FDI attraction: Impression right from early year

Today, March 12, leaders of the province hand over investment licenses to 18 businesses with a total investment capital of US$143million and VND955billion. Participating delegates also witness a ceremony to sign a Memorandum of Understanding (MoU) on cooperation between Binh Duong and South Korea’s Daejeon city and a ceremony to sign a contract on expanding the project of Far Eastern Corporation.

FDI capital strongly flowing into the province

According to provincial Department of Planning and Investment, the whole province in the first two months of 2018 absorbed US$435million in FDI capital. Particularly, there were 32 FDI new projects with a total registered capital of US$233.9million and 13 extra-ones with US$141.5million…The province has so far ranked second nationwide in FDI attraction only after HCM city with a total investment capital of US$30.66billion or 9.5% of the whole country’s total FDI capital.

Production of Kumho Vietnam Company at Ben Cat town-based My Phuoc Industrial Park

Over the past two years, province-based industrial parks (Ips) lured US$376million in FDI capital from 27 newly-registered FDI projects, 8 extra-ones…There were also 4 newly-registered FDI projects, 5 extra-ones…outside province-based Ips with US$58.3million. It is known that they mainly focus on services…

Manufacturing and processing industry continued taking lead in FDI attraction with US$274million or 63.2% of the province’s FDI capital. Real estate trading ranked second with US$159.6million or 36.74% of the province’s FDI capital.

Among the newly-registered FDI projects in the province, many with great capital include the two projects of logistics and real estate trading invested by Warburg Pincus Corporation and Becamex IDC at the Bau Bang IP and My Phuoc 3 IP with a total registered capital of US$135.2million; the project of Apparel Far Eastern Co.Ltd. at VSIP II-A with a total registered capital of US$25million; the project of Serim Vina Co.Ltd. at VSIP II-A with a total registered capital of US$20million…

Striving to soon the set plan

The province has to date drawn 3,037 FDI projects with a total registered capital of more than US$30.66billion. Among them, 1,878 have flowed into province-based Ips with a total registered capital of US$19.52billion or 68% of the province’s FDI capital.

In 2018, the province will continue effectively taking measures in association with the program of “Improving investment attraction for the period of 2016-2020”; attach special importance to attracting projects in the fields of trading-services, urban development, hi-tech agriculture…

Kawaue Junichi, Consulate General of Japan in HCM city said: “Over the past years, the Japanese business community made more investment in Vietnam in general and Binh Duong in particular. We have put great faith on the local administration. The province has not only excelled at investment marketing, but also improved the local investment climate and supported businesses. In the coming time, the province will continue being an attractive destination for investors, especially ones in urban development, services and auxiliary industries…”.

Tran Thanh Liem, Vice-Secretary of provincial Party Committee, Chairman of provincial People’s Committee affirmed that sectors and authorities at all levels of the province will opportunely and effectively carry out policies on socio-economic development and international integration; mobilize all resources to further perfect infrastructure facilities; continue improving the local investment climate, promoting administrative procedures, increasing provincial-level competitiveness…He also stressed that provincial leaders have always listened to contributive ideas by investors in order to have appropriate solutions, aiming to further improve the local investment climate in the coming time.

The province has set 2018’s plan on attracting US$1.4billion in FDI capital. The province since early this year has till now lured US$435million in FDI capital. Vietnam has so far reached deep and wide integration with the world plus the Comprehensive and Progressive Agreement of Trans-Pacific Partnership (CPTPP) just signed. All will help the province get more opportunities in FDI attraction.

Reported by Khanh Vinh-Translated by K.T