FDI attraction: A promise of successful year

In early 2019, Binh Duong has continued absorbing a large amount of FDI capital. This is seen as a good sign for FDI attraction, serving the local demand for socio-economic development.

Getting thriving from early this year

According to statistics from the Foreign Investment Agency under the Ministry of Planning and Investment, from the beginning of the year until January 20, 2019, the whole country had lured additional 226 new FDI projects with a registered capital of US$ 805 million, up 81.9% compared to the same period last year and 72 extra-ones with US$340.2million or 74.5% against the corresponding period last year. Meanwhile, the capital pledged for stake acquisitions reached US$761.8 million, up 114% compared to the same month last year.

Leaders of the Government, ministries, sectors and the province witness a ceremony handing over investment certificates to enterprises

Reportedly, foreign investors pumped cash into 39 localities nationwide. Among them, HCM City attracted the lion’s share of FDI with US$746 million, or 39.1% of the total capital pledged in the country. Binh Dương was the runner-up with US$240 million, or 12.5%. As of January, 20 2019, the nation is home to more than 27,640 valid FDI projects with capital totaling US$340.1 billion. Binh Duong now ranks third among 63 provinces and cities nationwide in FDI attraction with US$32.5billion.

Possibly seeing, this is a thriving sign in FDI attraction of the province in early this year, serving the local demand for development in the new period. Thus, Binh Duong continues being one of the country’s attractive destinations for foreign investors, deserving the efforts by provincial leaders and those who are in charge of investment attraction of relevant agencies.

At the conference on institutional and policy consultation and orientation on FDI in the new context just held, Tran Thanh Liem, Vice-Secretary of provincial People’s Committee, Chairman of provincial People’s Committee said that the province’s achievements in FDI attraction over the past time came from the efforts by provincial leaders over periods, people and economic sectors, especially the timely attention and support of the Government and central ministries, contributing to helping the province surmount challenges in the renewal and integration cause, facilitating investment attraction and effective use of FDI capital for the local socio-economic development.

Improving quality of FDI capital

In the 2011-2016 period, 67% of the province’s industrial production value came from the FDI sector. Nearly 75% of FDI capital flowing into the province focused on industrial manufacture. FDI capital was also one of the province’s great resources, creating the premise for civilized and modern development as well as the foundation for taking specific solutions on industrial development in association with smart city building.

To improve the quality of FDI capital in the new context, the province has implemented a program on improving investment attraction in the period of 2016-2020 towards the goal of absorbing partners with great potential; further promoted traditional markets; strengthened a task of calling for foreign investment in high-tech industries that are labor-intensive and environmentally friendly; focused on luring investment projects into industrial parks projected; attached special importance to absorbing domestic investment projects in auxiliary industries, taking part in the global value chain of multi-national corporations.

Mr.Liem stressed that with the flexibility, creation of provincial leaders, people and economic sectors, the province gained impressive results in FDI attraction and socio-economic development over the past time. In the coming time, the province will continue firmly keeping its position as a locality with flexible development, attraction with investors at home and abroad, thereby creating the premise for it to carry out a goal of sustainable, smart urban development in the coming time.

Reported by Khanh Vinh-Translated by K.T

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