FDI attraction: Hallmark and expectation

Update: 23-02-2019 | 17:32:30

Over the past years, Binh Duong constantly reaped successes in FDI attraction. It is expected that the province will absorb more FDI capital, contributing to successfully realizing major targets in 2019.

A year with hallmarks

In 2018, the province’s socio-economic situation continued gaining stable development. The province reached and surpassed 27 out of 29 major targets of the year. Noticeably, the province’s GRDP growth was 9.01%, surpassing the set plan. The province’s investment climate continued being improved. The province’s export turnover obtained US$25.28billion. The province’s trade surplus was estimated at more than US$4.7billion. Whilst, the province’s State budget spending was controlled closely. The province also well realized equitization at State-run enterprises…

Tran Thanh Liem (second right), Vice-Secretary of provincial People’s Committee, Chairman of provincial People’s Committee and K.Srikar Reddy (left), Consul General of India in HCM city talk with FDI enterprises operating in the province

In addition, the province lured additional VND1.7billion in FDI capital, beyond 20.9% of the year’s plan. Particularly, there were 135 new FDI projects capitalized at US$649.5million, 86 capital increasing projects with US$420.1million, 96 projects made by foreign investors to contribute capital to businesses and to buy shares of Vietnamese businesses with total capital of US$269.2million.

The manufacturing and processing sector last year retained its crown as the most attractive sector to foreign investors with 114 newly-registered FDI projects, 83 extra-projects and 65 ones with capital pledged for stake acquisitions with more than US$1.21 million or 84.2% of the province’s registered FDI capital. The trade-service sector ranked second with total registered capital of US$210.8million or 15.75% of the province’s total registered FDI capital last year.

New expectation

According to Nguyen Thanh Truc, Director of provincial Department of Planning and Investment, FDI capital is now a driving force for the development and the shift of the province’s economic structure. The province has so far had a roadmap on gradually changing the structure of industrial land in industrial parks in Thuan An and Di An town to trade-service land in line with the local land use planning in each period. The province has also boosted the development of industrial parks in the northern region in association with synchronous infrastructure investment outside industrial parks to serve enterprises’ demand for production and business. This is a new progress, creating favorable conditions for the province to reach socio-economic development as well as accelerating FDI attraction in the new period.

In the coming time, the province will continue making efforts in effectively taking solutions in association with the realization of the program on “Improving investment attraction in the period of 2016-2020”; give priority to absorbing projects in trade-services, urban development, hi-tech agriculture, auxiliary industry that are environmentally friendly and make great contributions to the local State budget. The province’s determination in smart city building has created an ideal investment climate, which is expected to bring the province a stronger investment wave in the coming time.

Over the past time, the province implemented the program on “Improving investment attraction in the period of 2016-2020” with focus on luring partners with great potential, auxiliary projects and hi-tech ones that are labor-intensive and environmentally friendly…

Tran Thanh Liem, Vice-Secretary of provincial Party Committee, Chairman of provincial People’s Committee affirmed that the province has promoted auxiliary industries. The province will also continue perfecting policies on investment attraction while strengthening construction of infrastructure facilities of industrial parks and compounds to create the local clean land fund. In addition, the province will attach special importance to absorbing hi-tech industries, which is seen as the premise for the local industrial development.

Reported by Khanh Vinh-Translated by K.T

Share

FDI attraction: Hallmark and expectation

HIGHLIGHTS

MOST READ