FDI inflow into Binh Duong continues surging

Update: 26-09-2017 | 10:44:14

Since early this year, foreign direct investment (FDI) inflow into Binh Duong has continued increasing impressively. This result came from the efforts by the province in administrative reform and investment promotion …

Surpassing 41% of year’s plan

The province over the past nine months absorbed more than US$1.98billion, up 28% compared to the same period last year or 141% and 58.3% of the year’s plan and five-year plan from 2016-2020. The province has so far ranked fifth nationwide in terms of FDI capital with US$27.7billion from 2,997 projects.

Tran Thanh Liem (first right), Vice-Secretary of provincial Party Committee, Chairman of provincial People’s Committee receives leaders of South Korean businesses in the province

Processing and manufacturing industry continued attracting foreign investors’ interest with 128 newly-registered projects and 81 extra-ones…with US$563million or 79% of total FDI flowing into the province since early this year.

Noticeably, there are up to 89.7% of FDI projects arranged into industrial parks (Ips) in line with the province’s orientation for investment attraction at requirements of environmental protection. The majority of FDI projects outside Ips focus on trade-services. For those operating in auxiliary industry and workshop business, they are arranged in districts of Bau Bang, Dau Tieng, Phu Giao, North Tan Uyen and industrial compounds in the province.

Over the past nine months, there were 32 countries and territories with newly-registered projects and extra-ones in Binh Duong. Taiwan with total investment capital of US$597million, Singapore with US$521million, South Korea with US$344million continued being countries with sustainable relationship with Binh Duong. The province also lured first FDI projects from South Africa, Grenada, United States Virgin Islands…

Always creating favorable conditions for investors

Nguyen Thanh Truc, Director of provincial Department of Planning and Investment said that over the past time, the local investment climate was improved towards sustainable development. Foreign investors were very interested in the local fields of electricity, electronics, mechanism, chemicals, trade-services…The world’s big corporations continued selecting Binh Duong for investment, which was seen as a good sign in the local investment attraction.

According to Mr.Truc, the province will further strengthen reforming administrative procedures pertaining to investment. The province will also continue realizing the Ministry of Planning and Investment’s Circular No. 02/2017/TTBKHDT guiding the interagency coordination mechanism for performing investment and enterprise registration procedures for foreign investors; organize dialogues with enterprises for timely solutions…

At a recent meeting with South Korean investors, Tran Thanh Liem, Vice-Secretary of provincial Party Committee, Chairman of provincial People’s Committee said that the province will concentrate on improving the local investment climate, competitiveness and supporting enterprises. The province will also mobilize all resources to perfect the local socio-economic infrastructure systems on traffic, power, water supply, environmental treatment…; create the best conditions for enterprises to work effectively; bend on fostering hi-quality services at requirements of enterprises and industrial-urban development…

Reported by Khanh Vinh-Translated by K.T

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FDI inflow into Binh Duong continues surging

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