PORTAL - On the afternoon of November 23, at the Provincial Convention and Exhibition Center, the People's Committee of Binh Duong province held the Thailand investment promotion webinar.
Attending at Binh Duong bridge point were Mr. Le Phu Hoa - Director of the Department of Foreign Affairs; Mr. Pham Ngoc Thuan - CEO of Becamex IDC; Mr. Natthapol Na Songkhla – Acting Consul General of Thailand in Ho Chi Minh City; Mr. Tharabodee Serng-Adichaiwit - General Director of Bangkok Bank in Vietnam; representatives of leaders of provincial departments, committees and branches.
At Hanoi bridge point, there were Mr. Audsitti Sroithong - Minister Counsellor of Investment, Royal Thai Ambassador in Hanoi.
At Thailand bridge point, there were Mr. Apichit Prasoprat - Vice Chairman of the Federation of Thai Industries; Mr. Rakesh Singh - Secretary General of Thailand-Vietnam Business Council and more than 100 Thai investors.
Appreciating Binh Duong's investment environment
Speaking at the webinar, Mr. Le Phu Hoa - Director of Binh Duong Department of Foreign Affairs said that, over 45 years of establishing diplomatic relations between Vietnam and Thailand, the two countries have achieved great achievements in all fields. Up to now, Thailand is the 9th largest investor out of 141 countries and territories investing in Vietnam, with more than 369 projects and total investment capital of 13 billion USD. Particularly in Binh Duong province, Thailand is currently ranked 13th out of 65 countries and territories with 40 projects and total investment capital of more than 685 million USD. Thailand's major companies invest in Binh Duong such as Srithai Vietnam, SCG Vietnam, Vina Kraft Paper Company Limited (under SCG Group), KSP Vietnam Co., Ltd (under CP Group), Red Bull Vietnam Co., Ltd., BJC Vietnam, etc.
Delegates attend at Binh Duong bridge point
Although in 2021, facing many difficulties and challenges due to the Covid-19 pandemic, Binh Duong province still strives to maintain economic growth and development. The province's gross regional domestic product (GRDP) in the first 6 months of 2021 still achieves a growth rate of 7.23%; the province's economic structure continues to move positively towards gradually increasing the proportion of services, industry, maintaining and improving agricultural values in a reasonable manner. In the first 10 months of 2021, the province's export turnover is estimated at 26.4 billion USD, import turnover is estimated at 21.4 billion USD, maintaining a trade surplus of 5 billion USD. Regarding foreign investment, Binh Duong has attracted 59 new projects, 23 capital adjustment projects and 155 investment projects in the form of capital contribution and share purchase with a total registered investment capital of more than 1.92 billion USD. Accumulated to October 31, 2021, the province has 4,008 investment projects from 65 countries and territories with a total registered capital of 37 billion USD, ranking second in the country in terms of attracting foreign investment capital after Ho Chi Minh City.
In parallel with promoting economic development, Binh Duong province also actively expands international cooperation relationships and has established bilateral cooperation relationships with 10 foreign provinces and cities and is a partner of 04 multilateral international cooperation organizations. Also, it is an official member and reliable partner of 03 international organizations, including the Intelligent Community Forum (ICF), Asian Economic Cooperation Forum (Horasis) and World Trade Centers Association (WTCA).
Overview of the webinar at Binh Duong bridge point
Assessing the investment environment of Binh Duong, Thai enterprises with manufacturing factories in Binh Duong said that Binh Duong is one of the leading localities in the country in terms of industrial development. Large foreign enterprises when investing in Vietnam always choose Binh Duong as the first destination in the South of Vietnam because Binh Duong has a great advantage in terms of transport infrastructure connecting the region, industrial parks are invested in synchronous and modern infrastructure. In addition, the Binh Duong provincial government always accompanies and timely supports to remove difficulties for enterprises so that they can operate effectively, especially during the recent Covid-19 pandemic. Mr. Sompob Witworrasakul – Chief Regional Officer and General Director of Vina Kraft Paper (Vietnam) Co., Ltd. said that SGC Group has invested in Vietnam for more than 20 years, in which the factory in Binh Duong is invested with modern machinery specializing in the production of packaging products for distribution to the markets of countries around the world. During the recent Covid-19 pandemic wave, the factory's operations were significantly affected, especially the import of production materials. However, with the convenience in traffic connecting river ports, seaports, airports with neighboring areas of Binh Duong, the company has found a solution to import production materials. He also thanked for the companionship and facilitation of Binh Duong authorities at all levels during the past difficult time. With the enthusiastic guidance of the Health branch, the Company has established a Rapid Response Group at the Company to promptly handle Covid-19 cases. The province also created conditions for all workers of the Company to fully receive 02 doses of Covid-19 vaccine.
