Chinese investors hope Binh Duong have better investment environment

Many Chinese investors operating in the southern province of Binh Duong have put forth proposals to the provincial People’s Committee regarding the minimum wage, the land fund for warehousing, and investment procedures at a recent online investment promotion workshop.

The workshop, jointly held by the provincial People’s Committee, Becamex IDC and the Chinese Consulate General in Ho Chi Minh City, brought together about 80 Chinese investors and representatives from relevant departments and agencies in Binh Duong.

It provided investors with insights into the investment environment in Vietnam in general and Binh Duong in particular, while helping connect Vietnamese and Chinese businesses amid the COVID-19 pandemic.

Binh Duong currently has 1,515 projects worth over US$8.8 billion, including 432 valued at US$1.3 billion from mainland China, 845 worth US$5.4 billion from Taiwan (China), 234 worth US$2.1 billion from Hong Kong (China), and four worth nearly US$41 million from Macau (China).

Projects mainly focus on processing and manufacturing, household utensil production, steel, and electronic components, among others.

Bui Minh Tri, head of the management board of industrial parks in Binh Duong, said the province is stepping up its investment attraction. It will reject, however, projects that cause environmental pollution, use many unskilled workers, and consume much energy.

Binh Duong encourages projects in high technology, supporting industries, and high-quality services, he emphasised.

Mai Hung Dung, Vice Chairman of the provincial People’s Committee, pledged that Binh Duong will further press ahead with administrative reforms and facilitate investment.

Binh Duong has also focused resources on completing socio-economic infrastructure, expanding industrial parks, training human resources, and building housing for workers, he said.

The province hopes to receive more support from the Chinese Consulate General in HCM City, the China Construction Bank, and business associations in the two countries regarding investment attraction, he added.

Binh Duong’s gross regional domestic product (GRDP) increased 6.91% last year and GRDP per capita stood at VND150 million (US$6,500). Its export revenue exceeded US$27.43 billion and import value over US$21.46 billion.

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