Along with other economic sectors, local FDI attraction in 2010 reached remarkable results. Notably, aside from FDI increase bases on firmness, investors consider Binh Duong an attractive destination.
Measure of satisfaction
According to the provincial People’s Committee, local FDI attraction reached US$1.50bil in 2010. This result lifted the total local FDI capital up to $13.7bil with 2,006 projects from over 40 nations and territories. 2010’s new character was from a rapid increase on FDI attraction. Notably, nearly 70% of FDI capital was invested in industrial parks. This showed a sustainable development based on local instruction. Explaining this result, Do Nhat Hoang, head of Foreign Investment Bureau under the Ministry of Investment and Planning, said “In 2010, despite difficulties, local FDI attraction still reached a remarkable signal. The strong attraction of FDI contributed to the country’s economic development and created high industrial production value. Moreover, FDI businesses focused on hi-tech production in conformity with sustainable industrial development set out by the local administration”.
A production line at DJV Company Limited
Binh Duong’s success in FDI attraction is an essential result. According to Paik In Ki, chairman of Korean Investment Association in Binh Duong, “well-prepared industrial infrastructure and local attention bring secure feeling for investors. The association will keep promoting its role to help Korean businesses learn more about Binh Duong as well as raise local investment capital source”. Talking about Binh Duong, Hirota Nakanishi, rep of the Japan External Trade Organization (JETRO), said “Binh Duong possesses a perfect service of public administration and professional infrastructure investors. Besides, urban foundation and building will help engineers, laborers live and work in peace and contentment, the local authority also perfects living environment suitable to foreigners. This helps surge attraction for foreign investors”.
Meanwhile, Ikuo Mizuki, Japanese consul general in HCMC, said “Binh Duong is a top destination of FDI attraction and is ranked high positions in the country. Concrete figures of investors in the locality are the most authentic prove on local investment attraction”. Jos Schellaars, Netherlands Consul General in HCMC, affirmed “Vietnam’s stable economic-political situation is a good condition for Dutch businesses’ investment. In the good common environment, Binh Duong has emerged as top destination in Vietnam”.
An attractive environment
To promote sustainable development of FDI in the coming time, Binh Duong has focused on infrastructure facility in industrial parks, vocational training, and traffic network for the sake of businesses’ development with many highlighted projects of a 1,000ha Binh Duong New City, My Phuoc-Tan Van route, Eastern International University and so on. All of these projects are a well preparation for local development.
With an advantage investment climate plus proper solutions, it is sure that local FDI capital source will strongly increase in the coming time. This is a firm premise to believe that local FDI attraction in 2011 will complete goals ahead of schedule.
Reported by T.Minh – Translated by A.C
