Southern localities look to attract more investment from India
An online conference to promote investment from India to southern localities of Vietnam was held on December 10 in Binh Duong by the provincial People’s Committee and the Ministry of Planning and Investment (MoIT)’s southern investment promotion centre.
Director of the MPI's Foreign Investment Agency Do Nhat Hoang said the event aims to introduce trends of investment demands to Indian enterprises, including prioritised sectors and areas calling for investment, and preferential and investment support policies.
Hoang briefed participants on Binh Duong province’s socio-economic development.
Accordingly, Binh Duong is home to 4,016 projects worth over US$37 billion from 65 countries and territories, including 10 Indian projects totaling US$116 million. It ranks second nationwide in terms of FDI attraction behind Ho Chi Minh City.
The province is accelerating the construction of a science and technology industrial park, and the World Trade Centre in Binh Duong New City project in connection with planning transport infrastructure and logistics system, and training quality human resources.
Representatives from Indian firms said they want to invest in biotechnology, pharmaceuticals, medical equipment, energy in southern localities, saying that a number of factories invested by Indian businesses in Binh Duong have operated efficiently in recent years.
Sanjay Jain, Chief Financial Officer of Wipro Consumer Care Vietnam, highly valued Binh Duong's investment environment, saying that the province boasts great potential for developing biotechnology, chemical, medical equipment, and pharmaceuticals.
Local officials said that Binh Duong will give priority to attracting investment in high-tech and environmentally friendly sectors that use less labourers and create high added value, financial services, logistics, supporting industries, and hi-tech agriculture.