Binh Dinh woos Taiwan investors

 At a meeting in HCMC with about 100 Taiwanese firms operating in Vietnam over the weekend, Ho Quoc Dung, chairman of Binh Dinh, said that Taiwan has big corporations in the areas where the province needs investment, including road, port, airport, electricity, high-tech, finance and banking.

In addition, the province called for Taiwanese companies to invest in trading and services; tourism; assembly and production of machines, auto parts, motorcycles, bicycles and industrial equipment; food processing; electronics and telecommunications; and medical equipment.

Dung said that compared to other provinces, Binh Dinh has huge land resources for industrial production and developed infrastructure for enterprises in electricity, water, waste treatment, and telecommunications. The province has streamlined licensing procedures for investors.

The province applies low land rent and supports investors to train local workers. The province’s leaders are ready to solve problems faced by investors, Dung said at the meeting, which was jointly organized by Binh Dinh, the Bank for Investment and Development of Vietnam (BIDV) and the Taipei Economic and Cultural Office (TECO) in HCMC.

A representative of the Taiwan Business Association in HCMC said Binh Dinh has a favorable location for transportation to the south and the north. However, the province should learn how to attract investors as Dong Nai, Binh Duong and HCMC have done by developing roads and industrial infrastructure since Taiwanese investors prefer sites with good infrastructure.

According to the Taiwan Business Association in Dong Nai Province, a majority of Taiwanese enterprises are small and medium and they often follow in the footsteps of large firms. Therefore, the province was asked to take this into account and find ways to attract major Taiwan investors.

For Taiwan companies, stable supply of local workers is an important part of their investment decisions.

Replying to these concerns, Dung said Binh Dinh’s infrastructure has been improved with new roads, railways and air routes in place to meet travel demands of business and leisure travelers. Binh Dinh is home to the country’s third largest seaport system which facilitates cargo transport between the province and other parts of the world.

Dung said Binh Dinh has over 900,000 people of working age, more than 50% of them skilled workers. In addition, new living and entertainment facilities, including resorts and hotels, can meet the demand of investors and tourists.

According to TECO in HCMC, Vietnam is one of the strategic destinations for Taiwanese investors. Taiwanese firms have mainly invested in southern provinces but a number of them are expected to come to gauge the investment environment in Binh Dinh after the meeting.

By the end of May, Taiwan had got involved in nearly 2,530 projects in Vietnam with total registered capital of over US$31.8 billion. ANT animal feed factory worth US$3 million is the only Taiwanese-invested project in Binh Dinh.