Vietnam – Belgium Hybrid Investment Promotion Seminar in Binh Dinh Province, Vietnam POTENTIALS AND OPPORTUNITIES IN BINH DINH PROVINCE

With The Seminar opening speech, Mr. Pham Anh Tuan – Secretary of Binh Dinh Provincial Party Committee and Chairman of Binh Dinh Provincial People's Committee affirmed that this event was a good opportunity to meet and share potential information and investment opportunities in Binh Dinh Province. Also, he introduced the Provincial Overview of geographical location, potentials and strengths to Belgian businesses. Mr. Pham Anh Tuan showed that Binh Dinh Province had been invested to improve and to perfect the socio-economic infrastructure to be ready to welcome investors, especially infrastructure of Nhon Hoi Economic Zone and the Provincial Industrial Parks (NEZ and IPs) with total area of 15,900 hectares and Provincial industrial clusters with total area of 2,042 hectares. With the guiding point of view of constantly improving and upgrading the quality of business investment to become an ideal destination for domestic and foreign investors, Binh Dinh Province has been paying great attention to developing the local transport infrastructure system as well as the infrastructure of NEZ and IPs, including Becamex VSIP Binh Dinh Industrial Park. In addition, the reform of administrative procedures on investment, construction, tax, customs and improving the relationship between investors, businesses and local authorities at all levels have been considered the top priority aiming the goal of building a professional, modern, effective, efficient, creative and integrity capable administration of serving the people and businesses. Binh Dinh always considers the legitimate interests and success of investors as its own provincial benefits and success. Regarding to the results achieved in socio-economic development in association with national defense and security time after time and the remarkable improvements in transport infrastructure connecting NEZ and IPs, investment and business environment, urbanization rate…, Mr. Chairman committed that whenever coming to Binh Dinh, businesses and investors would be created all favorable conditions their successful project and sustainable development.

At the seminar, Mr. H.E. Karl Van den Bossche –Ambassador of the Kingdom of Belgium to Vietnam affirmed that Vietnam and Belgium have had good and friendly relations for a long time. However, two-way trade and business were still a weak point which needs improving in the coming time. Binh Dinh Province, with the location in Vietnam Central Coast Region, has a lot of potentials and strengths that need exploiting. The existing opportunities that Belgian investors need to take right away were the fields of agriculture, high technology, infrastructure investment, logistics, green energy, renewable energy, chemicals and medicine… The Belgian Ambassador to Vietnam also let us know that the first steps were always the most difficult ones. But the Embassy of the Kingdom of Belgium in Vietnam will always accompany investors when coming to Binh Dinh and every Belgian investor who comes here needs to have a vision and to respect for the laws of Vietnam... Those factors would help to develop sustainably and effectively.

Mr. Nguyen Van Thao – Vietnamese Ambassador to Belgium expressed his view of connecting and accompanying with Belgian investors to Binh Dinh Province at every stage. Binh Dinh is one of the localities that pays great attention to “hard” infrastructure, including the investment in transport infrastructure and clean area for investors when arriving to the Province. Besides, “soft” infrastructure, including open investment policy shown by the recent good PCI, clean and good environment, Provincial friendly people, gentle and hospitable land with the ready available advantages... All of those above things are very important conditions for Belgian investors to receive success in Binh Dinh Province.

Also at the seminar, the current Belgian business community in Vietnam shared the advantages, difficulties and investment process in Vietnam in general and Binh Dinh in particular with Belgian businesses. Particularly, when deciding to invest to Binh Dinh Province, Belgian businesses must determine key factors such as understanding the products for the market, which potentials need exploiting and suiting businesses, employees and consumption network, challenges, risks, Labor Law for foreigners, the business registration process and even language barriers... In returns, when investing to Binh Dinh in particular and Vietnam in general, there will be ready available resources and many preferential policies.

Vietnam – Belgium Hybrid Investment Promotion Seminar in Binh Dinh Province, Vietnam had been continuously expected to be an effective solution to promote the potentials and opportunities in Binh Dinh Province in order to attract foreign investment, including the Kingdom of Belgium in investing to Binh Dinh Province.