The Resolution of the 10th provincial Party Congress for the 2015-2020 tenure has set a target of absorbing US$7billion in FDI capital within 5 years. But, only after 15 months, the province lured more than US$3.6billion, getting over 50% of the targets of the whole tenure. The result shows that the province continues being an attractive destination for foreign investors.
Well upholding potential
So far, Binh Duong has been among top 5 provinces, cities absorbing more than US$20billion in FDI capital and reached major achievements, reshaping the local image. The result has not only come from flexibility, creativeness of provincial leaders, but also from great contributions by the local sector of planning-investment.
Over the past years, Binh Duong well realized a task of absorbing all resources, especially FDI capital for the local development. This helped Binh Duong reach important achievements in all aspects and become one of the country’s localities with the most flexible development. In 2016 alone, the province lured US$1.4billion in FDI capital or 96% of the year’s plan. Thus, only within first 15 months of the five-year tenure, the province reached 50% of the set target in FDI attraction. FDI capital continues being an important resource in the local socio-economic development process, contributing to improving the lives of locals from all strata.
Tran Thanh Liem, Vice-Secretary of provincial Party Committee, Chairman of provincial People’s Committee said that over the past time, the province took advantage of the local potential while being always flexible in thought and action. The province also paid attention to developing infrastructure facilities; supplying better and better services, absorbing and training human resources; reforming administrative procedures; making compensation-site clearance, creating great clean fund to welcome investors…All helped the local investment climate get better, contributing to attracting more investors over the past time.
Further improving investment climate
Provincial People’s Committee has always attached special importance to helping enterprises remove their obstacles in business and production through dialogues.
Although obtaining successes in investment attraction, Binh Duong has still made efforts in improving the local investment climate in order to be always a reliable and attractive destination for foreign investors. According to Mr.Liem, Binh Duong needs to try harder in investment attraction for the local development. Speaking at a recent ceremony handing over licenses to investors, he affirmed that investment projects granted licenses in this stage continued being a concrete demonstration for the trust and long-term commitment of investors to the province while showing the attention, responsibility of provincial leaders to the business community.
Also according to provincial leaders, Binh Duong continues being a reliable and attractive destination for investors. The province will further focus on opportunely and effectively implementing policies on socio-economic development and international integration; mobilize all resources to build and perfect infrastructure facilities. Additionally, the province will continue improving the local investment climate, boost administrative reform, improve provincial-level competitiveness; flexibly take solutions to help enterprises remove their obstacles, facilitating their production-business activities.
According to a report released by the Foreign Investment Agency under the Ministry of Planning and Investment, Binh Duong ranked second in FDI attraction only after northern Bac Ninh province in the first four months of 2017.
During the period, foreign investors poured US$ 10.95 billion into new and operational FDI projects and to buy stakes in local companies in the first four months of 2017, up 40.5% from last year’s same period. Of that amount, US$4.8billion was disbursed, up 3.2% compared to last year’s same period.
The processing and manufacturing sector took the lead in attracting FDI with US$7.36 billion. It was followed by mining, retail and wholesale sectors. Among 83 nations and territories investing in Viet Nam, the Republic of Korea was the largest investor with US$4.05 billion. Japan came in second, followed by Singapore…
Reported by Khanh Vinh-Translated by K.T
