As one of the country’s top localities in industrial development and investment attraction, Binh Duong is striving to implement various solutions to attract foreign direct investment (FDI) into the high-tech sector. This aims at creating more added value, benefiting the locality, businesses and workers.
Increasing quality projects
In the first seven months of 2024, Binh Duong attracted US$1.065 billion in FDI. To date, the province has lured 4,342 FDI projects with total capital of US$40.9 billion. Regarding domestic investment, Binh Duong has attracted additional VND 47.51 trillion, bringing the total number of enterprises in the province to 70,500 with total capital of VND 774,000 billion.
Binh Duong is striving to attract more high-quality projects. In picture: Provincial leaders exchange views with foreign businesses at a recent dialogue
Pham Trong Nhan, Director of provincial Department of Planning and Investment stated that investment capital has significantly contributed to the province's economic growth, becoming a key factor driving exports, technological innovation, productivity increase and job creation. In recent years, FDI flows into the province have become higher in quality, greener and smarter.
To date, province-based industrial parks have high occupancy rates, helping Binh Duong remain among the country’s leading localities in FDI attraction and industrial development. However, despite the growth of the business community in Binh Duong, many enterprises have still operated in labor-intensive, low-value-added fields. Additionally, investment activities in the province have faced challenges, due to negative impacts from global events...
These challenges are being actively addressed by the province.
Increasing new attraction
Pang Te Cheng, Consul General of Singapore in Ho Chi Minh city has spoken highly of Binh Duong’s dynamic development and investment environment. According to him, investors are very impressed with the achievements and investment potential of the province, espencially its well-invested, modern infrastructure and traffic system.
Binh Duong, an attractive destination for high quality investment projects. Production activities at IGB Automotive Vietnam Co., Ltd. In Song Than 3 Industrial Park
To share and support businesses in overcoming difficulties, provincial leaders have held many meetings and dialogues to create favorable conditions for businesses to work stably. During these dialogues and investment promotion events, most businesses said that despite the negative impacts of global events, Binh Duog remains an attractive investment destination for foreign investors.
Mai Hung Dung, Permanent Vice Chairman of provincial People's Committee stated that in order to continue being an attractive destination for investors, Binh Duong is striving to implement regional traffic infrastructure projects, make planning for industrial parks and compounds, redesign development space and attract high-quality FDI. Alongside this, the province is promoting digital transformation, green economy, and circular economy in line with sustainable development goals for the new era, creating new growth opportunities in the medium and long term.
“Binh Duong will further strive to attract more high-quality projects to the locality. To achieve sustainable industrial development, create breakthrough production, and foundational infrastructure for forming up an innovation ecosystem, attracting high-value-added investment projects and laying the premise for high-tech production, the province has implemented the “Innovation Region” project, which includes building a science and technology industrial park”, said Mr. Dung.
Reported by Ngoc Thanh-Translated by Kim Tin
