Representatives of Bình Định province grant an investment licence to Kurz International Holdings GMBH from Germany. Photo courtesy of Becamex VSIP Bình Định

BÌNH ĐỊNH — Kurz International Holdings GMBH from Germany has been granted an investment licence for a hi-tech coating and thin film project worth US$40 million at the Becamex Việt Nam-Singapore Industrial Park (VSIP) in Bình Định.

Kurz International are the first foreign investor to be approved at the 1,425 ha park in the central coastal province. It comes just one year after the signing of a Memorandum of Understanding with the park owner Becamex Bình Định Joint-Stock Company.

The project will be built on 12 ha with a total capacity of supplying 15 million square metres of hi-tech film and coating products. It’s expected to begin operation from the second quarter of 2023.

The project highlights the efforts of local authorities, investors and the park owner in land clearance and infrastructure preparations, despite the delays and setbacks caused by COVID-19. 

According to the Bình Định economic zone administration, the Becamex VSIP Bình Định – the areas first industrial, urban and service zone – was developed thanks to a total investment of VNĐ3.3 trillion ($142.1 million). It is a part of the Nhơn Hội economic zone, in the province's Quy Nhơn City. 

The park was designed to draw $2 billion and create about 150,000 jobs for the province, and neighbouring provinces, along the central coast of Việt Nam.

Last year, the province opened a 20km route connecting Nhơn Hội economic zone and Phù Cát Airport, to encourage business and tourism.

Nine VSIP's, a typical economic cooperation model between Việt Nam and Singapore, have been developed in Bình Dương, Bắc Ninh, Hải Phòng, Quảng Ngãi, Hải Dương and Nghệ An. They have attracted 840 partners and investors from 30 countries and territories, and a total investment of $14 billion.

VSIP complexes nationwide cover around 8,600 ha and have created around 250,000 jobs for Vietnamese and foreigners. — VNS