Binh Dinh, 3 April 2016 - BIDV in collaboration with the Vietnam National Administration of Tourism successfully held the third Conference on Investment and Tourism Promotion for Binh Dinh Province. Taking place on April 3 in Binh Dinh Province, the conference saw the attendance of 500 participants, including representatives from government ministries and agencies as well as local and international investors and businesses from Japan, Singapore, Indonesia and Taiwan, amongst others.

​The conference had several aims. Firstly, to promote the position of Binh Dinh tourism in the central coast region – the key tourism hub of Vietnam for the period 2016-2020; secondly, to announce breakthrough solutions on strategies, planning and preferential investment policies to develop tourism infrastructure and differentiated and outstanding tourism products, to make Binh Dinh an attractive and competitive destination in the region; and thirdly, to strengthen the confidence and attractiveness of the investment climate of Binh Dinh for domestic and foreign investors, both existing and potential who will directly enable tourism development in the province.

Located in Vietnam central’s key economic region, Binh Dinh is an important juncture in the East - West economic corridor. The province is known as the land of martial arts and literature, boasting Cham cultural relics as well as traditional martial arts, folklore and cultural festivals. The province also features coastline and beautiful inland landscapes.

In his speech, Mr. Tran Bac Ha, BIDV Chairman, said that after two years of implementing the investment and tourism promotion conference, the province has made breakthroughs in terms of policies and mechanisms.

Specifically, the province granted four-year corporate income tax exemption as well as 7-15 year land rent exemption from the date a project is completed and put into use. The province also granted 100 percent exemption of land rent in disadvantaged areas and a reduction of 20-30 percent of land use to remove obstacles in investment certificate granting and procedures. Furthermore, Binh Dinh upgraded and accelerated infrastructure investment projects for tourism development.

Over the past years, the province has attracted an increasing number of potential investors. By the end of 2015, the province had attracted 33 investment projects including six foreign ones, with total registered capital of nearly VND6,000 billion (USD268 million). Implementation of all these projects has begun.

A highlight of the conference was the master plan on tourism development until 2020 with vision to 2030 announced by the province of Binh Dinh, which focuses on investment and exploiting tourism resources professionally and sustainably, producing high quality and competitive tourism products.

Accordingly, by 2020, visitor numbers are expected to reach 5,500,000, of which 800,000 will be international, an average annual growth rate of 15 percent. Total tourism revenue is predicted to reach VND10,000 billion, an average annual growth rate of 25 percent. The province aims to have 200 hotels, accommodating 7,500 rooms, of which 35 percent will be standard 3-5 star rooms; and 7,000 employees working directly in the tourism sector. By 2020, about 45 key investment projects for tourism development in Binh Dinh will have been implemented.

The conference saw the signing ceremony on linking tourism development between Binh Dinh, Phu Yen, Gia Lai, and Dak Lak Provinces entitled Four Provinces One Destination. The Binh Dinh Province People's Committee granted preliminary investment decisions to three enterprises, with total investment of over VND920 billion (USD41 million); and awarded investment registration certificates to three projects totaling close to VND4,200 billion (USD187 million).

BIDV also signed a master agreement to arrange funding for two projects with total investment values of nearly VND2,531 billion (USD112.5 million), of which BIDV is committed to finance VND1,300 billion (USD58 million).

BIDV gave VND14.7 billion (USD653,000) to Binh Dinh Province to support the implementation of overall planning of socio-economic development until 2035 with vision to 2045.

Mr. Tran Bac Ha stressed, “BIDV hopes these feasible solutions will create positive social effects, strengthening the confidence of investors in Binh Dinh, making tourism a key economic sector of Binh Dinh Province, contributing significantly to the socio-economic development of the province and improving the living conditions of the local people.” He added that the strong development of tourism in the Central Region will contribute to national defense and sovereignty protection. “BIDV is committed to being a trusted companion for businesses and investors, both local and foreign, on their investment projects in Binh Dinh, offering preferential policies as well as support to make the region more prosperous.”