Planning to promote and attract investment 2024

Binh Duong selectively attracts high-quality projects with high added value, utilizing modern technology and techniques, and being environmentally friendly.

The purpose of the Plan is to implement focused and targeted investment attraction activities; linked to the effective development and implementation of socio- economic development strategies, plans, and programs; to rapidly shift the economic structure towards increasing the proportion of industry and services; to build Binh Duong into a sustainably developed, smart, civilized, and modern city, contributing to achieving the goal of improving and enhancing people's lives; to achieve economic growth while protecting the environment and implementing strategic breakthroughs; and to strive to build Binh Duong into a sustainably developed, smart, civilized, and modern city, and one of the leading provinces in attracting investment nationwide.

At the same time, Binh Duong province will also focus on achieving the target of attracting over 9 billion USD in foreign investment (7.34 billion USD has been attracted since the beginning of the term, reaching 81.5% of the plan) according to Resolution No. 01-NQ-DH dated October 19, 2020 of the 11th Congress of the Binh Duong Provincial Party Committee, term 2020 - 2025; in particular, Binh Duong will continue to maintain the implementation of the Politburo 's Resolution 50-NQ/TW on not simply "attracting" foreign investment but will "cooperate" with foreign investors on the principles of equality and selection, in order to upgrade production levels, enhance the self-reliance of the economy, and ensure that foreign investment resources bring benefits to both investors and the State in terms of economics, society, and the environment...

The plan of the Binh Duong Provincial People's Committee also requires selectively attracting high-quality projects with high added value, using modern, environmentally friendly technologies and techniques; clean technologies that ensure environmental protection; supporting industries; and large investors and partners with strong financial capacity and investment experience. It also emphasizes selectively choosing large-scale projects with high competitiveness, as well as developing urban, service, and logistics systems linked to the industrial belt along the Ring Road 3 and 4 corridors and expressways; and participating in the global value chains of large companies and multinational corporations in industrial parks.

Simultaneously, diversify investment partners and forms; prioritize foreign investment projects linked to the domestic economic sector, consistent with the economic restructuring orientation serving sustainable development goals; strengthen cooperation and investment promotion with large corporations; focus on partners with strong financial capacity and experience, such as corporations and conglomerates with nationwide business systems; businesses from developed economies such as the US, EU, Japan, South Korea, Singapore, etc.; key partners by country and region: Japan, South Korea, Singapore, and investors from developed economies and countries with high technology such as the US, Canada, France, Germany, and the UK.

Furthermore, Binh Duong province has identified administrative procedure reform coupled with digital transformation as a fundamental and long-term solution that needs to be implemented decisively to improve the investment environment, especially in the implementation of post-investment licensing procedures related to land, construction, environment, customs, etc., to support projects in starting operations sooner; focusing on investing in synchronous and continuous infrastructure along key transportation routes, with a ripple effect and connectivity with routes in the Southern Key Economic Region, especially the main routes connecting raw material and production areas with the system of seaports for goods circulation; maintaining traditional markets and partners, applying diverse information technologies, and strengthening connections with investment partners through organizing online and in-person promotion programs.

Source: https://baotainguyenmoitruong.vn/binh-duong-len-ke-hoach-xuc-tien-and-thu-hut-dau-tu-2024-379807.html