Binh Dinh attracts investment from Thailand

View of the seminar in Binh Dinh

Addressing at the seminar, Mr. Lam Hai Giang, Vice Chairman of the Provincial People's Committee informed the Thai businesses about the potential, strengths and investment opportunities in Binh Dinh province and said that to attract investment in Binh Dinh, in the past years, the Provincial People's Committee and the agencies and localities in the province had promoted and attracted investment from the domestic and foreign investors; actively constructed and developed the friendship relation with the State agencies as well as the trade and investment cooperation relations with foreign enterprises, including the Thai ones.
With the viewpoint of continuing to improve and enhance the quality of business investment environment to become “an ideal destination” for both domestic and overseas investors, Binh Dinh has focused on developing and completing the transport infrastructure system in the province as well as the infrastructure in economic zone, industrial parks, including Becamex VSIP Binh Dinh one. Besides, the reform of administrative procedures on investment, construction, tax, customs and the improvement of the relationship between businesses, investors and local authorities at all levels have been given top priority, towards the goal of building a professional, modern, effective and efficient administration, capable of creating the development and integrity to serve the people and businesses.
"Coming to Binh Dinh, the businesses and investors will be given all favorable conditions for successful project implementation and sustainable development",  Vice Chairman of the PPC Lam Hai Giang pledged.

Vice Chairman of the PPC Lam Hai Giang (standing) delivers a speech at the seminar

At the seminar, Vice Chairman of the PPC Lam Hai Giang, General Director of Becamex Binh Dinh Joint Stock Company Nguyen Van Lang and the leaders of relevant departments and agencies exchanged information and answered all questions that Thai businesses raised, including: the preferential policies for foreign enterprises; the salary for workers; which industries should be invested in Binh Dinh; the land lease price at Becamex VSIP Binh Dinh, etc.

Talking about the investment opportunities in Vietnam, Ms. Wiraka Moodhitaporn, Consul General of the Kingdom of Thailand in Ho Chi Minh City highly valued the recovery and rapid growth of the Vietnam economy, especially in the past 2 years, Vietnam is one of a few countries with positive growth while most countries face difficulties due to the COVID-19 pandemic. She also highly valued the potential and advantages of Binh Dinh province in terms of the natural conditions, socio-economic infrastructure, human resources, etc. and said it was an attractive new investment destination in Vietnam.
Especially, at the seminar, some Thai enterprises investing in Binh Dinh province affirmed: Binh Dinh is an ideal destination for investors because it is one of the provinces with the combined advantages of geographical location, infrastructure and precious natural resources in Vietnam. Binh Dinh has 8 industrial parks with an area of ​​over 3,000 hectares, with synchronously developed infrastructure, ensuring to meet the investment requirements and business activities expansion of domestic and foreign investors. Particularly, Becamex VSIP Binh Dinh with an area of 1,000 hectares of industrial sector, of which nearly 200 hectares of clearance land is ready to be handed over to investors, is an industrial park worth paying attention to invest nowadays. Along with that, Binh Dinh has many preferential policies for businesses such as corporate income tax rate is 10% for 15 years; 0% tax exemption for the first 4 years since taxable income is generated; 50% off for the next 9 years and so on.
In Binh Dinh province, there are 9 enterprises of Thailand or with capital from Thailand investing in 10 projects with a total investment area of nearly 50 hectares, with a total registered investment capital of more than USD 106 million, of which there are 5 projects in the service sector, 4 industrial projects and 1 fishery project. For the past years, Thai enterprises have made significant contributions to the development of the province; at the same time, they are also
potential partners for the supply chain of domestic and foreign enterprises, especially Thai businesses interested in investing in Binh Dinh province in the coming year.