At the meeting, Mr. Mai Hung Dung briefly informed the delegation about the province's socio-economic development situation and emphasized that Binh Duong has always been evaluated as one of the leading provinces and cities nationwide in terms of socio-economic development and attracting foreign direct investment (FDI). Particularly in the first eight months of 2022, the province has attracted 2 billion 566 million USD of FDI capital, including 48 new projects, 13 capital adjustment projects and 109 capital contribution projects to buy shares. Accumulated to August 15, 2022, the province has 4,063 investment projects from 65 countries and territories with a total registered capital of 39 billion 592 million USD. Binh Duong is currently ranked 2nd in the country in attracting foreign investment, after Ho Chi Minh City.
Currently, Singapore ranks third with investment capital in Binh Duong with nearly 300 projects, with a total capital of nearly 6 billion USD in the fields of: Investment in infrastructure development of industrial parks, production of electronic components, electrical equipment, production of pharmaceuticals, medical equipment, food processing and other types of warehousing, logistics and real estate, etc. In particular, the successful model of Vietnam - Singapore Industrial Parks in Binh Duong and many provinces and cities in Vietnam is a clear proof of the effective cooperation between Binh Duong province and Sembcorp (Singapore).
Permanent Vice Chairman of the PPC said that Binh Duong is now giving priority to attracting investment in high-tech, advanced, environmentally friendly, less labor-intensive industries and fields, creating high added value; financial services, logistics and other modern services; supporting industries, high-tech agriculture and especially attracting investment in the Science and Technology Industrial Park on the basis of industry 4.0. These are areas of strength of Singapore, he believed the two sides will have more effective cooperation in the coming time.
Overview of the meeting
On behalf of the Singapore Business Federation, Ms. Tan Sock Joo thanked the warm welcome of the provincial leaders and departments. She said that the Singapore Business Federation was established in 2002, with the function of creating bridges with countries to promote Singapore enterprises to reach the world market. In recent years, the cooperation relationship between Vietnam and Singapore has developed strongly, especially in the field of trade and investment. Following that success, leaders of 23 enterprises operating in the fields of manufacturing, retail, information technology, etc. of Singapore had a 5-day business trip to exchange, connect and explore investment cooperation opportunities with potential partners in Vietnam. The delegation highly appreciated the dynamic development and open and attractive investment environment of Binh Duong province and looked forward to investment cooperation in appropriate fields.
At the meeting, leaders of 23 Singapore enterprises discussed with provincial leaders and departments about population characteristics, strategic areas to call for investment, policies to attract and train human resources of Binh Duong province; cooperation opportunities in the field of e-commerce, digital transformation, automation, etc.
Ms. Tan Sock Joo - ASEAN Regional Director, Singapore Business Federation presents a souvenir to Mr. Mai Hung Dung – Permanent Vice Chairman of the PPC
Reported by Phuong Chi- Translated by Thanh Tam