The Binh Dinh provincial Investment Promotion Conference was held on March 29 with the presence of Deputy Prime Minister Tran Luu Quang and leaders of ministries, branches and localities, as well as representatives of 500 businesses.

The conference also included six billionaires from Thailand, South Korea, Singapore and the UAE.

Bader Almatrooshi, UAE’s Ambassador to Vietnam, commented that Vietnam has performed well by attracting $500 billion worth of accumulated FDI capital. He said Vietnam’s high growth rates have prompted countries, including UAE, to seek investment opportunities in Vietnam.

“Many Vietnam and UAE businesses have discussed cooperation,” he said.

Cyril Dissescou, CEO of Nexif Ratch Energy SE Asia Pte, noted that Binh Dinh is located in an advantageous position, while local authorities are pursuing policies to encourage economic development by industrializing production with sufficient infrastructure and a qualified workforce.

The rapid expansion of Industrial Zones and clusters of IZs will lead to a rapid increase in demand for electricity, especially from renewables.

It is expected that 143 MW of onshore wind power will be installed in BinhDinh by 2030, after the eighth national power development plan (Plan 8) was approved, which gives a great opportunity to renewable developers such as Nexif Ratch Energy to expand its business in the province.

The four projects granted licenses at the event included one on producing, processing forestry and farm produce, developed by Vina Nutifood Binh Dinh (VND496 billion); seafood processing project by NSF Group (VND225 billion); Ca Mau Fertilizer Plant, Binh Dinh Branch by Ca Mau Fertilizer Oil and Gas JSC (VND120 billion); and the 110KV Cat Nhon Transformer Stations and 110kv transmission line by the Central Region Power Company (VND218 billion).

The Binh Dinh provincial People’s Committee also granted MOUs on studying and researching 17 projects in four business fields, namely industrial and agricultural production; IT; human resource development; trade, tourism and investment service development.

There are also 10 projects from Thailand’s Bangkok Assay Office in agricultural and industrial production, including logistics service center; area for research, training, and production of technology, software, and AI; fast-charging battery manufacturing factory; cosmetics production; container production; agriculture, plant varieties and land improvement; education-training-medical establishments; AI application in the healthcare sector; facilities for treating critically ill patients; and treating seawater into fresh water.

The other projects are in the fields of green growth, wind power, and food processing. Hanoi Telecom JSC has received approval for a VND125 billion project for a Big Data Center.

Diem Phuc