Becamex, India industry confederation sign cooperation agreement
Becamex IDC and the Confederation of Indian Industry (CII) have signed an agreement on partnership in the areas of IT, medical care, electronics, sustainable development and innovation.
The two sides signed the deal Monday at the 2022 Horasis India Meeting in Binh Duong province.
Becamex is a leading industrial property developer in Vietnam while CII is an organization with 9,000 official members.
Becamex board chairman Nguyen Van Hung said the collaboration aims to leverage each other's strengths to cash in on the global production shift.
He said Becamex is pushing up the construction of a sustainable, innovative, and smart industrial ecosystem in Binh Duong province.
Deputy Prime Minister Vu Duc Dam (middle) attends the signing ceremony of an agreement between Becamex IDC and CII in Binh Duong province on September 26, 2022. Photo courtesy of Becamex IDC.
Becamex IDC is the Vietnamese partner in the VSIP joint venture with Singapore’s Sembcorp Industries, which develops 11 industrial parks across the country.
Becamex, listed on the Ho Chi Minh City Stock Exchange as BCM, recorded an after-tax profit of VND1,370 billion ($58.67 million) in the first half of 2022, up 40% year-on-year.
Binh Duong, a southern industrial hub, has so far attracted $39.6 billion in registered capital from 4,069 foreign direct investment projects. India accounts for 10 projects worth $116 million.
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