Deputy Prime Minister Vu Duc Dam (5th from left) attends the opening ceremony of the WTA 2018 conference. (Photo: baodautu.vn)

Binh Duong has been increasing bilateral and multilateral cooperation to sustainably develop the local economy and implement the “Binh Duong, a smart city” project and the “Binh Duong Navigator 2021” breakthrough strategy.

Last year Binh Duong became the first locality in Vietnam honored for having an outstanding strategy on smart city development.

It has an open and attractive investment environment supported by provincial authorities and focuses on external relations activities to maintain its dynamic position in the integration process.

Two highlights of Binh Duong’s external relations last year were successfully hosting the World Technopolis Association conference and the Asian Economic Cooperation Forum (Horasis-Asia Meeting) which gathered more than 350 economic groups, multinational companies, and major enterprises from 60 countries and territories.

“These are special events in Binh Duong’s socio-economic development, promising practical opportunities to discuss experience and multi-dimensional viewpoints on new ways of doing business, and advanced development models, thus helping to handle the issues and corollaries of the industrialization and urbanization," said Tran Thanh Liem, Chairman of the provincial People’s Committee.

"More particularly, through such events Binh Duong hopes to find solutions to re-allocate its development sources toward ensuring that the local economy grows dynamically, easily responds, is ready for integration, and realizes the target of making Binh Duong a smart urban area,” her added.

Binh Duong ranks 3rd in Vietnam after Ho Chi Minh City and Hanoi in attracting foreign investment. It has more than 3,600 projects with nearly 33 billion USD of registered investment capital. In the first half of this year, Binh Duong attracted nearly 1.5 billion USD in FDI capital, 70% more than in the same period last year and 3.5% above the target set for this year.

The Asian Economic Cooperation Forum (Horasis) is a good opportunity for Binh Duong to promote its investment potential. In the photo, representatives of the government, Binh Duong province, and international delegates attend the opening ceremony of HORASIS 2018. (Photo: B.S/tuoitre.vn)

“Binh Duong has attracted investment in processing, manufacturing, and services, with a particular focus on advanced technology. We particularly welcome major enterprises with less environmental pollution," said Trinh Thanh Long, Deputy Director of the provincial Planning and Investment Department.

"FDI investment in manufacturing accounts for 1.5 billion of the total 2 billion USD.  Logistics projects have attracted 135 million USD and urban development projects 48 million USD. Cloud computing-based projects have attracted 171 million USD.”

Binh Duong has signed 10 foreign cooperation agreements so far this year.

Conferences on trade promotion and investment cooperation have been held in potential markets like Japan, South Korea, Singapore, Italy, Belgium, Netherlands, the US, and Canada.

Dialogues have been organized between Binh Duong’s leaders and foreign business associations and foreign companies operating in Vietnam.

Continuing to expand external relations to serve economic development is one of the tasks set for Binh Duong’s development orientation in the new period. The image of a dynamic Binh Duong has been attracting foreign investors, making it a key industrial province in Vietnam.

In late November, Binh Duong will again host the Asian Economic Cooperation Forum (Horasis-Binh Duong 2019), bringing together about 400 foreign delegates from 60 countries and 350 delegates from Vietnam’s central agencies, ministries, and localities.