In the last months of 2024, foreign investors flocked to southern provinces and cities to promote investment and propose projects.
Bustling investment promotion
A few days ago, more than 40 German businesses came to Dong Nai to explore investment opportunities in this locality. Mr. Alexander Ziehe, Chairman of the Association of German Enterprises in Vietnam, commented: “I am very impressed with the open and professional environment that Dong Nai is building for the foreign business community, including German businesses.”
Since the beginning of the year, the leaders of Dong Nai Provincial People’s Committee have continuously welcomed representatives of business associations from Korea, Japan, India, etc. to learn about and survey the investment environment. Many corporations have even come directly to survey and propose projects.
Specifically, Harbor Star Engineering Global Group (Korea) wishes to invest in urban, commercial, service, entertainment and logistics projects around Long Thanh airport area. Aeon Mall Group (Japan) promotes investment in a commercial center project in Bien Hoa city, with a scale of nearly 12 hectares and a total investment of more than 6,000 billion VND. Some large US corporations such as Coherent Group propose to invest in 3 high-tech projects in the fields of advanced optics, measurement and semiconductor manufacturing. TWG Group proposes to invest in smart urban areas.
Meanwhile, in Binh Duong, since the beginning of the year, a series of investors have met with the leaders of the provincial People's Committee to propose projects or announce that they will expand their investment in the locality. Most recently, on November 7, at a meeting with the leaders of Binh Duong province, Mr. Yeh Ming Yuh, General Director of Polytex Far Eastern Vietnam Co., Ltd., announced a plan to expand investment in Binh Duong to increase the total capital to 1.54 billion USD in this locality.
In addition, many large corporations have come to Binh Duong to propose investment projects such as Warburg Pincus Group (USA) proposed to invest in the Cross-border E-commerce Center Project; AP Moller Maersk Group (Denmark) wishes to invest in a large-scale logistics center. In the high-tech field, Tokyu Group of Japan is researching and surveying locations to invest in semiconductor technology in Binh Duong.
Among the southern localities, Ho Chi Minh City has received investment attention from many high-tech giants. In particular, NVIDIA Corporation (USA) has continuously sent delegations to survey locations to establish a Research, Development and Training Center on Artificial Intelligence (AI); looking for locations to transfer part of the production of image processing units (GPUs) for supercomputers.
A series of other US giants also sent investment project proposals to the Ho Chi Minh City People's Committee, such as Smart Tech Group proposing to invest in a battery factory to store electricity with capital from 340 to 850 million USD; Eaton Group, Evolution Group (under Warburg Pincus Investment Fund) proposing to invest in a data center at the City's High-Tech Park.
Localities proactively seek investment
In the last months of 2024, some southern localities have proactively promoted and invited businesses in the markets that the localities desire. Recently, the Ho Chi Minh City People's Committee organized investment promotion in the United States with a series of agreements and memorandums of understanding signed between the City's units and US partners.
In response to Ho Chi Minh City’s investment invitation, in mid-November 2024, a delegation of leading US investment funds will come to the city to hold a conference to share IPO experiences and contribute ideas to build a financial center here. By early 2025, more than 30 US businesses will continue to come to Ho Chi Minh City to implement signed agreements.
Similarly, Long An province is also proactively promoting trade and investment in Europe from November 11 to 21, 2024. Provincial leaders will work with large corporations such as Sotelanche Freysinet Group (France); meet and work with leaders of leading corporations in France, Belgium and Germany in the fields of transportation, energy, industry, etc. The province's investment promotion delegation will attend the Vietnam Capital Dialogue Program in Frankfurt (Germany) to connect with European businesses investing in green transformation projects in the Vietnamese market.
Previously, Binh Duong and Dong Nai provinces also organized a series of investment promotion events in markets considered by the localities to be key markets such as Japan, Korea, China, etc. The flexibility and initiative in investment promotion has brought about clear results when investors met with local leaders and came to the localities to propose specific projects.
“It is the proactive research into investors' needs that has helped Binh Duong come up with a suitable list of investment projects, so investment promotion is very effective,” emphasized Mr. Mai Hung Dung, Vice Chairman of Binh Duong Provincial People's Committee.
Source: https://baodautu.vn/nha-dau-tu-nuoc-ngoai-don-dap-de-xuat-du-an-vao-phia-nam-d230405.html
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