Binh Duong: Leaders of the southern province of Binh Duong, a magnet for foreign direct investment (FDI) in Vietnam, had a meeting with representatives from the German Business Association (GBA) in Vietnam on March 19 to seek ways to expand investment connectivity with nearly 400 German enterprises.

Germany currently has 18 investment projects worth 50.7 million USD in the southern province, accounting for only 0.4% of the total number of FDI projects, and 0.1% of the combined registered capital in the locality.

GBA Vietnam Chairman Alexander Ziehe said that the association has nearly 400 member businesses, and Binh Duong is one of the main locations for German investment projects in various industries, after Ho Chi Minh City and Hanoi.

He proposed Binh Duong prioritise addressing issues related to infrastructure, particularly in transport, improving waste management and rooftop solar systems, and bettering the provision of information about new policies by announcing changes at least three months in advan
ce, and publishing them on online and offline media in both Vietnamese and English.

Nguyen Loc Ha, Vice Chairman of the provincial People’s Committee, said that in the coming time, Binh Duong will continue to restructure the intra-provincial industrial network, upgrade existing industrial parks into smart ones, develop supporting industries to increase the localisation rate, and invest in building a regional transport system.

According to Ha, the province is prioritising the attraction of FDI in green transformation, with a focus on developing sustainable energy, green economy, and circular economy.

Binh Duong currently has 29 industrial parks and 12 industrial clusters, with more than 60,000 businesses that are employing more than 1.2 million workers. It ranks third in the country in terms of FDI attraction with 4,247 projects totalling 40.5 billion USD./.

Source: Vietnam News Agency