Singaporean enterprises invest in Binh Duong with a total capital of 6 billion USD

DNHN - On August 25, at the Binh Duong Convention and Exhibition Center, Mr. Mai Hung Dung - Member of the Standing Committee of the Provincial Party Committee, Standing Vice Chairman of the Provincial People's Committee welcomed and worked with the Singapore Business Federation led by Ms. Tan Sock Joo - ASEAN Regional Director, Singapore Business Federation to visit and learn about the investment environment in Binh Duong.

At the meeting, Mr. Mai Hung Dung gave an overview to the delegation about the socio-economic development of the province and emphasized, 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 2.566 billion USD of FDI capital, including 48 new projects, 13 adjusted capital increase projects and 109 capital contribution projects. 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 USD 592 million. Binh Duong is currently ranked second in the country in terms of 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, manufacturing of components, etc. electronic components, electrical equipment, pharmaceutical production, medical equipment, food processing and other types of warehousing, logistics and real estate services... Especially, the model of Vietnam - Singapore Industrial Parks very successful in Binh Duong and many provinces and cities in Vietnam is a clear proof of the effective cooperation between Binh Duong province and Sembcorp Group (Singapore).

Standing Vice Chairman of Binh Duong Provincial People's Committee said that Binh Duong currently prioritizes attracting investment in high-tech, advanced, environmentally friendly, less labor-intensive industries, creating added value. higher; 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 4.0 industry. These are areas of strength of Singapore, he believes the two sides will have more effective cooperation in the coming time.

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 businesses 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 businesses operating in the fields of manufacturing, retail, information technology... of Singapore had a 5-day business trip to exchange, connect and explore 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 Singaporean businesses discussed with provincial leaders and departments about population characteristics, strategic areas to call for investment, policies to attract and train human resources.

Hoang Thu