Signing MoU on Investment Co-operation between German Kurz and Binh Dinh Province
In the morning of December 22nd 2020, at the Office of Binh Dinh Provincial People’s Committee, Memorandum of Understanding (MoU) on cooperation between Leonhard Kurz Stiftung & Co. KG (Kurz Group from Germany) and Binh Dinh Provincial People’s Committee was signed by Dr. Andreas Hirschfelder, member of Management Board, Senior Vice President of Kurz Group and Mr. Nguyen Phi Long, Chairman of Binh Dinh Provincial People’s Committee and Director of Binh Dinh Economic Zone Authority (BEZA). The event attendants were included leaders of Binh Dinh Provincial Departments such as Foreign Affairs’ Department, Planning and Investment Department, Industry and Trade Department, Construction Department, Natural Resources and Environment Department and BEZA.
According to the above MoU, Kurz Group agreed to prepare an investment for a factory of manufacturing hot stamping foils in Binh Dinh Province with investment capital around USD 30 million ~ USD 40 million for the first phase of The Project and up to USD100 million for the full project on about 10 ha of land in one of Binh Dinh Provincial Industrial Parks. By the end of 2021, Kurz Group would sign a contract of land use, prepare all its power resources, execute The Project and other related matters.
Binh Dinh Provincial People’s Committee committed to create all conditions for investment processes and procedures for the investor to deploy its investment and cooperation as fast as possible, provided support in legal issues and policies on investment in Binh Dinh Province for Kurz Group, provided support in necessary information of raw material areas, labor supply for production factories; supported to facilitate land and procedures related to factory construction.
With the speech at the event, Mr. Nguyen Phi Long, Chairman of Binh Dinh Provincial People’s Committee and Director of BEZA expressed his pleasure with the decision from Kurz Group to choose Binh Dinh Province to develop its high-tech complex of manufacture factory, which was the third project of The Group in Asia. Mr. Chairman also emphasized that with the active EVFTA contract between Vietnam and Europe Union, economic cooperation chances would be quickly developed in bilateral investment. Kurz decision on investing to Binh Dinh Province would be big chance to attract investment from Germany in private and EU in general. Besides, with this high-tech project, Binh Dinh Province would take a chance to reach high technology aim of the province by receiving that from Europe and all over the world. Binh Dinh Province and all provincial departments committed to create the most favorable conditions for Kurz Group to set up The Project in 2021 as committing in The MoU.
Dr. Andreas Hirschfelder, Senior Vice President of Kurz Group let us know that the survey process started in 2018 with much time on working, searching investment opportunities and location, Kurz came to the decision to choose Binh Dinh Province to set up its third high-tech factory in Asia after its two projects in China and Malaysia. Founded in 1899, at the moment, Kurz was the top group in producing thin heat pressed foil and other related technologies. Furthermore, Kurz Group had researched other provincial related conditions such as investment environment, investment policies, human resource of high quality. Besides the project of manufacturing hot stamping foils, as mentioned above, Kurz Group also expressed the idea of long-term investing and developing in Binh Dinh Province.
Binh Dinh Provincial People’s Committee committed to create all conditions for investment processes and procedures for the investor to deploy its investment and cooperation as fast as possible, provided support in legal issues and policies on investment in Binh Dinh Province for Kurz Group, provided support in necessary information of raw material areas, labor supply for production factories; supported to facilitate land and procedures related to factory construction.
With the speech at the event, Mr. Nguyen Phi Long, Chairman of Binh Dinh Provincial People’s Committee and Director of BEZA expressed his pleasure with the decision from Kurz Group to choose Binh Dinh Province to develop its high-tech complex of manufacture factory, which was the third project of The Group in Asia. Mr. Chairman also emphasized that with the active EVFTA contract between Vietnam and Europe Union, economic cooperation chances would be quickly developed in bilateral investment. Kurz decision on investing to Binh Dinh Province would be big chance to attract investment from Germany in private and EU in general. Besides, with this high-tech project, Binh Dinh Province would take a chance to reach high technology aim of the province by receiving that from Europe and all over the world. Binh Dinh Province and all provincial departments committed to create the most favorable conditions for Kurz Group to set up The Project in 2021 as committing in The MoU.
Dr. Andreas Hirschfelder, Senior Vice President of Kurz Group let us know that the survey process started in 2018 with much time on working, searching investment opportunities and location, Kurz came to the decision to choose Binh Dinh Province to set up its third high-tech factory in Asia after its two projects in China and Malaysia. Founded in 1899, at the moment, Kurz was the top group in producing thin heat pressed foil and other related technologies. Furthermore, Kurz Group had researched other provincial related conditions such as investment environment, investment policies, human resource of high quality. Besides the project of manufacturing hot stamping foils, as mentioned above, Kurz Group also expressed the idea of long-term investing and developing in Binh Dinh Province.
Author: Đặng Nguyên Phúc
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