FDI attraction at province-based Ips further upholds effectiveness

Under the instruction of provincial Party Committee, People’s Committee and People’s Council, FDI attraction at province-based industrial parks (Ips) continued upholding its effectiveness over the past time, thereby significantly contributing to the local socio-economic development.

Infrastructure construction strengthened

Provincial Ips Management Board has as of now controlled over 26 Ips with more than 9,734 hectares in total, up 360 hectares compared to the same period last year. Among them, there are 24 in operation with a total area of more than 8,832 hectares.

A glance of VSIP 1

Over the past six months, nearly VND200billion was spent on building technical infrastructure facilities for 25 Ips under the Management Board, or 92.58% and 65% against the same period last year and the whole year’s plan, respectively. The Management Board also granted construction licenses to 104 companies with a total floor area of more than 2.88 million square meters, up more than 1.77million square meters or more than 258% compared to the corresponding period of 2016 and a total investment capital of more than VND2.1trillion or 90.04% against the same period of 2016. So far, the land tenancy rate of Ips under the Management Board has reached 72.1%.

Whilst, provincial Vietnam-Singapore Industrial Parks (VSIPs) Management Board also granted construction licenses to 7 projects with a total construction area of more than 29,333 square meters and a total floor area of more than 69,349 square meters. The Management Board made verification for drawings of 5 projects with a total construction area of 43,378 square meters and a total floor area of 66,181 square meters…

Thanks to zoning and construction management well realized, province-based Ips absorbed more investors. Nguyen Thanh Truc, Director of provincial Department of Planning and Investment said that over the past years, the province concentrated on constructing Ips’infrastructure facilities with a modern and synchronous system, creating a better and better investment climate towards sustainable development.

Destination of capital flows

Nguyen Thanh Trung, Deputy Head of provincial VSIPs Management Board said that over the past time, businesses at the VSIPs continued working stably and effectively, making great contributions to the local common development.

Since early this year, the VSIPs have absorbed additional 2 domestic projects capitalized VND2.97trillion, 15 FDI projects  with a total registered capital of US$122million and 11 extra-ones with more than US$60million…Thus, they have so far lured 37 domestic projects with a total registered capital of more than VND8.64trillion and 532 FDI ones totaling US$7.8billion.

In the first half of 2018, province-based Ips lured additional 22 domestic projects with a total registered capital of more than VND1.34trillion and one extra project with VND104billion. They also lured another 51 FDI projects with a total registered capital of more than US$266million and 24 extra ones with US$172million. Thus, they have had a total of 1,914 valid projects, including 1,385 FDI projects with a total registered capital of US$12.1billion and 529 domestic ones with a total registered capital of more than VND50.2trillion.

Tran Thanh Liem, Chairman of provincial People’s Committee said that province-based Ips constantly upheld their effectiveness over the past time, contributing to helping the province absorb more FDI and domestic capital. This also helped the province reap great achievements in the cause of national industrialization and modernization. In the coming time, the province will further bend on improving the local investment climate, competitiveness and boosting administrative reform; promote hi-quality services and increase resources to perfect socio-economic infrastructure systems…The province will also have timely supply of workforce and remove businesses’ queries…, contributing to reinforcing the position of Vietnam in general and building the trademark of Binh Duong in particular; continue supporting provincial Ips Management Board and VSIPs Management Board…

Reported by Khanh Vinh-Translated by K.T

• Vietnam treasures role of UNESCO: Foreign Minister (26/04)
• Enterprises want clearer regulations on seafood production (26/04)
• Socio-economic indicators increased over the same period (26/04)
• Connected traffic and upgraded urban areas (26/04)
• Impressions on the development journey (25/04)
• Ben Cat Town awards certificates of 12 typical rural industrial products in 2024 (25/04)
• Binh Duong Customs Department holds dialogue meeting with Korean businesses (25/04)
• Businesses concerned about rising exchange rate pressure (24/04)