Binh Dinh Creates Favourable Business Environment

10:47:37 PM | 24/10/2011

With many investment potentials and incentives, Binh Dinh province is becoming a favourite destination for many foreign and domestic enterprises when they invest in the key central economic zone. At a recent press conference in Quy Nhon City, Mr Le Huu Loc, Chairman of Binh Dinh People’s Committee, revealed some information about foreign investment in the province. Huong Ly reports.
Could you please talk about the local investment potential and opportunities for foreign businesses in the past time?
Binh Dinh is one of five provinces in the central economic zone. It lies at the centre of North - South traffic routes on all roadway, railways and airway. It is the nearest and most favourable seaport for the Central Highlands, southern Laos, north-western Cambodia and Thailand (Quy Nhon international port and National Road 19). With this position, Binh Dinh has distinctive advantages in regional and international economic linkages.
 
Binh Dinh is synchronous transport systems, infrastructure, postal service, telecom, finance, banking, education and health care to serve the needs of all citizens and businesses.
 
As of August 2011, the province was home to some 4,500 domestic enterprises, 38 foreign-invested companies, and nearly 500 branches and representative offices of domestic and foreign firms. Some major projects are Metro Cash& Carry and Fresenius Bidiphar.
 
Our land rents in industrial zones are very low, just US$16 per square metre in 50 years. The rates outside industrial parks are also low. The province will expand the Quy Nhon port to boost up cargo throughput.
 
The province’s industrial zone system has been expanded relatively strongly in the past time. What are the advantages that businesses will enjoy when they invest in these industrial zones?
Binh Dinh is building Nhon Hoi Economic Zone and six industrial zones for investors. The province is always ready to create convenient locations for investors. Lying near Quy Nhon City, the capital of Binh Dinh province, the 12,000-ha Nhon Hoi Economic Zone is open to all domestic and international investors.
 
Established in June 2005, Nhon Hoi Economic Zone is designed to be a general multi-industry economic zone. It consists of non-tariff zone, industrial zone, seaport, port service zone, tourist zone, and new urban zone operated under a special preference mechanism. It is the centre and the driving force for socioeconomic development of Binh Dinh province and the central region. The economic zone is opening up investment and business opportunities for enterprises. They can invest large-scale in deepwater seaport construction, shipbuilding, ship repairing, oil and petrochemical refining, electrical and electronic appliance manufacturing and assembling, power generation, tourism development, marine service, commercial service, financial and banking service, post - telecom service. Besides, they can choose to locate in tariff zone, export processing zone or nontariff zone.
 
What areas is Binh Dinh province is calling investment for?
Tourism is a local strength. Currently, we are attracting a United States investor to build Vinh Hoi tourist site in Phu Cat district. Infrastructures for travelling and amusement are being upgraded. The province plans to increase flights from Ho Chi Minh City and Hanoi to Quy Nhon City to facilitate travelling.
 
What are preferential policies Binh Dinh province offers businesses?
We have created favourable conditions for investors, including projects outside industrial parks, to develop economy and focus on building transportation infrastructures. In addition, Binh Dinh province is responsible for clearing investment sites.
 
First, the province issues incentive policies to attract more investment capital.
 
Second, as mentioned above, land rents for foreign investors are also very low. We will have more reasonable incentives for investors.
 
Third, the province will step up public administration reform and upgrade infrastructure. Coupling positive spirit of cooperation is practical supports. The province hopes more businesses will invest in Binh Dinh province in the future. The Provincial People’s Committee will create all favourable conditions for businesses to invest here.