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Binh Duong looks to boost investment bonds with Canadian locality
The southern province of Binh Duong wishes to strengthen cooperation with and attract more investment from Laval city in Canada’s Quebec region, as well as Canadian businesses, said Vice Chairman of the provincial People’s Committee Mai Hung Dung.
During an investment promotion conference with representatives from Laval city on Monday in Binh Duong, Dung said the province was calling on investment in high-tech, less labour-intensive and environmentally friendly industries and those that create high economic value such as financial services, logistics, supporting industry, and high-tech agriculture.
Bonnet Huor, Deputy Director of the Department of Economic Development at the Mayor's Office of Laval, Quebec, said that he was impressed by the technology and innovation platform-based development of the Vietnamese locality with a strategic vision towards the future.
Laval, the third largest city in Quebec, is a potential area with a vibrant investment environment in Canada. Bonnet Huor said the region was seeking opportunities to promote long-term cooperation in Binh Duong.
In the first two months of 2023, Binh Duong attracted more than US$340 million in foreign direct investment (FDI), equaling over 441 per cent compared to the same period in 2022.
Data from the provincial Department of Planning and Investment, Binh Duong ranks second in the country in terms of attracting FDI with 4,092 valid projects worth nearly $40 billion, accounting for 9 per cent of the total foreign investment capital of the country.
Canada is the 14th largest foreign investor in Viet Nam with 244 projects worth $4.8 billion. It ranks 25th among 65 countries and territories investing in Binh Duong with 23 projects with a total investment of $86 million.
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