Binh Duong further creates a hallmark in FDI attraction

Since early this year, Binh Duong province has ranked fifth nationwide in FDI attraction with more than US$1.3billion or 95.6% of the year’s plan.

Investment attraction in right direction

According to statistics from provincial Department of Planning and Investment, since early this year, the province has absorbed more than VND1.33trillion in FDI capital from 135 newly-registered projects and 86 extra-ones…Among 28 countries and territories making investment in the province, South Korea has taken the lead with US$217.5million, followed by Taiwan (China) with US$189.5million, Holland with US$144.87…

Binh Duong has continued luring investment projects in the right direction. In picture: Dong Hung Footwear Company

Foreign investors continued being interested in the province’s processing, manufacturing industries with 114 newly-registered projects, 83-extra-ones…worth US$1.12billion or 84.2% of the province’s total FDI capital over the past 10 months. Trade-services also lured US$210.8million in FDI capital or 15.75% of the province’s total FDI capital.

Under provincial People’s Committee’s Plan No.96/KH-UBND dated January 10, 2018 on the implementation of the Government’s Resolution No.01/NQ-CP dated January 1, 2018 to further make socio-economic development, since early this year, most FDI projects have been arranged into industrial parks in line with the province’s investment attraction policy at requirements of environmental protection…

Further improving quality of FDI capital

Under the instruction of provincial People’s Committee at the Circular No.2069/UBND-KTN dated May 18, 2018 on improving the realization of regulations on environmental protection for investment projects, the province has encouraged investors to make investment into industrial parks and compounds with fully worked-out sewage treatment and collection infrastructure facilities; refused projects in the list of industries at the risk of environmental pollution that make investment into areas with the risk of environmental pollution or without water drainage infrastructure facilities.

As of now, Binh Duong has ranked third nationwide in FDI attraction with 3.434 projects capitalized at US$31.4billion. Each project has the average capital level of US$9.1million. Province-based industrial parks have lured 2,098 FDI projects with a total investment capital of US$21billion. Taiwan (China) has taken the lead among countries and territories making investment in the province with 812 projects with a total registered capital of more than US$5.15billion, followed by Japan with 289 projects worth more than US$4.95billion, Singapore with 229 projects totaling more than US$4.11billion, South Korea with 711 projects valued at more than US$2.95billion…

Nguyen Thanh Truc, Director of provincial Department of Planning and Investment said that FDI capital is a motivation for the province’s development and shift of economic structure. In 2017 alone, the FDI sector accounted for 48.5% of the province’s social investment capital and 82.8% of the province’s total export turnover.

According to provincial People’s Committee, the province will continue effectively taking solutions in association with the program on “Improving investment attraction for the period of 2016-2020”. Tran Thanh Liem, Vice-Secretary of provincial Party Committee, Chairman of provincial People’s Committee said that the province will further concentrate on attracting hi-tech projects that are labor-intensive and environmentally friendly. The province will also continue perfecting the local policies on investment attraction; boost a task of building infrastructure facilities of industrial parks, compounds to create clean fund…

As of October 20, 2018, province-based FDI projects disbursed US$15.1billion, up 6.3% compared to the same period last year. Processing and manufacturing industries attracted the most FDI capital with US$13.2billion, followed by real estate trading with US$5.7billion, wholesale-retail trading with US$2.3billion...

Reported by Khanh Vinh-Translated by K.T

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