Business

Binh Dinh province seeks more investment from Germany

The People’s Committee of Binh Dinh province and the German Industry and Commerce Delegation in Vietnam held a conference on November 21 to promote the European country’s investment in the central locality.
Binh Dinh province seeks more investment from Germany ảnh 1The signing of an MoU on offshore wind power development between the Binh Dinh People's Committee and the PNE AG company on November 21 (Photo: VNA)
Binh Dinh (VNA) – The People’s Committee of Binh Dinh province and the German Industry and Commerce Delegation in Vietnam held a conference on November 21 to promote the European country’s investment in the central locality.

Addressing representatives of German and Vietnamese firms, Secretary of the provincial Party Committee Ho Quoc Dung expressed his hope for stronger partnerships with German enterprises, especially in fields such as electronic component manufacturing, automobile supporting industry, seaport infrastructure, industrial park infrastructure, energy, tourism, high-tech agriculture, fisheries, trade in services, and environmental protection.

He called on German enterprises to expand their investment and assist local firms to engage more deeply in supply and value chains.

Binh Dinh will provide maximum support for foreign investors, enterprises, and partners, including those from Germany, to seek chances for successful, sustainable, and long-term investment in the province and help fuel the development of local businesses, he stated.

However, Dung also pointed out that German investment in the province remains modest and has yet to match the potential, adding Binh Dinh has attracted just four investment projects worth over 55 million USD from Germany, mainly in industrial production.

Pham Anh Tuan, Chairman of the provincial People’s Committee, said special incentives for investors will be issued such as the ones on corporate income tax, import tariffs, and land rent.

At the event, Binh Dinh authorities and the PNE AG company signed a memorandum of understanding on cooperation in an offshore wind power project. The 2,000MW project is expected to have 4.6 billion USD in investment./.
VNA
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