Binh Duong’s foreign direct investment (FDI) attraction over the past years got good results. In the coming time, the province will continue strengthening FDI attraction and consider this as a crucial resource for development in the new period.
FDI capital-an important resource
From an agricultural locality with difficulties, Binh Duong has obtained remarkable advances and become the country’s top five localities with FDI capital surpassing the threshold of US$20billion.
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Production activities of the South Korean-invested Kumho Vietnam Company at the My Phuoc Industrial Park in Ben Cat town
According to the latest report by provincial Department of Planning and Investment, the province’s total investment for the whole society in the period of 2011-2015 reached more than VND257.66trillion with the annual growth of 18%, in which FDI capital occuped the highest proportion with 48.4%. Noticeably, the whole province last year absorbed nearly US$3.3billion in FDI capital or 328% of the yearly plan, in which over US$3billion flew into industrial parks.
Over the past 7 months, Binh Duong continued being one of the country’s leading localities in FDI attraction with approximately US$1.5billion, exceeding the yearly plan. This result has helped Binh Duong become one of the three leading localities nationwide in FDI attraction since early this year. The majority of FDI capital herein flows into industrial parks and focuses on hi-tech industries in conformity with the local development orientations.
The success of FDI attraction last year has showed the local prospect in speeding up this task for the local development demand in the following years. This is of great significance for the locality amidst Vietnam joining the ASEAN Economic Community (AEC), free trade agreements, especially the Trans-Pacific Strategic Economic Partnership Agreement (TPP)…
Further improving investment climate
Since early this year, there have been 26 countries and territories making investment in Binh Duong. Among them, Singapore has taken the lead with 7 new projects and 9 extra-ones with a total investment capital of US$360million, followed by South Korea with US$150milion and Japan with US$85million. The province as of August 15 had a total of 2,700 valid FDI projects with a total registered capital of US$24.7billion, in which 1,625 capitalized at US$16.3billion were invested in industrial parks.
Possibly speaking, the province’s FDI attraction over the past time continued making positive changes. The local investment climate saw better improvement towards sustainable development. Also upon this, investors are now very interested in the local strong industries like electricity, electronics, mechanism, chemicals, trade-services…
To lure more FDI capital, Binh Duong will further strengthen solutions to improve the local investment climate, facilitating businesses’ development; develop synchronous and modern infrastructure systems; strengthen investment promotion in main markets. The province will also intensify administrative reform; recheck, implement standardization of data and synchronization of information among businesses…
Tran Thanh Liem, Chairman of provincial People’s Committee also emphasized that Binh Duong will further carry out the Government’s policies on improving the investment climate, competitiveness and strengthening support for enterprises; opportunely deal with enterprises’ queries to promote production and business; mobilize all resources to perfect socio-economic infrastructure systems at investors’ requirements.
Reported by Khanh Vinh-Translated by K.T
