Binh Dinh province courts fresh sources of FDI  

Vietnam’s central coastal province of Binh Dinh held an investment promotion in Germany in April, and plans to hold similar events in the U.S., Japan, South Korea, Australia, Israel, and India later this year.

At the event in Germany from April 15-21, provincial leaders held meetings with major businesses and organizations, including energy giant PNE AG, thin film technology company Kurz, the Association of German Chambers of Industry and Commerce (IHK), and the German Chambers of Commerce Abroad (AHK).

Andreas Hirschfelder, CEO of Kurz, said he had surveyed about 20 locations in Vietnam and decided to invest in Binh Dinh thanks to the provincial authorities’ enthusiasm and support for the firm, the prime location of the factory, and infrastructure.

Kurz is implementing its thin film factory project there, with an investment of $40 million. It is expected to be completed and enter operation in the third quarter of this year, with an annual capacity of 15 million square meters of products.

Markus Lesser, CEO of PNE AG, said the firm is interested in Binh Dinh given the province’s wind power potential, geographical advantages, simple investment procedures, and the hospitality of local people.

PNE’s proposed offshore wind power project has a capacity of 2,000 MW and an investment of $4.6 billion. In 2020, Binh Dinh gave an in-principal nod to PNE to survey and research wind potential at sea.

“We appreciate the determination and enthusiasm of Binh Dinh province and firmly believe that the project will soon be approved and deployed,” Lesser said.

Bjoern Koslowski, deputy chief representative of AHK Vietnam, said he would invite more businesses from the AHK and Germany to Binh Dinh as the central coastal province boasts many advantages, including an airport, deep-water seaport, local government support, and streamlined procedures.

In the second quarter of this year, Binh Dinh will conduct investment promotions in the U.S. and Japan, focusing on the industry, forestry, manufacturing, processing, trade, labor, healthcare, and education sectors.

In the third quarter, the province is set to hold similar events in South Korea, Australia, and Israel, with a focus on education, services, tourism, healthcare, industry, trade, high technology, electronics, agricultural products, and food processing.

In the last quarter, Binh Dinh will promote investments from India, especially in the fields of IT, processing, pharmaceuticals, and biotechnology.

The province currently has 86 valid FDI projects with total registered capital of $1.13 billion.