With a considerable result in FDI attraction, Binh Duong has been among the country’s four localities with FDI attraction surpassing US$20bln.
The amount of FDI capital flowing into the province focuses on industrial manufacture, contributing to creating a great value in terms of industrial production, export…This is seen as a difference from other localities.
Le Thanh Cung (right), Chairman of provincial People’s Committee handing over investment licence to a FDI enterprise.
FDI capital mainly flowing into industrial parks
Since early this year, Binh Duong has absorbed nearly US$1.48bln in FDI capital, up 47.7% compared to the corresponding period last year. The result has brought total FDI capital flowing into the province so far to nearly US$20.3bln with 2,359 projects from 39 countries and territories in the world. Particularly, there are 225 Japan-invested projects capitalized at nearly US$4.7bln; 667 Taiwan-invested projects worth more than US$4.6bln; 487 South Korea-invested projects with US$1.9bln; 136 Singapore-invested projects totaling US$1.76bln; 72 Malaysia-invested projects worth US$607mln…
According to provincial People’s Committee, the province’s orientation in FDI attraction is to give priority to absorbing projects making investment in industrial parks (Ips). This orientation has been upholding its effectiveness. Upon this, the majority of newly-invested FDI projects has recently focused on province-based industrial parks. Vietnam-Singapore IPs have so far lured 392 FDI projects with a total investment capital of nearly US$5.5bln. The remaining Ips have absorbed 969 FDI projects capitalized at nearly US$6.8bln. There are now also 996 FDI projects outside Ips with a total investment capital of more than US$8bln.
Possibly speaking, thanks to having a favorable investment climate with well-built traffic system, Binh Duong has reached considerable results in attraction of FDI projects making investment in Ips. With the current advantages, the province’s FDI attraction in 2014 is likely to reach US$1.7bln.
FDI projects focusing on industrial manufacture
Along with HCM city, Ba Ria-Vung Tau and Ha Noi, Binh Duong has surpassed US$20bln in FDI attraction. But, the FDI flow into Binh Duong has a great difference from the above localities.
The flow of FDI into HCM city, Ha Noi and Ba Ria-Vung Tau focuses on services and oil & gas. Meanwhile, FDI capital flowing into Binh Duong concentrates on industrial manufacture.
In October only, FDI capital flowing into the province created an industrial production value of VND102.403trillion or 68.7% of the province’s total industrial production value. Noticeably, there was a sharp increase in FDI capital flowing into auxiliary industries at enterprises’demand for materials, helping the province reach a high value in trade surplus. The province’s trade surplus over the past 10 years was estimated at more than US$2.35bln. With the result, Binh Duong has became one of the country’s localities with the highest trade surplus.
According to Le Thanh Cung, Chairman of provincial People’s Committee, with the above result in FDI attraction plus other advantages, Binh Duong will continue strongly absorbing FDI capital in the coming time.
Reported by T.Minh-Translated by K.T
