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Viet Nam
Industrial Park Situation
Text by Saito Hiroshi
The 27th: Binh Dinh Province – A Province Eager to Attract Foreign Direct Investment (FDI)
When manufacturing companies expand into Vietnam, choosing the right industrial zone is a crucial point. Some provinces are actively working to attract foreign direct investment (FDI). Following the previous discussion on Hà Nam Province, this time we will introduce the situation in Bình Định Province in central-southern Vietnam. Bình Định Province has seen significant investments in industries such as food processing, feed production, wood processing, furniture production, and garment manufacturing. Additionally, due to the presence of quarries, there has also been an influx in the stone processing industry, including gravestones and tiles.
Location / Area / Population
Binh Dinh Province is located in central-southern Vietnam, with its eastern side bordering the South China Sea. The provincial capital is Quy Nhơn, which is famous for its seafood sourced from the nearby waters. The province covers an area of 6,067 square kilometers and has a population of approximately 1.55 million, with a labor force participation rate of 55%.
ndustrial Zones in Bình Định Province
Currently, there are 8 industrial zones in Bình Định Province:
1. Phu Thai Industrial Park,
2. Long My Industrial Park,
3. Nhon Hoa Industrial Park,
4. Nhon Hoi Industrial Park A,
5. Nhon Hoi Industrial Park B,
6.Hoa Hoi Industrial Park,
7. Becamex VSIP Binh Dinh Industrial Park ,
8, Cat Trinh Industrial Park exists.
Characteristics of Bình Định Province and the Efforts of the Provincial Government
Binh Dinh Province is rich in natural resources, with major export items including granite, processed wood, eucalyptus chips, frozen seafood, and bird’s nests. Quy Nhon University in Binh Dinh Province opened a “Japanese Language and Culture Center” in 2018, and the province has been actively working to attract Japanese companies by jointly hosting seminars in Japan. Since January 2020, Phu Cat Airport has been designated as an international airport, offering direct flights to South Korea, with plans for direct flights to Japan in the future. Additionally, Quy Nhon Port aims to increase its handling capacity to 15 million tons annually by 2025.
Japanese Manufacturing Companies Expanding into the Region
Japanese manufacturing companies expanding into Binh Dinh Province include Able (garment: Phu Thai Industrial Park), Marubeni Lumber (wood processing: Nhon Hoi Industrial Park), and Fujiwara (solar power generation: Nhon Hoi Economic Park).
Housing Situation
In Quy Nhon City, there are condotels (a hybrid of condominium and hotel) designed for long-term foreign residents, providing a comfortable living environment that Japanese expatriates find convenient. Additionally, compared to major cities like Ho Chi Minh City, Hanoi, and Da Nang, the rental prices are quite affordable, allowing expatriates to save on costs.
Restaurant Situation
In Quy Nhon, there is “SHO Japanese Restaurant,” operated by the Japanese general contractor TDC (Vietnam Total Construction Co., Ltd.), where authentic Japanese cuisine featuring sushi and seafood can be enjoyed at reasonable prices.
Summary
As mentioned earlier, Bình Định Province is rich in resources such as granite, wood, and seafood. Quy Nhơn Port, an international port, is making investments to enhance its facilities and services with the goal of expanding cargo handling capacity, creating an environment conducive to exports. Additionally, universities are focusing on training Japanese-speaking talent, and the provincial government is promoting friendly relations with various Japanese cities to attract Japanese companies, hosting seminars annually. With conditions becoming favorable for Japanese companies, such as the availability of Japanese-speaking personnel and reduced expansion costs, an increase in the number of Japanese enterprises entering the region is expected.
齊藤公(Saito Hiroshi)
Business Advisor
G.A. Consultants Vietnam Co., Ltd
After graduating from university, he joined a PHP research institute and served as the head of the New York office. He then worked on the “Nagoya Port Redevelopment Project” at a subsidiary of the Chubu Nippon Broadcasting (CBC) company. He later shifted his base to Asia, where he was involved in the launch of “FM96.3” in Singapore, and the creation of “Hello Vietnam” and “Invest Asia” magazines in Vietnam. He then joined BW Industrial Development JSC, Vietnam’s largest rental factory development company, where he was responsible for attracting Japanese manufacturing companies. Currently, he is active as a consultant for the entry of Japanese companies at “G.A. Consultants”, one of the longest-standing Japanese HR consulting firms in Vietnam.
