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Early December 9, provincial People's Committee in collaboration with the European Chamber of Commerce in Vietnam (Eurocham Vietnam), WTC Binh Duong One-Member Co.Ltd. held the 2021 Binh Duong investment promotion conference. The event was attended by Mai Hung Dung, member of provincial Party Standing Committee, Permanent Vice-Chairman of provincial People's Committee; Alain Cany, President of Eurocham Vietnam; leaders of departments, sectors, representatives of Becamex IDC and a number of European enterprises in the province.

Welcoming high-quality capital inflows

Speaking at the conference, Mr. Dung said that in 2021, despite facing many difficulties, due to the Covid-19 pandemic, the province’s index of industrial production (IIP) was estimated at increasing by 4. 5% compared to 2020. As of November 15, 2021, the province attracted 64 new projects, 24 capital increasing projects and 161 projects for capital contribution and share purchases with a total registered capital of more than US$2 billion. The whole province has so far lured 4,011 investment projects from 65 countries and territories with a total registered capital of US$ 37 billion.

An overview of the conference in Binh Duong

According to Mr. Alain Cany, President of EuroCham, Binh Duong is among top three localities in cooperation with EuroCham. This conference was a precious opportunity for the province to find solutions to recover production, strengthen cooperation capacity and develop the local economy.

Vo Son Dien, Director of Becamex IDC’s Marketing Department said that Binh Duong is one of Vietnam’s first localities with smart city construction. The province has given priority to attracting investment projects from the world's leading potential partners with modern management, including European partners, in high-tech industries, especially in the local science and technology industrial park.

Safe destination

At the conference, leaders of provincial Department of Industry and Trade, Department of Planning and Investment, Department of Science and Technology and representatives of European enterprises in the province had a dialogue with enterprises on orientations to attract investment in the local tech-high industries. In the coming time, Binh Duong will give priorty to attracting investment in high-tech, environment-friendly, less labor-intensive industries, creating high added values...

Nguyen Thanh Toan, Director of provincial Department of Industry and Trade said that in order to attract quality capital flows as planned, Binh Duong is actively reforming administrative procedures; stepping up the progress of construction of key projects with regional development conectivity; speeding up site clearance for industrial parks to create ground for investors.

Speaking at the conference, Mr. Dung, affirmed that Binh Duong has implemented "safe, flexible adaptation to, effective control of the Covid-19 pandemic", focusing on making good use of opportunities to promote recovery and development. On behalf of provincial leaders, Mr. Dung invited European investors, enterprises and businessmen to further come to Binh Duong to learn about investment cooperation opportunities. The province will always accompany, support and create the most favorable conditions for foreign investors, including European partners.

LEGO Group invests US$ 1 billion in a factory in Binh Duong

On the afternoon of December 8, LEGO Group signed a Memorandum of Understanding (MoU) with Vietnam-Singapore Industrial Park J.V. Co.,Ltd (VSIP) to build a new factory in Binh Duong under the witness of Pernament Deputy PM Pham Binh Minh. Attending the signing ceremony were Nguyen Van Loi, member of the Party Central Committee, Secretary of provincial Party Committee, Head of provincial National Assembly Deputy Delegation; Vo Van Minh, Vice-Secretary of provincial Party Committee, Chairman of provincial People's Committee; Nguyen Van Hung, CEO of Becamex IDC. The project has a total investment of more than US$1 billion and is expected to be deployed in the second half of 2022 and start operation in 2024, contributing to creating 4,000 jobs for laborers.

*Gabor Fluit, General Director of DE HEUS Asia: Investing in Binh Duong since 2008, we have understood very well the dynamism and creativity of provincial leaders and the support of the departments and sectors for enterprises. In the coming time, we will continue expanding production in Binh Duong.

*Alexander Christopher Falter, General Director of Ecco Vietnam: Despite obstacles from the pandemic, Binh Duong has still strongly lured FDI capital inflows. Binh Duong's export turnover to Europe is still increasing strongly. Province-based factories have restored production with the capacity of over 90%...Therefore, European enterprises are optimistic with flexible adaptation and timely control of Covid-19 for the province's economy to further develop.

Reported by Ngoc Thanh-Translated by Kim Tin