FDI capital continues "pouring strongly" into Binh Duong

In the first two months of 2023, Binh Duong attracted more than US$340 million in foreign direct investment (FDI) capital or 441% over the same period last year. This figure accounted for 11% of the country’s total FDI in the first two months of the year. With the result, Binh Duong ranked third nationwide in FDI in the first 2 months of the year, continuing being an attractive locality for foreign investors.

According to data from provincial Department of Planning and Investment (DoPI), in the first 2 months of 2023, the whole province’s total newly registered, adjusted and contributed capital to buy shares reached US$ 340.59 million, or 441% over the same period last year. Particularly, there were 7 new projects granted investment registration certificates with total investment capital of US$ 19.7 million, or 124% over the same period last year; 4 projects adjusted investment capital with total registered capital increasing by US$ 4.23 million; 13 projects registering to contribute capital and buy shares with total capital contribution value of US$326.6 million, or 423% over the same period last year.

Binh Duong continues being a locality with favorable and attractive investment climate for domestic and foreign investors. In picture: Production activities at Kyungbang Vietnam Co., Ltd. in Bau Bang Industrial Park

Of these, province-based industrial parks (IPs) attracted 4 new investment projects with total registered investment capital of US$ 13.81 million, or 93% over the same period last year, 4% of the province’s total FDI capital. There were 3 new investment projects, 4 capital adjustment projects, 13 registering capital contribution and share purchase with total registered investment capital of US$ 326.7 million outside the local IPs, accounting for 96% of the province’s total foreign investment capital.

According to Trinh Hoang Tuan Anh, Deputy Director of provincial Department of Planning and Investment, with the concentration of investment resources in core technical infrastructure works, Binh Duong has promoted its pervasive effect, meeting investors’needs in the new fields, especially industrial development and high-quality services, contributing to attracting investment, promoting industrial production, improving the material and spiritual living standards of people from all strata, accelerating the local process of civilized and modernized urbanization.

Accordingly, in the first 2 months of 2023, real estate business activities attracted a lot of attention from foreign investors with 2 projects registering for capital contribution and share purchase with total investment capital of US$ 324.1 million, accounting for 89.9% of total registered investment capital. The manufacturing and processing industry ranked second with total registered investment capital of US$ 20.7 million, accounting for 5.7% of total registered investment capital. Agriculture, forestry and fishery ranked third with total registered investment capital of US$ 10 million, accounting for 2.7% of total registered investment capital.

In terms of investment countries and territories, there were 11 countries and territories making investment in Binh Duong. Investors from the Netherlands poured US$324.1 million, accounting for 90.1% of total registered capital. Taiwan ranked second with US$ 13.6 million, accounting for 3.8% of total registered capital. Hong Kong ranked third with US$ 6.6 million, accounting for 1.8% of total registered capital. It was followed by the United States, Singapore, South Korea...

Representative of provincial Department of Planning and Investment also said that as of now, Binh Duong has still ranked second nationwide (after Ho Chi Minh City) in terms of the number of projects and total FDI capital with 4,092 valid projects granted investment registration certificates, with total registered investment capital of more than US$ 39.73 billion, accounting for 9% of the country’s total foreign investment capital. On average, each project is about US$ 9.7 million.

There are now 65 countries and territories registering for investment in Binh Duong. Among them, 10 countries and territories are Taiwan, Japan, Singapore, Samoa, South Korea, British Virgin Islands, Hong Kong, China, Denmark and the United States with total registered investment capital of more than US$ 33.32 billion. Taiwan ranks first with 865 projects capitalized at more than US$6.27 trillion, accounting for 21% of the number of projects and 16% of the capital. Japan ranks second with 341 projects totaling US$ 5.89 billion, accounting for 8% of the number of projects and 15% of the capital. Singapore ranks third with 278 projects, with total registered capital of US$ 5.41 billion, accounting for 7% of the number of projects and 14% of the capital.

Foreign investors still gave priority to pouring capital into processing and manufacturing industry, wirh 3,541 projects capitalized at US$ 29.16 billion, accounting for 73.4% of the total registered investment capital. Real estate business ranked second with total registered investment capital of US$7.36 billion, accounting for 18.5% of total registered investment capital. Construction ranked third with total registered investment capital of US$ 1.21 billion, accounting for 3% of total registered investment capital.

According to provincial DoPI, with positive FDI attraction results in the first two months of the year, if the socio-economic situation is more stable, inflation continues being controlled, the amount of FDI attracted by Binh Duong this year is expected to reach and exceed the set target of US$ 1.8 billion.

Reported by Ngoc Thanh-Translated by Kim Tin