VIETNAMESE PROVINCE SEEKS FOREIGN INVESTORS FOR MAJOR PROJECTS

The central Vietnamese province of Binh Dinh has proposed two large projects to be added to the list of those calling for foreign direct investment (FDI) in a recent report sent to the Ministry of Planning and Investment, the Vietnam News Agency (VNA) reported late on August 22, 2020.

One is an automobile plant project with a capacity ranging from 30,000 units to 50,000 units per year, covering 50 hectares in Becamex – Binh Dinh Industrial Urban and Service Complex. The project is expected to need an investment of $250 million.

Mitsubishi Motors Vietnam is looking for an appropriate destination for its second plant in Vietnam with an investment of about $250 million. At a working session with Binh Dinh authorities in June, Mitsubishi Motors Vietnam’s general director Kenichi Horinouchi said the south-central coastal province was among the company’s top choices thanks to the developed transport and technical infrastructure system coupled with a huge clean land fund which was favorable for building automobile component plants.

The second project is a 300-bed hospital in Nhon Hoi Economic Zone which would cover an area of 3.5 hectares and have total investment of $15 million. The previous list of projects seeking investment in Binh Dinh included four but two of them, a $24 million hospital and a $4 billion thermo-electricity center are no longer seeking investment as they are no longer appropriate to the province’s development planning. The other two projects, including Cat Nhon solid waste treatment project with an estimated investment of $75 million and a road upgrade project worth around $100 million, have found investors.