Breakthroughs in investment attraction

VEN

Since the beginning of this year, Binh Dinh Province has attracted 22 investment projects with total registered capital of over US$1 billion.

The groundbreaking ceremony for Hai Giang tourist site project

Flourishing projects

In late March, Binh Dinh Province and Vingroup organized a groundbreaking ceremony to begin the construction of the 656.25ha Hai Giang Tourist Site with total investment of nearly VND3.5 trillion. The construction of a number of other projects has also begun. Examples include the flashlight system catering to night flights at the Phu Cat Airport, (VND42.8 billion), the expansion and upgrade of a 1,669m National Highway 1D section from the Phu Tai crossroads to the Long Van crossroads in the city of Quy Nhon (VND222 billion), and the expansion of a National Highway 1A section from Binh Dinh to Phu Yen (over VND2.04 trillion). In mid April, the management board of Binh Dinh’s economic zones granted an investment certificate to the Buscenter Met Company Limited (Russia), allowing it to establish the BUS Industrial Center Company Limited in Vietnam with investment of US$1 billion - this project will start within this year.

Notably, the Prime Minister has given the green light to an oil refinery and petrochemical project based in the Nhon Hoi Economic Zone. This is the first project of its kind in Vietnam, which will be built on an area of 2,000ha with total investment amounting to US$26.9 billion, designed to refine 660,000 barrels of crude oil per day or 30 million tonnes per year. Crude oil for the plant will be imported from the Middle East, Africa, South and Central America. When it comes into operation, the plant will produce 11 refined oil products and 10 other petrochemical products.

Binh Dinh Province People’s Committee Chairman Le Huu Loc said the project was accepted thanks to the province’s efforts and the support of concerned authorities, especially the Ministry of Industry and Trade. Based on the opinions of other ministries and sectors concerned, the Ministry of Industry and Trade has requested the Prime Minister to accept the project and allow it to be implemented under the Oil and Gas Development Plan to 2015 with a vision towards 2025.

Flexible policies

To achieve good investment attraction results, Binh Dinh Province is committed to creating favorable conditions and an open environment for investors to carry out their projects, making Binh Dinh an ideal destination for investors. The province has promoted the attraction of domestic and foreign investment, paying special attention to popularizing its image in a new manner. Based on general regulations applied to all localities nationwide, Binh Dinh has taken the initiative in promulgating some specific policies of its own to attract talented people and provide investors with assistance in fields such as worker training, trade promotion, trademark building, infrastructure construction in industrial zones and environmental pollution treatment. The province’s leaders meet investors on a regular basis to deal with their difficulties.

 

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