Binh Duong commits support to Japanese firms
Secretary of the Party Committee of Binh Duong province Nguyen Van Loi has pledged all the best conditions possible to foreign investors so they can undertake long-term business effectively in the southern locality.
During a local dialogue with Japanese firms on October 20, Loi asked the provincial People’s Committee to remove obstacles and take steps to improve the business environment and further accelerate administrative reforms.
He wished that the Japanese enterprises would foster a spirit of mutually beneficial cooperation, partnering with Binh Duong to adopt new management models for green business, green technology and sustainable development. Additionally, there should be an emphasis on enhancing digital transformation to improve productivity.
Binh Duong prioritises attracting investment to eco-friendly technology sectors that use less labour and create high added value. These include financial services, logistics, support industries, high-tech agriculture, and particularly the Science and Technology Industrial Park. The province wants diversified foreign investment sources from various markets and potential partners, with a particular focus on leading developed countries and multinational corporations that possess advanced technology and modern management practices.
The Japanese companies raised issues related to their difficulties in labour permits, customs procedures, new investment in firefighting, traffic congestion caused by cargo trucks, environmental fees, and infrastructure maintenance in industrial parks.
Japan now ranks second among 65 countries and territories investing in Binh Duong, with a total of 351 projects worth nearly US$6 billion. Taiwan (China) took the top spot with 876 projects valued at US$6.3 billion. Singapore held the third position with 289 projects and US$5.4 billion.
As of October 15, Binh Duong attracted a total of 4,185 projects from 65 countries and territories with a total registered capital of over US$40 billion. It now ranks second nationwide in terms of FDI attraction, behind Ho Chi Minh City.
