The projects span critical sectors, including high-tech industries, commercial services, tourism, urban economy, port services and logistics. Of the total figure, 16 projects received investment policy approvals and investment certificates with registered capital of more than VND17 trillion.

Meanwhile, memoranda of understanding on investment cooperation were presented to 42 projects, with domestic investment totalling over VND75 trillion and foreign investment exceeding US$1.1 billion.

Speaking at the event, Deputy Prime Minister Nguyen Chi Dung highlighted the province’s strategic location as well as its competitive advantages to boost socio-economic development. With a sound investment climate, Binh Dinh has become an attractive destination for investors, positioning itself as one of the most dynamic economic hubs in the country, and a leading development province in the region.

Dung suggested the province focus on three traditional growth motives, namely enhanced investment, export promotion, and consumer spending stimulation, urging Binh Dinh to develop a more transparent, attractive and competitive investment environment.

It is necessary to handle businesses’ challenges in a timely manner while mobilising and effectively utilising resources for harmonious infrastructure development, he said, underscoring the need to train high-quality human resources in tandem with securing investments in science – technology, innovation, and digital transformation, as well as leveraging digital and green economic models.

He went on to say that Binh Dinh should capitalise on its geographical advantages for tourism development, transforming its tourism potential into reality by diversifying products such as sea and island tourism, cultural and historical experiences, and international resort destinations.

Most significantly, the Deputy PM proposed Binh Dinh expeditiously study the establishment of a free trade zone at Phu My port. He noted that Vietnam currently lacks such a facility, with other locations like Hai Phong, Da Nang, and Ba Ria-Vung Tau still in the research phase.

According to Chairman of the provincial People’s Committee Pham Anh Tuan, since 2021, Binh Dinh has already attracted 370 new investment projects worth over VND200 trillion, including 19 FDI projects valued at VND6.4 trillion.

Over the recent past, the province has rolled out multiple incentives to lure investment, including administrative reform, establishment of a transparent and favourable investment environment, and investment in infrastructure development.

Tuan called on enterprises to pour investments in such domains as software production, big data centres, semiconductor components, AI, cybersecurity, and high-end tourism infrastructure.

Canada eyes investment in test kit factory in Binh Dinh

VOV.VN - Gene Bio Medical Company (GBM), a leading biotechnology company in British Columbia, Canada, plans to build a test kit factory in the south-central province of Binh Dinh with a total investment of between US$10 - 20 million.