Binh Dinh Province makes breakthrough in investment attraction

Binh Dinh Province recorded impressive growth in investment attraction in Q1-2025, with sharp increases in FDI and industrial infrastructure projects compared to the same period last year

In Q1-2025, Binh Dinh Province continued to strengthen its investment promotion and attraction efforts, yielding impressive results. Notably, in March, the province organized the 2025 Binh Dinh Investment Promotion Conference with the participation of Government leaders, authorities from ministries and agencies, and a large number of domestic and foreign investors. The event helped affirm the province’s economic potential and its strong determination for development.

Since the beginning of the year, the province has attracted 31 new investment projects with total registered capital exceeding VND12.195 trillion, including 27 domestic projects and 4 foreign direct investment (FDI) projects. The total registered capital of the 4 FDI projects reached approximately US$23 million. Compared to the same period last year, the number of projects increased by 138.5 percent, and the total registered capital rose by 502.6 percent. In Q1-2025, 29 projects increased their capital by a total of more than VND2.213 trillion. These figures reflect the growing appeal of Binh Dinh Province to investors.

One of the notable projects recently approved is by Danish investor Michael John Grosboel, with a total investment of over VND1.290 trillion. The project will be implemented in Becamex Binh Dinh Industrial Park, located in Nhon Hoi Economic Zone, Van Canh District.

Specifically, on April 8, the Binh Dinh provincial Economic Zone Authority granted an investment certificate for a high-quality garment manufacturing project, which includes a garment production and processing facility, a warehousing complex, and a quality control center for raw materials and accessories. The project will have a production capacity of 5 million products per year, with estimated annual revenue of US$51.3 million. The warehouse and quality control center will cover 16,000sq.m, generating about US$2.4 million in annual revenue. The project will also engage in import-export and technical analysis activities to generate US$400,000 and US$2 million in annual revenue, respectively.

In addition, several other large-scale projects have also been approved recently. These include Phase 1 of the Phu My Industrial Park Infrastructure Construction and Business Project, with total registered investment capital of more than VND4.569 trillion; and the Expansion Project of Hoa Sen Nhon Hoi - Binh Dinh Steel Plant, with total registered capital of VND2.333 trillion.

Business registration activities have seen positive changes. In Q1-2025, 309 new enterprises were granted business registration certificates, with total registered capital of more than VND3.378 trillion, an increase of 11.2 percent in number of enterprises and 89.3 percent in registered capital. Additionally, 211 dependent units, including branches, representative offices, and business locations, were granted certificates of operation. These results reflect the proactive and determined efforts of the provincial authorities, as well as the business community and residents, to achieve socioeconomic development goals from the very beginning of 2025.