A delegation from the central province of Binh Dinh introduced local economic and tourism potential and sought ways to boost trade and investment ties with US businesses during a working trip to the US from October 12 to 23.

Vice Chairman of the Binh Dinh provincial People’s Committee Phan Cao Thang(standing)
speaks at the investment promotion conference in Virginia on October 22 

At an investment promotion conference in Virginia on October 22, Vice Chairman of the provincial People’s Committee Phan Cao Thang highlighted Binh Dinh’s potential and strengths for US firms to invest in, including electronic component manufacturing, automobile supporting industry, seaport infrastructure, industrial park infrastructure, energy, tourism, forestry, and wooden products.

Home to Quy Nhon International Seaport, Binh Dinh is the nearest gateway to the East Sea for the Mekong sub-region. It also boasts favourable transport infrastructure by road, rail and air.

The province, part of the central key economic region of Vietnam, has an abundant workforce with low labour cost and good skills. Nine industrial parks and 63 industrial clusters have been developed there so far, and Binh Dinh is building the Nhon Hoi Economic Zone covering over 14,500ha into a development engine for the province, according to Thang.

He also underlined his locality’s potential for becoming a tourism hub in the coastal central region of Vietnam.

The official said the local administration will create the best possible conditions for enterprises to seek investment and business partnerships, and will support them during the investment process.

At the conference, US businesses showed their interest in some fields and the investment policies in Binh Dinh.

Marc Mealy, Senior Vice President for Policy at the US-ASEAN Business Council (USABC), said for the council’s members, Vietnam is an attractive investment destination due to its optimal investment climate. 

He also highly valued the potential, strengths and investment environment in Binh Dinh, adding that he and US enterprises are looking at the province’s advantages in wooden product manufacturing and export.

Mealy said he will help promote connectivity between Binh Dinh’s wooden product manufacturers and US firms in the states of North Carolina and Massachusetts.

During the visit, companies from Binh Dinh also exhibited wooden and furniture products at High Point Market, the US’s leading home furnishings industry trade show, in North Carolina. The delegation also had a working session with the 3M Group to attract investment in the hi-tech industry.