FDI capital continues strongly flowing into Binh Duong

Thanks to taking synchronous solutions on improving the local investment climate, Binh Duong last year successfully realized major tasks in investment attraction. In 2018, the province continues being expected to be one of the country’s top localities in investment attraction.

Ips absorb more FDI capital

In 2017, Binh Duong lured more than VND45.5trillion in domestic investment capital, up 52% against 2016 and more than US$2.7billion in FDI capital, up 75% compared to 2016. Most projects were implemented quickly right after being licensed. They included the production line No.2 of Kraft Vina Co., the polyester fiber making factory of Polytex Far Eastern Vietnam Co. with total investment of more than US$400million, the fifth factory of Japan’s TPR Vietnam Co.Ltd. with total investment of US$42million…

Production of Punch Industry Manufacturing Vietnam Co.Ltd. in Ben Cat town-based My Phuoc 3 IP

So far, there have been 64 countries and territories making investment in the province. Among them, Taiwan, Japan, South Korea, Singapore and Samoa have had long relations and sustainable investment with the province.

The province has till now absorbed 3,037 FDI projects with total registered capital of around US$28.47billion, ranking second nationwide in FDI attraction only after HCM city. Among these FDI projects, 1,878 have made investment in industrial parks (Ips) with total registered capital of US$19.52billion or 68% of the province’s total FDI capital.

The province’s manufacturing and processing industry has taken lead in FDI attraction with 2,406 projects worth more than VND19billion, followed by real estate with 37 valid projects capitalized at nearly US$3.2billion. Many other fields like trading-services, construction, transportation…have also step by step drawn more FDI capital.

Following victorious impetus

In 2018, Binh Duong will continue making more efforts to victoriously realize the set targets, in which investment attraction is seen as a lever for development. The province in January, 2018 alone lured more than US$160million in FDI capital from 9 newly-registered projects and 15 extra-ones.

The province will continue effectively taking solutions in association with the program on “Improving investment attraction for the period of 2016-2020”; focus investment attraction on trading-services, urban development, hi-tech agriculture and auxiliary industry. The province’s determination on smart city development is also the determination to create an ideal investment climate that is expected to absorb more FDI capital in the coming time.

Kawaue Junichi, Consulate General of Japan in HCM city said that over the past time, the Japanese business community made more investment in Vietnam in general and Binh Duong in particular. The province also promulgated policies to improve the local investment climate and support enterprises. Based on this, the province will continue being an attractive destination for investors, especially those operating in auxiliary industry, urban development, services…in the coming time.

At a recent meeting with FDI enterprises, Tran Thanh Liem, Vice-Secretary of provincial Party Committee, Chairman of provincial People’s Committee said that the province will further improve the local investment climate, competitive capacity and support enterprises. The province will focus all resources on perfecting a socio-economic infrastructure system; expand Ips to be able to lure more investors; promote hi-quality services at enterprises’ production-business demand and local demand for industrial and urban development; continue reforming administrative procedures and ensuring political security, social order-safety, facilitating enterprises’ development…

From an agricultural locality with numerous difficulties, after more than 20 years of development, Binh Duong has ranked second nationwide in FDI attraction. Over the past years, the province constantly reaped great successes in FDI attraction at the local demand for construction and development. Hence, it is expected that FDI capital will continue strongly flowing into the province in 2018.

Reported by Khanh Vinh-Translated by K.T

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