First investor approved for joint VSIP in Binh Dinh
Kurz International Holdings GMBH from Germany has been granted an investment licence for a hi-tech coating and thin film project worth 40 million USD at Becamex Vietnam-Singapore Industrial Park (VSIP) in the south central province of Binh Dinh.
Representatives of Binh Dinh province grant an investment licence to Kurz International Holdings GMBH from Germany. (Photo courtesy of Becamex VSIP Binh Dinh)
BinhDinh (VNS/VNA) - Kurz International Holdings GMBH from Germany hasbeen granted an investment licence for a hi-tech coating and thin film projectworth 40 million USD at Becamex Vietnam-Singapore Industrial Park (VSIP) in thesouth central province of Binh Dinh.
KurzInternational are the first foreign investor to be approved at the 1,425ha park in the central coastal province. It comes just one year after thesigning of a Memorandum of Understanding with the park owner Becamex Binh DinhJoint-Stock Company.
Theproject will be built on 12 ha with a total capacity of supplying 15 millionsquare metres of hi-tech film and coating products. It’s expected to beginoperation from the second quarter of 2023.
Theproject highlights the efforts of local authorities, investors and the parkowner in land clearance and infrastructure preparations, despite the delays andsetbacks caused by COVID-19.
Accordingto the Binh Dinh economic zone administration, the Becamex VSIP Binh Dinh – theareas first industrial, urban and service zone – was developed thanks to atotal investment of 3.3 trillion VND (142.1 million USD). It is a part of theNhon Hoi economic zone, in the province's Quy Nhon City.
Thepark was designed to draw 2 billion USD and create about 150,000 jobs for theprovince, and neighbouring provinces, along the central coast of Vietnam.
Lastyear, the province opened a 20km route connecting the Nhon Hoi economic zoneand Phu Cat Airport, to encourage business and tourism.
NineVSIPs, a typical economic cooperation model between Vietnam and Singapore, havebeen developed in Binh Duong, Bac Ninh, Hai Phong, Quang Ngai, Hai Duong andNghe An. They have attracted 840 partners and investors from 30 countries andterritories, and a total investment of 14 billion USD.
VSIPcomplexes nationwide cover around 8,600 ha and have created around 250,000 jobsfor Vietnamese and foreigners./.
Despite serious impacts of the COVID-19 pandemic, foreign investments in Vietnam in the first nine months of 2021 rose, showing investors' trust and optimism about the country’s socio-economic recovery and development in the coming time, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc has said.
While a number of foreign companies have moved part of their production or orders to other countries, many still see Vietnam as a good location for investment in the long term.
The People’s Committee of the capital city held a dialogue with foreign-invested enterprises in the city on October 19 to seek measures to tackle difficulties faced by foreign firms amid the COVID-19 pandemic.
Dong Nai has attracted 1.1 billion USD to nearly 140 foreign direct investment (FDI) projects since the start of this year, according to the Industrial Zones Authority of this southern province (DIZA).
The Vietnamese Government always listens to and creates the best possible conditions for foreign enterprises and investors to clear hurdles, set up a new normal environment, and recover their production and businesses at the earliest possible, under the motto of preventing disruption to production and supply chains and ensuring a smooth circulation of goods across the country, stated Foreign Ministry Spokesperson Le Thi Thu Hang.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
Despite global economic uncertainties, Binh Duong has maintained strong momentum in both exports and industrial production during the first half of 2025.
Representatives of Binh Dinh province grant an investment licence to Kurz International Holdings GMBH from Germany. (Photo courtesy of Becamex VSIP Binh Dinh) 
