Ho Chi Minh City promotes investment in the Central Coast

On the afternoon of October 10, in Quy Nhon City, the People's Committee of Ho Chi Minh City and the People's Committee of Binh Dinh Province held a Conference on Investment Promotion in the Central Coastal Provinces in 2024.

Attending the event to review 1 year of implementing the Socio-Economic Development Cooperation Program between Ho Chi Minh City and the Central Coast provinces were leaders of Binh Thuan, Ninh Thuan, Khanh Hoa, Phu Yen, and Quang Ngai.

Dynamic economic zone, many advantages

Speaking at the conference, Permanent Vice Chairman of the Ho Chi Minh City People's Committee Duong Ngoc Hai emphasized: "We always determine that if we want to develop, we must connect with the provinces. The city always increases trade expansion, both supporting the provinces and connecting and enhancing growth momentum."

Mr. Duong Ngoc Hai suggested that businesses and professional associations in Ho Chi Minh City pay attention to researching, investing in development and expanding markets in the Central Coast provinces - one of the four key regions in the country's sustainable development strategy for the marine economy.

Located near the country's largest economic locomotive, the Central coastal provinces possess a long coastline, many lagoons, bays, beautiful beaches, a clean living environment, and many industrial zones and clusters with large clean land funds, increasingly complete investment attraction policies, abundant young labor, gradually improved traffic infrastructure, a unique culture, and people with a will to be self-reliant, dynamic, and creative.

The Central Coast is also a dynamically developing region. In 2023, Khanh Hoa's economy will recover strongly after the pandemic, with a growth rate of gross regional domestic product (GRDP) of 10.24%; in the first 6 months of 2024, it will increase by 12.7%, ranking 2nd in the country and leading the North Central and Central Coast regions. In Binh Dinh, GRDP in the first 9 months of 2024 will increase by 7.53%, ranking 25th out of 63 provinces and cities; 5th out of 14 localities in the North Central and Central Coast regions.

Leaders of the six provinces reported on the local socio-economic situation; introduced competitive advantages, mechanisms, preferential policies and called on businesses, especially those from Ho Chi Minh City, to expand cooperation and investment.

Committing to "strongly supporting investors, from the stage of forming ideas, seeking opportunities to building projects and implementing operations quickly and effectively", Chairman of Binh Dinh Provincial People's Committee Pham Anh Tuan called on businesses to invest in agriculture, forestry - fishery; industry; port services and logistics; tourism; urban areas...

Binh Dinh is especially focusing on calling for investment in Nhon Hoi Economic Zone, Becamex VSIP Industrial - Urban and Service Park, where "investors will enjoy the highest preferential policies of the Government and additional incentives of the province".

According to General Director of Becamex Binh Dinh Joint Stock Company Nguyen Van Lang, Becamex VSIP Binh Dinh has a scale of 1,425 hectares, has completed 100% of site clearance, and is aiming to attract 2 billion USD, creating job opportunities for 120,000 - 150,000 workers.

Up to now, the project has successfully attracted 171 million USD on an area of ​​60 hectares from corporations and enterprises from Germany, Korea, Hong Kong (China), the Netherlands, and Singapore.

Vice Chairman of Khanh Hoa Provincial People's Committee Tran Hoa Nam shared "4 core values ​​for the province to continue to be a bright spot in the eyes of investors", including: Synchronously developed transport infrastructure, in which Cam Ranh International Airport is one of the most modern and busiest airports in Vietnam; important planning of the province has been approved, moving towards full coverage, facilitating management and calling for investment; Resolution No. 55/2022/QH15 dated June 16, 2022 of the National Assembly on piloting a number of specific mechanisms and policies for the development of Khanh Hoa province; foreign investors and corporations are constantly expanding projects.

Ho Chi Minh City promotes its leading role "for the whole country, with the whole country"

Concluding the conference, Permanent Vice Chairman of the Ho Chi Minh City People's Committee Duong Ngoc Hai assigned the Department of Industry and Trade and the City Trade and Investment Promotion Center to continue to coordinate with relevant departments and branches of the provinces to support and connect Ho Chi Minh City businesses to grasp information, cooperation needs, and investment in fields and projects that are attracting attention in localities.

“Every opportunity opened, every memorandum of understanding signed makes an important contribution to promoting the socio-economic development of each locality in particular and the region in general.

With its role and responsibility as an economic locomotive, “for the whole country, with the whole country”, Ho Chi Minh City is always ready to support and create favorable conditions for domestic and foreign investors and enterprises interested in exploring investment cooperation opportunities; constantly improving the investment and business environment, strongly reforming administrative procedures, speeding up the implementation of key projects and works on transport infrastructure, logistics, etc., promoting investment cooperation projects with the provinces in the Central Coast region in the fastest and most effective way”, Mr. Hai committed.