Last updated: Wednesday, February 22, 2017
Attractive Destination to Investors
Posted: Wednesday, February 15, 2017
20 years after the re-establishment, Binh Duong province has made remarkable achievements in economic and social development. Notably, with efforts for infrastructure construction investment and administrative procedure reform, Binh Duong province became one of the biggest recipients of investment capital. Vietnam Business Forum would like to introduce the opinions of entrepreneurs and investors on the investment climate and business in Binh Duong. Quoc Hung reports.
Mr Nguyen Thanh Tung, Director of Bao Viet Binh Duong Company
With a strategic vision, dynamism and creativity of the provincial leadership, the province’s better competitiveness and business environment enabled Binh Duong to take the lead in domestic and foreign investment attraction. However, in my opinion, local human resources lack qualifications. Therefore, the province should adopt measures to attract highly skilled workers in all fields, provide all favourable conditions for workers in the province and from other localities to grasp development opportunities to attract labourers. Besides, it is necessary to improve infrastructure, particularly key projects like Binh Duong Boulevard and Provincial Road DDT743, to match the pace of economic development.
Mr Kang Young Kyu, Deputy General Director of Kumho Tire
The investment environment in Binh Duong province is very good. The local government is very friendly and supportive to businesses. Favourably located close to the southern financial and economic centre - Ho Chi Minh City and key economic areas such as Dong Nai and Vung Tau, as well as easy freight transportation from Cat Lai and Saigon ports to southeast and southwest provinces, the government needs to consider raising the quality of infrastructures and roads for industrial service development in addition to existing industries. I hoped that local governments at all tiers are committed to providing favourable conditions for enterprises to develop investment and business operations and contributing to local socioeconomic development.
Mr Chen Chun Hung, Assistant to CEO of KYMCO Vietnam Company
In the latest 20 years, Binh Duong province has had a very fast growth pace and significantly improved infrastructure such as transport and power systems. The newly built city has given a new facelift to Binh Duong province and showed its determinations to a modern city. This has greatly fostered investor confidence. Talent is a very important factor to long-term business development of any company. Nonetheless, as highly qualified labourers still prefer residing in Ho Chi Minh City, so it is crucial to upgrade traffic routes linking Ho Chi Minh City and Binh Duong province to bring more workers to the province. The province needs to build public works and promote cultural and artistic activities to improve living standards to lure talented people to settle down in Binh Duong. This also facilitated enterprises to recruit highly skilled workers. Rising land price is a barrier to enterprises with big expansion projects. I hope that Binh Duong province will rezone old industrial zones to enhance agricultural land productivity.
Ms Nguyen Thi Kim Anh, General Director of Lai Thieu Feed Company
Binh Duong province has right development policies, good business and investment environment. In my opinion, the province will continue to apply solutions on investment, environmental protection and human resources development. Besides, it is important to invest in more synchronous and modern infrastructure and collect investor opinions to address emerging problems against businesses and investors.
Mr Sakai Yoichiro, CEO of Becamex Tokyu Company
Binh Duong province’s GDP growth reached 13.5 per cent in 2016, more than doubling the country’s rate. The province is consistently rated the best investment environment in Vietnam. Binh Duong lies near to Ho Chi Minh City and surrounding provinces in the southern key economic zone, a plus for the province to catch the fancy of investors from other countries in the world, including Japan. Currently, Binh Duong is a major production base of southern Vietnam.
In the past 20 years, Binh Duong province attracted 2,700 foreign-invested projects from 59 countries and territories in the world. The provincial government and Becamex IDC Corporation are focusing on building infrastructure, particularly traffic, to facilitate urbanisation. With the above conditions and achievements of Binh Duong province, Tokyu Group decided to choose new Binh Duong City to locate its first investment in Vietnam. In 2014, the Binh Duong Administrative Centre was relocated to the new city as planned. This positively impacted construction and development in the region.