On March 19, 2024, in Binh Duong, a delegation of over 40 German enterprises and investors, led by GBA Chairman Mr. Alexander Ziehe and Executive Director Ms. Quynh Anh Le, held constructive talks with the Vice-Chairman of the Binh Duong Provincial People’s Committee and departmental heads. The discussions centered on boosting foreign direct investment (FDI) and reinforcing Binh Duong’s position as a competitive business hub.
GBA Chairman Mr. Alexander Ziehe spoke on behalf of 400 German business members
Despite Germany’s 18 active investment projects in Binh Duong, valued at USD 50.7 million, there’s room for growth, representing a mere 0.4% of FDI projects and 0.1% of total registered capital in the region. Chairman Ziehe highlighted that with nearly 400 members, the GBA sees Binh Duong as a key investment destination, following Ho Chi Minh City and Hanoi.
He also added that the German Business Association recognizes the ongoing imperative to advance Binh Duong’s competitive stance. This is essential to draw increased foreign direct investment and to avert the diversion of projects to other global or local destinations. The GBA identifies several critical areas for immediate attention:
1/ Infrastructure: Tackle traffic and port congestion, expedite repairs, and bolster airport operations and immigration procedures. Promote eco-friendly initiatives like waste management and solar energy through streamlined approval processes.
2/ Communication and Transparency: Enhance policy timelines and communication to minimize business interruptions. Offer clear, bilingual guidelines, provide advance notice of changes, and introduce transition periods.
3/ Digitalization: Transition to digital administrative tasks, particularly in customs, HR, and licensing, with digital tokens, AI signatures, and document verification. Adopt online tracking to boost productivity and eco-friendliness.
4/ Foreign Labor: Support liberal immigration policies for foreign professionals to build diverse teams and improve local talent development. Lengthen work permit durations and ease renewal documentation.
Vice Chairman Mr. Nguyen Loc Ha conveyed Binh Duong’s commitment
Vice Chairman Mr. Nguyen Loc Ha conveyed Binh Duong’s commitment to revamping its industrial landscape, transforming traditional industrial parks into smart ones, fostering supporting industries, and constructing a comprehensive regional transport network. The province is keen on attracting FDI for sustainable practices, focusing on renewable energy, a green economy, and a circular economy.
The meeting was a productive one, enabling direct dialogue between GBA members and local officials, which led to the swift resolution of key issues. Such exchanges are vital in strengthening international economic ties and establishing Vietnam as a leading destination for investment and a competitive player in the Asian market.
To conclude, Chairman Ziehe expressed gratitude to the Binh Duong Provincial People’s Committee and the Investment Promotion Center – South Vietnam (IPCS) for their support in these collaborative efforts. Together, the GBA is dedicated to ensuring the success of this partnership.
The meeting was attended by leaders from various provincial departments of Binh Duong, including Planning and Investment, Industry and Trade, Foreign Affairs, Construction, Science and Technology, Health, the Provincial Industrial Park Management Board, the Department of Taxation, the Customs Department, the Department of Agriculture and Rural Development, Transportation, the Center for Trade Promotion and Industrial Development of Binh Duong Province, the Provincial Police, the Binh Duong Electricity Company, the Investment and Industrial Development Corporation (Becamex IDC Corp), the Vietnam – Singapore Industrial Park Joint Venture Company Limited.
‣ Find the full speech of the GBA Chairman including comprehensive proposals for the Binh Duong’s authority here>>> (in English and Vietnamese)
‣ Find the opening remarks here>>> and closing speech here>>> of leader of the Binh Duong Provincial People’s Committee (in English and Vietnamese)
‣ Learn more about the Socio-Economic Development Situation of Binh Duong in 2023 here>>> (in English and Vietnamese)
‣ Click here>>> for full photo album
