its own special advantages, has attracted 50 domestic and foreign businesses to invest in the fields of industry, service, and tourism with the total capital of more than $3 bln, in which nearly 10 projects have been started.
One of the most considerable achievements is that IPC partly contributed to introduce the image of Binh Dinh province to the world and improved investment incentive policies to make Binh Dinh more attractive in investors’ eyes.
* The target for 2010
To meet the aim at developing the economy in Binh Dinh, the investment promotion in the coming time is to focus on appealing to well known or highly reliable investors and actively supporting registered projects in the Nhon Hoi economic zone and other industrial zones. The responsibility regulations between administrative bodies and investors will be built to avoid using lands ineffectively, according to Mr. Nguyen Thanh Hai, IPC director.
In addition, projects using backward technologies and equipments and the personnel for the investment promotion and business administration are also of great concern.
To help the investment promotion become better, it’s necessary to set up a fund for the investment promotion so that the investment attraction can be actively carried out. On the other hand, IPC needs the cooperation of functional bodies and agencies in periodically providing the information about the social-economic situation in Binh Dinh and it also needs to be allowed to attend conferences on development plans to serve for the investment promotion.
