Trang tiếng Việt
Binh Duong lures US$1.1 billion in FDI Print
Monday, 25 July 2016 14:22

VIETRADE The southern province of Binh Duong attracted approximately US$1.1 billion in foreign direct investment in the first half of this year, fulfilling over 78% of this year's FDI target and surging 8.3% against the same period of last year, according to the provincial People's Committee.


Of the sum, 113 newly-licensed projects contributed to more than US$730 million while the remainder of US$367 million came from 64 existing ones which increased their capitals.


Among large projects included a US$100 million fruit and vegetable processing project being invested by Singaporean Uniben Joint Stock Company; two Fovolin Global Trading Pte-owned coffee processing and producing projects, worth a combined of US$154 million. These projects would be developed in Vietnam-Singapore II Industrial Park.


During the reviewed period, the manufacturing industry was the largest FDI recipient with over US$1 billion. Meanwhile, the service sector saw US$83.6 million investments. 


The committee added that 26 nations and territories have invested in the locality over the past six months, with Singapore topping with seven new projects and increasing capital in eight existing ones. Singaporean investors accounted for more than a third of the investment with US$360 million.


The Republic of Korea ranked second with US$149 million while Japan came third with US$84.89 million.


Notably, Binh Duong province has attracted a number of large projects which matched its orientations and plans for local industrial development, the committee noted.


With these results, Binh Duong has so far attracted 2,700 foreign-invested enterprises with a total registered investment of US$24.75 billion, including 1,625 worth US$16.3 billion in industrial zones (IZs).


In the time ahead, the province would continue accelerating investment promotion in key markets such as the United States, the European Union, Japan, the Republic of Korea, Singapore and Taiwan, in order to lure investment in IZs with projects in supporting industries, taking advantage of Vietnam’s participation in free trade agreements, including the Trans-Pacific Partnership.


Furthermore, it would also focus on speeding up administrative reforms towards publicity, transparency and simplicity, and improving the investment environment, aiming to create the most favorable conditions for enterprises.


Efforts would be made to boost human resource training and develop social housing for local workers, said the committee chairman Tran Thanh Liem.


High-end services would also be developed to meet the local demand for industrial and urban development.


Liem vowed that local authorities would further provide support for local companies. Difficulties faced by companies would be resolved to smooth their operations.


More meetings would be held between authorities and businesses to solicit suggestions and help the latter resolve their difficulties, he said.


Last year, the province licensed 176 new foreign-invested projects worth US$966 million and US$734 million was added to 113 operational projects. It planned to lure US$1.4 billion in FDI in 2016./.

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