Fri. May 27th, 2022

The central coastal province of Binh Dinh has recently welcomed a
Russian-invested bus assembly project capitalising at 1 billion USD in
the Binh Dinh Economic Zone, attributing it to the authorities’ active
investment promotion programmes conducted in and outside the country.

The
project, invested by Russia’s Buscenter Met Co., Ltd, will see the
construction of a factory to manufacture and assemble bus spare parts
and provide supportive services.

It has brought the number of FDI
projects licensed in the province’s economic and industrial zones to 20
with a total registered capital of 1.6 billion USD, and investors
mainly from China, Thailand, the US, Japan and Malaysia operating in
animal feed production, farm product and seafood processing,
construction materials, plastics, textiles, and tourism.

Large-scale projects have mostly focused in the Nhon Hoi Economic Zone,
where the local authorities have planned to develop an oil refinery and
petrochemical complex at an estimated cost of 28.7 billion USD and are
calling for investment for it.

The provincial authorities have
set to speed up the development of support industries to attract more
FDI projects with vast social and economic effects.

They have
pledged to create the most possible conditions for investors to the oil
refinery and petrochemical complex in the Nhon Hoi Economic Zone,
prioritising the building of the Nhon Hoi port and a water supply system
there.

The province will accelerate the construction of a
transport system linking economic and industrial zones as well as
housings for employees at these zones, and coordinate with businesses in
training quality human resources at market needs.

Binh Dinh has
also thought of possibilities of recruiting trained workforce from other
localities to work at its economic and industrial zones.

In order to prepare for hi-tech and larger projects, the coastal
province will improve the market research quality, diversify investment
promotion activities as well as mobilise resources to accomplish
technical and social infrastructure.-VNA

By vivian