A successful year in FDI attraction

Update: 12-12-2017 | 13:14:10

Thanks to solutions calling for investment implemented in a synchronous way plus resources continued being upheld, Binh Duong’s investment attraction has been completed earlier than planned.

FDI capital strongly flowing into auxiliary industry

According to Nguyen Thanh Truc, Director of provincial Department of Planning and Investment, 2017 continued being a successful year of the province in FDI attraction. Particularly, the province absorbed more than VND2.51billion, surpassing 79% of the year’s plan.

Provincial leaders grant investment licences to foreign investors

Noticeably, most FDI projects focused on auxiliary industries, mechanism, footwear…, accounting for more than 80% of FDI capital amount flowing into the province over the past 11 months. The majority of FDI capital in the province has so far concentrated on processing and manufacturing industries. Since early this year, province-based industrial parks have absorbed more than auxiliary factories, including Kraft Vina Company’s factory, Polytex Far Eastern Vietnam Company’s factory, Japanese TPR Vietnam Co.Ltd.’s fifth factory in the VSIP II A with a total investment capital of US$42million…

In recent years, the province has made strategic adjustment on investment attraction with focus on auxiliary and hi-tech industries.

It is known that over the past 11 months, there were 32 countries and territories making investment in Binh Duong. Taiwan, Singapore and South Korea continued being countries having the sustainable relationship with the province. Since early this year, capital amount from these countries has accounted for nearly 75% of total FDI capital flowing in the province. The province has also lured first projects from South Africa, Grenada…

Further creating best conditions for investors

During the industrialization process, Binh Duong has been appreciated as one of the country’s top ones in FDI attraction. It is known that over the past time, the province also strengthened investment marketing into potential markets like Japan, South Korea…The important success helped the province step by step obtain a growth target in both quality and quantity in investment attraction.

The province has always attached special importance to infrastructure development, creating connectivity with HCM city, Mekong Delta, southeastern, Central Highlands regions…Province-based industrial parks have also received more methodical and synchronous investment. Till now, the whole province has built 29 industrial parks of nearly 13,000 hectares with the rate of land tenancy at 72.2% and 12 industrial compounds of 815 hectares with the rate of land tenancy at 64.8%. The province’s investment climate has also been improved constantly towards sustainable development…

According to Mitsyhiro Mori, Chairman of HCM city-based Japan Business Association, Binh Duong will continue being an attractive destination for foreign investors in general and Japanese ones in particular. He also affirmed that more Japanese investors will pour capital into the fields of trade-services and goods production in Binh Duong.

Currently, along with industrial production, Binh Duong puts focus on urban-service fields. The province has also been proactive to set up trade promotion programs; opportunely removed businesses’ obstacles in the proccess of realizing their projects; bent on mobilizing resources to build infrastructure facilities; drastically carried out solutions to improve the local investment climate, and reform administrative procedures, enhancing provincial-level competitive capacity…

Reported by Khanh Vinh-Translated by K.T

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A successful year in FDI attraction

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