Binh Duong enjoys robust foreign direct investment

The southern province of Binh Duong expects to attract over US$1.4 billion of foreign direct investment (FDI) this year, said director of the provincial Department of Planning and Investment Nguyen Thanh Truc.

Binh Duong enjoys robust foreign direct investment
A worker operates an electronic circuit production line at Matsumura Electronics Company Ltd in My Phuoc Industrial Park in the southern province of Binh Duong. - VNA/VNS Photo Quach Lam

Truc said the province would focus on projects that use modern technologies, especially big urban development areas and major high-quality service projects.

In January, the province lured more than $693 million of FDI, including projects such as the Viet Nam – Singapore Industrial Park III, with investment capital of $284.75 million funded by Singapore and an auto tire and air bag project worth $220 million invested by Kolon Industries Inc from the Republic of Korea (RoK).

The province has over 2,800 FDI projects with total investment capital of $25.5 billion so far, taking a position in the top five cities and provinces attracting the largest FDI investment in Viet Nam. Japan, Singapore and RoK are the three countries with the largest investment capital in Binh Duong.

FDI businesses contributed more than VND9 trillion to the State budget last year, 112.5 per cent greater than that of the previous year.

Meanwhile, the southern province of Dong Nai reported that it attracted $163 million of FDI from early this year to February 15.

Of the fund, $126.7 million come from seven new projects and $36.2 million are additional investment capital from nine ongoing projects. They include Pou Phong Viet Nam Company Ltd and Powerknit Viet Nam, both from the British Virgin Islands with investment capitals of $55 million and $60 million, respectively.

According to the Dong Nai planning and investment department, the FDI projects have come from 44 nations and territories. The province will give priority to high-tech, skillful-labour, part supply and environmentally-friendly projects.

Source VNS