Binh Duong draws FDI after entering new normal

The southern province of Binh Duong on October 18 held an online meeting with executives of Japan’s NTT East and Tokyu Groups to discuss measures to effectively attract investment there.

Speaking at the event, Secretary of the provincial Party Committee Nguyen Van Loi said the province strives to have all online public services levels 3 and 4 added to the national public service portal by 2025. At least 90 percent of local residents will be satisfied with the handling of administrative procedures.

Deputy General Director of the NTT East Tanabe said this year, the group is preparing to become a strategic shareholder of the Vietnam Technology and Telecommunication JSC, a member of Becamex IDC, to contribute to building infrastructure for smart city.

General Director of the Tokyu Group Takahashi said in the near future, Tokyu and Vietnam’s Becamex IDC will build a new shopping mall in Binh Duong New City, which also houses Japan’s AEON supermarket.

Loi expressed his hope that investors will pay more attention to railway projects, and believed that projects on transportation, shopping centres and public transport system will become models in Vietnam.

In the past nine months, Binh Duong’s industrial production index went up 2.93 percent, total retail of goods and services increased by 1.9 percent, and exports and imports up 26.7 percent and 34 percent, respectively. The province also drew over 1.5 billion USD in foreign direct investment.

So far, about 85 percent of local enterprises have resumed their operations.

Japan now ranks second among 65 countries and territories investing in Binh Duong with 327 projects worth 5.7 billion USD./.