Binh Duong calls for investment in less labour-intensive industries
The southern province of Binh Duong will focus on attracting investment in hi-tech, less labour-intensive and environmentally friendly industries in the time ahead.
Chairman of the Binh Duong provincial People’s Committee Tran Thanh Liem (R) presents a gift to Sae-A group CEO James Ha at their meeting on September 5 (Photo:VNA)Binh Duong (VNA) – The southern province of Binh Duong will focus on attracting investment in hi-tech, less labour-intensive and environmentally friendly industries in the time ahead.
Chairman of the provincial People’s Committee Tran Thanh Liem made the remark while meeting with CEO of the Republic of Korea (RoK)’s Sae-A group James Ha on September 5.
Liem noted his province will enlarge existing industrial parks and build new ones to welcome more foreign investors, thus expanding the total industrial park area to 14,000ha by 2020.
It is going to devise a number of concrete policies to attract foreign investment, hoping that foreign firms will step up operations in Binh Duong and help fuel local economic growth.
The provincial People’s Committee, departments and sectors are ready to provide favourable conditions in terms of administrative procedures, land and factory construction so as to give investors the best possible business environment, he said.
[Binh Duong strives to become ideal destination for investors]
The official added Binh Duong also wants to receive sincere feedback on relevant issues from entrepreneurs in order to make appropriate adjustments.
For his part, James Ha said more than 7,000 of his group’s 19,000 employees in Vietnam are working in Binh Duong. Sae-A is currently concentrating on apparel production, but it intends to expand investment to electronics and high technology, which suits the local industrial development orientation.
According to the Binh Duong administration, the RoK is the third biggest foreign investor in the province, following China’s Taiwan and Singapore, with 619 projects worth over 2.69 billion USD in total. RoK investors have invested 306 million USD in 16 new projects and 17 existing ones so far this year.-VNA
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