At present, Binh Dinh has been implementing many programs and solutions to boost investment attraction, expected to be a driving force to make a breakthrough in the socio-economic development. Overcoming difficulties caused by global economic recession, many investors are now eyeing Binh Dinh.
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Provincial leaders work with Thailand investors on opportunities in Nhon Hoi EZ
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Looking back 2010
Binh Dinh hosted the investment promotion conference in Jan. last year. In addition, it also joined the central key economic region forum in Quang Ngai, the second rural industrial goods fair in Vung Tau, the investment-trade promotion conference for the central-Central Highlands regions in Hue, and other workshops.
The relevant bodies were also asked to upgrade the infrastructure of industrial zones and Nhon Hoi EZ, aiming to meet the investors’ demands. Binh Dinh People’s Committee promulgated the regulations on procedures for investment, assigning specific responsibilities for relevant bodies and shortening administrative formalities.
Last year saw 6 FDI projects licensed to be invested in Binh Dinh with the total registered capital of US$150.042 million, a surge of 96.52 percent against 2009. Among them, 2 projects were invested in Nhon Hoi EZ and other industrial zones.
Also, 35 domestic projects were licensed in 2010 with the total capital of nearly VND10 trillion, let alone 23 projects approved in principle.
So far, Binh Dinh has attracted 40 FID projects worth US$621.475 million, 7 joint-venture projects and 200 domestic ones.
For the future
Despite all-out effort in attracting investment, the province’s effort still fell short of expectations. Binh Dinh has seen no large-scale or hi-tech projects which are able to promote the province’s development. Most licensed projects are small-scale ones.
The causes of these shortcomings are the inefficient planning, slow progress of administration reform. Also, it’s the province’s geographical location that partly affects the investment attraction.
Binh Dinh People’s Committee will focus on propagating the province’s potential, favourable conditions, and investment incentive policies in 2011 when the five-year socio-economic development plan is carried out. The Nhon Hoi EZ will be given special concern in this year.
Binh Dinh is expected to join at least 4 domestic investment promotion activities and 2 events abroad this year. Alongside these, the province will host the first Vietnam forest product festival, which will offer favorable conditions for the province’s investment attraction.
What’s more, Binh Dinh will continue strengthening its cooperation with other provinces, calling for more domestic and foreign investors to seek investment opportunities in the province. The local authorities will pay more attention to infrastructure, land clearance, aiming to attract businesses.
Binh Dinh is expected to see 8 industrial zones by 2020, including Phu Tai, Hoa Hoi, Long My, Nhon Hoa, Cat Trinh, Bong Son, Binh Long, and Van Canh with the total area of 32,000 hectares.
The province’s leaders held a meeting with entrepreneurs in HCM City on Feb. 12. Provincial Chairman Le Huu Loc promised to create the most favourable conditions for investors. Also, the province will monitor and resolve difficulties to help all businesses to feel secure when seeking investment opportunities in Binh Dinh.
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