A Memorandum of Understanding (MoU) on cooperation was signed between Vietnam’s southern Binh Duong province and Eindhoven City of the Netherlands on January 16.

On the day, another MoU was inked between their local enterprises, Investment and Industrial Development Corporation (Becamex IDC CORP) and Brainport Company.

The signing ceremony saw the presence of Simon Van der Burg, Consulate General of the Netherlands in Ho Chi Minh City and leaders of Binh Duong province and Eindhoven City.

The MoU between the two localities is intended to strengthen the relationship and enhance cooperation in the fields of infrastructure planning and development, urban building, trade, science and technology, health services and education.

Priority will be given to expanding collaborations in science and technology, trade promotion in addition to bolstering investments in industry and hi-tech services, education, personnel training and research centres.

The agreement is expected to contribute to the socio-economic development of both sides.

Under the MoU between Becamex IDC Corp and Brainport, the Dutch company has agreed to help its partner research and apply a business model that nurtures the affiliation between local governments, scientists and enterprises.

Besides, Brainport pledged to support Becamex IDC Corp in improving local supply chain and in founding open research centres and local business incubators which link with major research institutes and universities in the Netherlands and all over the world.

Furthermore, Brainport will help Becamex establish connections with Eindhoven City’s authorities and advise the Vietnamese corporation mainly on personnel, technology and business.

Both sides also look for cooperation opportunities, notably in developing urban areas, industrial zones and hi-tech parks.

Binh Duong province has had valid 2,375 FDI projects thus far with the total investment of 20.38 billion USD.

The Netherlands ranked eighth in the list of 39 countries and territories investing in the locality with 20 projects and 478.5 million USD worth of investments.-VNA