Strengthening investment attraction to serve local demand for development

Tran Van Nam (sixth right), Member of the Party Central Committee, Secretary of provincial Party Committee; Tran Thanh Liem (third left), Vice-Secretary of provincial Party Committee, Chairman of provincial People’s Committee handing over investment certificates to enterprises in early March, 2016

FDI capital further increasing

According to provincial Department of Planning and Investment, 2015 was a successful year of the province in FDI attraction. The whole province lured nearly US$3.3billion in FDI capital or 328% of the year’s plan, including US$2.36billion from 216 newly-registered projects and more than US$928 million from 145 existing ones. Of the total figure, more than US$3billion poured into province-based industrial parks (IPs).

Since early this year, the province has also drawn nearly US$1.1billion in FDI capital, or 78.39% of the year’s plan and up over 8.33% compared to the same period last year. Of the total figure, more than US$731million from 113 newly-registered projects and US$367million from 64 existing ones.

During the period, processing and manufacturing industries attracted the most FDI capital with 99 newly-registered projects, total registered and additional capital of US$83.64million, accounting 7.62% of the total FDI.

Nguyen Thanh Truc, Director of provincial Department of Planning and Investment said that most FDI projects in the province have been arranged at IPs under the plan approved. Noticeably, province-based Ips absorbed more than US$946 million in FDI capital from newly-registered projects and existing ones or 86.3% of the total FDI in the first half of the year.

Boosting investment attraction

Since early this year, there have been 26 countries and territories investing in Binh Duong. Among them, Singapore took the lead with 7 newly-registered projects and 8 ones increasing capital with US$360million. South Korea ranked second with US$150million while Japan was third with US$85million. As of June 15, the province attracted 2,700 valid FDI projects with total registered capital of US$24.7billion, in which there were 1,625 capitalized at US$16.3billion at Ips.

Binh Duong has so far lured a lot of large-scale projects in line with the local industrial development plan approved by the Government. In the first half of 2016 alone, there were such projects making investment in the province. They include the Uniben factory project of Singapore’s Uniben Joint Stock Company with total investment capital of US$100million in Tan Uyen town; the project of HCM Coffee Co.Ltd under Fovoline Global Trading Pte.Ltd with total investment capital of US$88million...

Among 49 countries, territories investing in the province so far, Japan has taken the lead with total registered capital of US$5.1billion, followed by Taiwan with more than US$5.08billion; South Korea with US$2.25billion…The majority of FDI projects in the province have been arranged at Ips under the plan approved.

To absorb more FDI capital, Binh Duong will further strengthen measures to improve the local investment climate, facilitating enterprises ‘development; continue building up a modern and synchronous infrastructure system while making investment promotion in major markets. The province will also boost administrative reform; recheck and standardize corporate data…

Tran Thanh Liem, Vice-Secretary of provincial Party Committee cum Chairman of provincial People’s Committee emphasized that Binh Duong will continue implementing the Government’s policy on improving the investment climate, enhancing competitiveness and supporting businesses; opportunely deal with enterprises ‘queries to promote production-business. The province will also mobilize all resources to perfect the local socio-economic infrastructure system; expand Ips to create clean land fund for investors; train human resources, build social houses for workers at investors ‘demand for workforce…

Reported by Khanh Vinh-Translated by K.T