Continuing to create favorable conditions for investors
Introducing the investment environment of Binh Duong and the projects being developed by Becamex IDC to meet the investment needs of enterprises, a representative of Becamex IDC said that the province is focusing on building Binh Duong Smart City after Binh Duong was honored by the Intelligent Community Forum (ICF) as one of 7 cities and regions with a typical smart city development strategy of the world in 2021. Binh Duong is also building the Science and Technology Industrial Park and the World Trade Center Binh Duong New City. Building transport infrastructure connecting the region, a system of logictics, training high-quality labor resources along with investment incentive policies of Vietnam. In the development strategy, Binh Duong province will continue to implement the "Binh Duong Innovation Region" project with the planning of a Science and Technology Industrial Park, an innovative start-up ecosystem, promoting the proportion of services, especially e-commerce, international trade with the typical project being the World Trade Center Binh Duong New City. Recently, Becamex IDC has won the title of "The most prestigious industrial real estate enterprise" and also in November 2021 held an online signing ceremony in collaboration for the development of Binh Duong Smart City and Binh Duong Innovation Region with The Connected Places Catapult (CPC – United Kingdom). This is the driving force for Binh Duong province to attract foreign investors to the region, creating a remarkable development in investment attraction.
Besides, Binh Duong's labor market is gradually stabilizing again. According to statistics, the number of workers who have returned to Binh Duong to work is about 90%. Currently, industrial parks are short of only about 200,000 workers. "We are implementing solutions to meet the labor needs of enterprises. The province has issued a plan to attract and welcome workers back to Binh Duong to work. The province will prioritize vaccination and create conditions for workers to have stable accommodation. We believe that, with the province's policies, the labor problem will not be difficult." - Mr. Nguyen Thanh Trung - Head of the Provincial Industrial Zones Authority confirmed to investors.
Mr. Pham Ngoc Thuan - CEO of Becamex IDC informs about the enterprise's activities after the Covid-19 pandemic
Providing information on the operation situation of enterprises after the Covid-19 pandemic and Binh Duong's support policies for enterprises, Mr. Pham Ngoc Thuan - CEO of Becamex IDC said that during the complicated development of the pandemic, Binh Duong province focused on pandemic prevention and control; with the attention and direction of the Government, Central Ministries and branches, enterprises in Binh Duong province still carry out production and business activities but there are limitations not to break the production chain. Up to now, about 90% of enterprises have resumed operations in the new normal. The provincial government always cares and supports enterprises and workers, especially, so far, experts and workers have been fully vaccinated with 2 doses of Covid-19 vaccine. The province also implements policies to support enterprises and workers according to the guidance of the Central Government. In the coming period, Binh Duong will continue to invest in infrastructure, especially arterial roads connecting to airports and seaports to shorten time and save freight costs. The province also promotes digital transformation, striving that by early 2022, some administrative procedures related to the investment field will be carried out online. The province also pays special attention to the accommodation of workers, it is expected that, in the 2022-2025 period, the province will deploy to build 1 million social housing units with suitable prices for workers to have stable accommodation.
Mr. Le Phu Hoa - Director of the Department of Foreign Affairs concludes the conference
Concluding the conference, Mr. Le Phu Hoa - Director of the Department of Foreign Affairs affirmed that the provincial government will always accompany enterprises; develop preferential policies for investors and workers, especially, plan a clean land fund for production investment enterprises. In the following years, Binh Duong province wishes to continue to receive active cooperation from the Federation of Thai Industries, the Thai Chamber of Commerce, the Thai Business (Vietnam) Association and from the Embassy of Vietnam in Thailand in calling for investment attraction, expanding relations to raise the level of bilateral cooperation, and promoting multilateral cooperation to create new breakthroughs in the context of the Industrial Revolution 4.0 and in the current deepening international integration process.
Reported by Mai Xuan - Translated by Nguyen Trang