The province always places the people and businesses at the centre, and facilitates the development of enterprises, especially manufacturing enterprises.

Accelerating administrative reform

Binh Dinh currently has 15 industrial parks covering a total area of 7,000 hectares. Of which, seven industrial parks covering 2,850 hectares have been put into operation, while three industrial parks of 700 hectares are seeking the Prime Minister’s approval. The province is also planning another five industrial parks with a total area of 3,400 hectares.

In addition to industrial parks, Binh Dinh is home to the Nhon Hoi Economic Zone with an area of 14,300 hectares, including three out of the 15 abovementioned industrial parks. To date the Nhon Hoi Economic Zone and industrial parks have attracted over 400 projects worth 150 trillion VND (over 6 billion USD). Among them 41 are foreign-invested projects worth nearly 1 billion USD, accounting for about 85% of total foreign direct investment in Binh Dinh.

Cao Thanh Thuong, Deputy Head of the Binh Dinh Economic Zone Administration, said those investing in the Nhon Hoi Economic Zone and industrial parks all enjoy the country’s and the province’s highest investment incentives.

With the view of constantly improving its business and investment climate so that Binh Dinh will become an ideal destination for both domestic and foreign investors, the province has taken bold actions to reform administrative procedures, simplify investment procedures, and build and improve the relationship between the government and investors and enterprises.

The time for handling procedures, from investment licensing to project construction in industrial parks has been reduced significantly. Investors will have their concerns addressed quickly to facilitate the success of their projects and sustainable development.

Recently, with the guiding principle that economic development must be aligned with environmental protection, industrial parks have taken measures to ensure the harmony between economic benefits and the environment. The economic zone administration has prioritised the selection of green investors with advanced technology so as to build truly green and modern industrial parks.

Standing by investors

According to Douglas Balko, Director of Governance and Economic Growth at USAID Vietnam, the provincial competitiveness index (PCI) is not only a tool of measurement and assessment, but also a catalyst for change, helping to promote reform and enhance environmental sustainability and economic resilience.

With a strategic location in the south central coastal region, Binh Dinh has taken advantage of its geo-economic location to become an important gateway for investment, trade, tourism and green economic development. The province’s diverse economy, with main pillars in industry, agriculture, tourism, services and the marine economy, has demonstrated its commitment to balanced and sustainable growth.

In recent times, Binh Dinh has paid a special attention to administrative reform with the goal of accelerating the reform process and fulfil socio-economic development targets. The province is taking bold steps to improve its investment climate and remove the difficulties facing enterprises regarding investment, production and business activities.

In the spirit of creating a favourable investment climate, the province issued a mechanism on coordination in handling administrative procedures for investment, construction, land, the environment and fire protection. The issuance of the mechanism will help investors easily understand the implementation order of procedures and reduce the time for handling procedures.

Binh Dinh Vice Chairman Lam Hai Giang shared that to achieve such results, Binh Dinh has made a great deal of efforts in administrative reform, especially in the field of investment and business.

This is a transformation step that reflects the province’s determination to facilitate investors and promptly address the obstacles arising from administrative procedures. In addition to administrative procedure reform, Binh Dinh also pays attention to green and sustainable economic growth, achieving the goal of harmony between economic development, ensuring social security and environmental protection.