Binh Duong calls for investment from German investors

Addressing the event, Director of the provincial Department of External Relations Le Phu Hoa said that through the conference, Binh Duong hopes to strengthen the connections between local firms and their German peers, especially in trade, investment and services.

Binh Duong calls for investment from German firms in the fields of automobile mechanics, electronic technology, supporting industries for automobile mechanics, electronics, and high-tech agriculture, he said.

Over the years, Binh Duong has been a favourite destination for both domestic and foreign investors. So far this year, the province attracted 1.6 billion USD in FDI, 3.6 times higher than that in the same period last year. Recently, the province has granted 22 investment licences to enterprises, including LEGO Group from Denmark with a project worth over 1 billion USD, Hoa noted.

He added that in four consecutive years from 2019 to 2022, Binh Duong has been one of the 21 leading localities and areas with outstanding smart city development strategy in the world selected by the World Smart Community Forum (ICF). This is a good ecosystem for German firms to increase investment in Vietnam and Binh Duong in particular, he held.

At the conference, German experts analysed the socio-economic characteristics and COVID-19 control outcomes of Vietnam, providing more information for German firms to access the market of Vietnam and Binh Duong.

Ludwig Graf Westarp from the Federal Association of Small and Medium-Sized Enterprises (BVMW) expressed special interest in the investment environment in Vietnam and Binh Duong. He highlighted the province’s convenient transport conditions that meet German investors’ demands.

Some German enterprises highlighted the efficiency of German-invested projects in Binh Duong.