Attending at Binh Duong bridge point were Mr. Vo Van Minh - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee; Mr. Pham Ngoc Thuan - General Director of Becamex IDC; representatives of leaders of provincial departments, committees and branches.
At the US bridge point, there were Ms. Le Thi Hai Van - Economic Counselor in charge of FDI investment, Vietnam Embassy in the US; Mr. Max Sutherland - President and General Director of World Trade Center Atlanta; Ms. Dawn Townsend - Senior Director of Trade and Investment, Atlanta Department of Economic Development, Georgia Governor's Office; Ms. Leigh Ryan - Vice President of World Trade Center Savannah; Mr. Scott Ellyson - CEO and co-founder of East West Manufacturing and nearly 100 US enterprises.
Creating the most favorable investment environment for enterprises
Speaking at the opening of the conference, Mr. Vo Van Minh - Chairman of Binh Duong Provincial People's Committee affirmed that, after more than 25 years of establishing bilateral relations since 1995, the US and Vietnam have become reliable partners and have an increasingly active and comprehensive cooperation relationship in all fields. Vietnam is the 10th largest trading partner of the US and an important link in the global supply chain; Vietnam is also a major importer from the US with materials and goods to support the development of the economy. Up to now, the US ranks 11th out of 141 countries and territories with foreign investment capital (FDI) in Vietnam with 1,135 projects and a total registered capital of more than 10 billion USD. Particularly in Binh Duong province, the US has invested in 128 projects with a total investment capital of more than 911 million USD.
Delegates attend at Binh Duong bridge point
Emphasizing the importance of the US investment promotion webinar taking place in the context that Vietnam has just experienced the 4th Covid-19 wave with impacts on all aspects of social life, especially in the provinces and cities of the Southern economic region, including Binh Duong, the Chairman of the Provincial People's Committee said that, together with the Southern localities and enterprises, the Vietnamese Government has implemented many strong and quick measures; promptly transformed the "Zero Covid" strategy to "safe, flexible adaptation, effective control over the Covid-19 pandemic, focusing on making good use of opportunities to promote socio-economic recovery and development". Binh Duong province's government has been making efforts to accompany and create the most favorable conditions for enterprises to restore production and maintain supply chains through dialogue sessions, contact with associations and enterprises, including holding a webinar with the American Chamber of Commerce (AMCHAM), attending the Conference entitled "Meet the USA: Partnering for Reopening, Recovery and Rebound in the Southern Economic Region" in order to listen to and promptly resolve difficulties and obstacles, creating favorable conditions for US investors and enterprises to operate effectively in production and business.
In recent years, Binh Duong province's government has always paid attention to supporting the development of investment enterprises in the province through improving the investment environment, enhancing competitiveness, applying science and technology to simplify administrative procedures, deploying human resource training, building social housing, housing for workers, supplying labor sources for enterprises to invest in the province. Therefore, Binh Duong has always been evaluated as one of the leading provinces and cities in the country in socio-economic development, industrial development and attracting foreign direct investment (FDI). Binh Duong is currently the 2nd locality in the country in terms of attracting foreign investment after Ho Chi Minh City with a total of 4,016 investment projects from 65 countries and territories with a total registered capital of more than 37 billion USD.
Enterprises believe in expanding production
At the conference, Ms. Le Thi Hai Van - Economic Counselor, in charge of FDI, Vietnam Embassy in the US introduced policies to attract foreign investment in Vietnam through a number of investment incentive programs. Accordingly, Vietnam has a strategic location in Southeast Asia, convenient waterway transport connecting with countries around the world; road transport with highways connecting local and interregional. Vietnam has an extensive cooperation relationship with international partners, participating in the signing of trade agreements; is the country with the leading innovation index in the region; always pays attention to perfecting institutions and legal regulations to create favorable conditions for foreign investors to invest in Vietnam.
Introducing the preferential policies for foreign investment in Binh Duong and industrial parks invested by Becamex, Mr. Bill Dao - Representative of Becamex IDC in the North American market said, Binh Duong is the first locality in Vietnam to deploy the construction of a Smart City; Science and Technology Industrial Park. The province gives priority to attracting investment from developed countries, leading potential partners in the world with modern management level, including US partners in high-tech, environmentally friendly industries, with little labor intensive, creating high added value; financial services, logistics; supporting industries, hi-tech agriculture and especially attracting investment in the Science and Technology Industrial Park with the goal of becoming the innovation center of the Southern Key Economic Region. When investing in Binh Duong, investors will enjoy many policies on corporate income tax, import tax, value-added tax on exported goods, etc. according to the provisions of the Investment Law. Besides, Binh Duong has a convenient geographical position in the Southern Key Economic Region; young population structure; the infrastructure is synchronously and modernly invested. The provincial government always accompanies and supports enterprises throughout the production and business process.
Mr. Scott Ellyson - CEO and co-founder of East West Manufacturing highly appreciates Binh Duong's investment environment
Speaking at the conference, Ms. Dawn Townsend - Senior Director of Trade and Investment, Atlanta Department of Economic Development, Georgia Governor's Office, said that large US enterprises are concentrated in the state of Georgia, mainly doing business in the high-tech sector. Through research, she highly appreciates the investment environment of Vietnam, including Binh Duong. Binh Duong is an attractive destination, chosen by corporations and companies; is the leading industrial production center in Vietnam. The conference is an opportunity for US enterprises to choose and learn about the investment environment of Vietnam in general and Binh Duong province in particular.
Sharing experience in investing and operating a manufacturing company in Vietnam, Mr. Scott Ellyson - CEO and co-founder of East West Manufacturing informed, East West Manufacturing currently has 02 factories located in Vietnam - Singapore II Industrial Park. Over the time of production in Vietnam, the factory has grown more and more, so in the coming time, the Group will continue to expand 02 more factories under the "green" model with a large scale in Binh Duong to produce products according to the company's new research. He highly appreciated the attention of the Binh Duong provincial government, which has always accompanied US enterprises during the past time, especially in the recent pandemic situation, with the support of local authorities, factory workers have been fully vaccinated with 02 doses.
Chairman of the Provincial People's Committee Vo Van Minh concludes the conference
Concluding the conference, on behalf of the leaders of Binh Duong province, Chairman of the Provincial People's Committee Vo Van Minh cordially invited US investors, enterprises and entrepreneurs to come to explore investment opportunities in Binh Duong. The provincial government is committed to always accompanying, supporting and creating the most favorable conditions for foreign investors, including US investors, maintaining regular dialogue channels with the enterprise community both at home and abroad, in order to promptly adjust policies in line with the local development interests and the legitimate interests of the enterprise community in the province.
Reported by Mai Xuan - Translated by Nguyen Trang