Binh Dinh Ready to Accommodate VND60 Trillion of Investment

Chairman of Binh Dinh Provincial People's Committee recently handed investment decisions to three investment projects with registered investment capital of nearly VND60 trillion.

Chairman Pham Anh Tuan of Binh Dinh Provincial People's Committee presented investment licenses to three projects with a total fund of nearly VND60 trillion at a meeting on the Government's Action Program for implementation of Resolution No. 26-NQ/TW of the Politburo on socioeconomic development direction, national defense and security in North Central and Central Coast regions to 2030, with a vision to 2045.

The three approved projects included Long Son Hoai Nhon Iron and Steel Complex; a granite tile production project; and a technology research, production and training complex of FPT Software.

Long Son Hoai Nhon Iron and Steel Complex (in Hoai My commune, Hoai Nhon town) will have an investment fund of VND56,257 billion.

The complex is planned to be built on 468 ha of land (divided into three investment phases), capable of making 5.4 million tons a year, including high-quality steel, construction steel and coil steel.

At the same time, the investor will also study an investment in Hoai Nhon Port, covering 496.9 ha of land and water surface. The port is studied and planned to be a specialized port for Long Son Iron and Steel Complex and it will be a general port in the future. The total investment fund was estimated at VND10 trillion.

This project will increase the budget revenue for Hoai Nhon Town, create jobs for 7,500 workers, and facilitate the development of services and supporting industries for the town as well as the whole province.

The Technology Research, Production and Training Center of FPT Software Co., Ltd has a registered investment fund of more than VND2 trillion.

The project will be built on 15.2ha of land in Quy Hoa Science and Education Urban Area (Ghenh Rang Ward, Quy Nhon City).

The first phase will be constructed on 8.1ha of land and will cost more than VND1,066.5 billion, planned to be implemented from the first quarter of 2023 to the fourth quarter of 2025. The second phase will be built on 4.3ha of land and cost VND565.4 billion, scheduled to be built from the first quarter of 2026 to the fourth quarter of 2028. It will have the designed capacity for 6,712 employees.

The third phase will be built on 2.8 ha of land and cost VND368.6 billion. The phase will be carried out from the first quarter of 2029 to the fourth quarter of 2030. It will have a designed capacity of 4,376 people.

This software research and production center will train and transfer information technology. It will help build the information technology industry into a key and important economic sector of Binh Dinh province.

Once completed, the project will produce information technology products and services to replace imported products and help foster development of telecommunications, finance, banking, customs, aviation, commerce, e-commerce, public services, education, training, healthcare, security and defense. At the same time, it will train and coach Vietnamese IT human resources to become global citizens.

Finally, the granite tile production project (in Expanded Binh Nghi Industrial Park, Binh Nghi Commune, Tay Son District) will be invested by Kamado Industry Joint Stock Company. Costing over VND998 billion for construction, the project is designed to make 18 million cubic meters of products a year.

The project is scheduled to be completed and started operation by September 2024. The project lifetime is 50 years.

This giant industrial production project will increase industrial production value and create jobs for about 800 local workers when it comes into operation.

Mr. Nguyen Bay, Director of Binh Dinh Investment Promotion Center, said, in 2023, the province will focus on attracting investment capital for five key fields: industry, tourism, high-tech agriculture, port and logistics services, urban economy coupled with urbanization.

Binh Dinh will pick up projects that use land and energy economically, use advanced technology, environment-friendly technology, generate high added value, pay big tax to the budget, and assist rapid and sustainable socioeconomic development.

In addition, this province will actively monitor and assess foreign investment flows into Vietnam to have good FDI investment attraction plans. At the same time, the province will prepare the land fund, human resources and necessary technical infrastructure for FDI inflows at the back of the pandemic.

In 2023, Binh Dinh province will strive to attract over 60 projects and over VND20 trillion of registered investment capital (including FDI fund).

Source:  Vietnam Business Forum