Boosting investment attraction for development

Production at International Chutex Co.Ltd. in Di An town-based Song Than Industrial Park

Absorbing investment resources

From an agricultural land with poor conditions, Binh Duong has so far been among the country’s five localities attracting more than US$20bln in FDI capital and reaching major achievements, reshaping the local image. Along with flexibility and creativity of provincial leaders over periods, this result was contributed by investors at home and abroad.

Realizing that industrial development is the key to the local development, Binh Duong has carried out “rolling out the red carpet to call for investment” policies, grasped and effectively tapped all opportunities, strongly drawn investment resources at home and abroad; drastically make a shift on the local economic structure towards the growth of industrial manufacture and services.

Binh Duong well implemented investment attraction for development over the past years and it has become an important resource for the local industrialization and modernization. In 2010-2015 alone, Binh Duong mobilized VND263trillion in investment capital of the whole society with the annual average growth of 20%. Of these, capital from State budget accounted for 8.6% while FDI capital occupied 43.1%. This helped Binh Duong gain important achievements in all aspects, becoming one of the country’s localities with the most flexibly development.

Continue strongly luring FDI capital

Also in the 2010-2015 period, Binh Duong attracted 12,373 newly-registered domestic projects and extra-ones with total registered capital of approximately VND79trillion. The province is now home to more than 20,000 domestic businesses with total registered capital of more than VND146bln.

The province also lured 491 newly-registered FDI projects and 690 extra-ones with more than US$8bln. As of late Dec.2015, there were 2,587 FDI businesses with total registered capital of US$23.7bln. Noticeably, the province was very successful in absorbing great projects, promising big changes on socio-economic infrastructure in the coming time.

2016 is the first year Binh Duong’s Party, government and people has implemented the Resolution of the 12^th National Party Congress and the Resolution of the 10^th local Party Congress with the most important and overall target being to develop Binh Duong into a centrally-controlled municipality. To achieve the set targets, Binh Duong has attached special importance to mobilizing all resources for socio-economic development, which is seen as one of the local top tasks.

The province’s total investment capital for the whole society in the 2016-2020 period is expected to be around VND485bln, reaching the annual average growth of 12.2% and accounting for 31.6% of total GDP. The province will strengthen investment restructuring, in which public investment is realized under the set targets. One of the province’s main tasks for this is to actively mobilize all social resources for the local development. Accordingly, the province will strongly draw FDI capital, especially from foreign groups with modern technologies…

To achieve the above thing, in the coming time, Binh Duong will further facilitate investors’ development, boost cooperation between them and State management agencies while giving them support on necessary information to forward their investment.

Reported by Khanh Vinh-Translated by K.T