Wednesday, October 28 2020


Bình Định wants two large projects to seek FDI

Update: August, 19/2020 - 20:25


A corner of Bình Định Province. The province was speeding up administrative reforms and improving the investment climate to attract foreign investors. — Photo

HÀ NỘI — Bình Định Province has proposed two large projects to be added to the list of those calling for foreign direct investment (FDI) in a recent report sent to the Ministry of Planning and Investment.

One is an automobile plant project with a capacity of 30,000-50,000 units per year, covering 50 hectares in Becamex – Bình Định Industrial, Urban and Service Complex. The project is expected to need an investment of US$250 million.

Mitsubishi Motors Việt Nam is looking for an appropriate destination for its second plant in Việt Nam with an investment of about $250 million.

At a working session with Bình Định authorities in June, Mitsubishi Motors Việt Nam’s general director Kenichi Horinouchi said the south-central coastal province was among the company’s top choices thanks to the developed transport and technical infrastructure system coupled with a huge clean land fund which was favourable for building automobile component plants.

Chairman of the provincial People’s Committee Hồ Quốc Dũng said he expected Mitsubishi Motors would invest in the province, pledging favourable policies for foreign investors, especially the automobile plant.

Dũng said the province was speeding up administrative reforms and improving the investment climate, which together with the availability of clean land would create favourable conditions for foreign investors.

The second project is a 300-bed hospital in Nhơn Hội Economic Zone which would cover an area of 3.5 hectares and have total investment of $15 million.

The previous list of projects seeking investment in Bình Định included four, of which a $24 million hospital and a $4 billion thermo-electricity centre are no longer seeking investment as projects are no longer appropriate to the province’s development planning.

The other two projects, including Cát Nhơn solid waste treatment project with an estimated investment of $75 million and a road upgrade project worth around $100 million, found investors.

According to the provincial Economic Zone (EZ) Management Board, Nhơn Hội EZ and other industrial zones (IZs) in the province attracted 33 FDI projects as of February, worth $506 million in registered capital. Twelve countries and territories have invested in Ezs and IZs in the province with China, Singapore and Japan being the largest investors.

The Ministry of Planning and Investment’s statistics showed Bình Định attracted more than $2.3 million FDI in January-July, with two new projects and one existing project raising its registered capital. — VNS


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