Binh Dinh province works to attract investment from Japan

Chairman of the provincial People’s Committee Pham Anh Tuan said Binh Dinh views the Japanese market and partners as of having great potential. Therefore, it has been working hard to not only attract investment from Japanese enterprises but also strengthen cooperation with Japanese localities and partners so as to make use of their resources, particularly capital, machinery, and scientific - technological advances, to support local socio-economic development.

He assigned the provincial Department of Foreign Affairs to monitor the implementation of cooperation activities, and continue discussing with the friendship association of Sakai as well as related units and localities to work out practical programmes and activities for each year.

The two sides are set to coordinate in introducing Binh Dinh’s potential, advantages, and investment opportunities to Japanese companies, investors, and partners, assisting investors from Sakai to survey and seek investment and business chances in Binh Dinh; and helping the two sides’ enterprises to access each other’s markets.

Binh Dinh currently houses 19 investment projects worth US$96.67 million from Japan. They operate in such fields as afforestation, apparel, wood and aquatic product processing, and renewable energy.

In the first 11 months of 2024, the province exported nearly US$263.5 million worth of goods to Japan, equivalent to 121.17% of the figure recorded in the same period last year. Main exports included cassava and related products, ores and other minerals, timber, aquatic products, and apparel.

Binh Dinh has signed three local-level cooperation agreements with Japan, namely the deal between the Binh Dinh People’s Committee and the administration of Izumisano city of Osaka prefecture, another between the People’s Committee of Vinh Thanh district and the administration of Yoshino town of Nara prefecture, and the one between the People’s Committee of Quy Nhon city and the administration of Ashikaga city of Tochigi prefecture.