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(Photo: VOV)

Binh Dinh has proposed two large projects to be added to the list of those calling for foreign direct investment (FDI), according to VOV.

One is an automobile plant project with a capacity of 30,000-50,000 units per year, covering 50 hectares in Becamex - Binh Dinh Industrial, Urban and Service Complex. Mitsubishi Motors Vietnam is looking for an appropriate destination for its second plant in Vietnam with an investment of about USD 250 million.

At a working session with Binh Dinh authorities in June, Mitsubishi Motors Vietnam's general director Kenichi Horinouchi said that 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. Chairman of the provincial People's Committee Ho Quoc Dung said that he expected Mitsubishi Motors would invest in the province, pledging favorable policies for foreign investors, especially the automobile plant.

(Photo: Investment News)

Dung said that the province was speeding up administrative reforms and improving the investment climate, which together with the availability of clean land would create favorable conditions for foreign investors. The second project is a 300-bed hospital in Nhon Hoi Economic Zone which would cover an area of 3.5 hectares and have a total investment of USD 15 million.

The Chairman of Binh Dinh People's Committee pledged that the province would have an attractive mechanism and policy for Mitsubishi Motors Vietnam when the company builds a care assembly plant in Becamex industrial park, reported by Investment News. The other two projects, including Cat Nhon solid waste treatment project with an estimated investment of USD 75 million and a road upgrade project worth around USD 100 million found investors.

According to the provincial Economic Zone (EZ) Management Board, Nhon Hoi EZ and other industrial zones (IZs) in the province attracted 33 FDI projects as of February, worth USD 506 million in registered capital. Twelve countries and territories have invested in EZs and IZs in the province with China, Singapore and Japan being the largest investors. Statistics from the Ministry and Planning and Investment showed that Binh Dinh attracted more than USD 2.3 million FDI in January - July, with two new projects and one existing project raising its registered capital.

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