Part 1: An overal picture during past 20 years
Binh Duong’s economy has over time reaped a fast and strong growth. FDI capital has greatly contributed to the success. During the past 20 years, FDI attraction has created a driving force for Binh Duong’s socio-economic development, helping Binh Duong become one of the country’s localities with the strongest growth in industrial manufacture.
Increase both in quantity and quality
Binh Duong has been among top five localities in FDI capital after over 20 years of FDI attraction. As of August 31, 2012, Binh Duong has absorbed 2,093 investment projects with a total registered capital of around US$17.12bln, ranking fourth in the country after HCM city, Ha Noi and Dong Nai.
In 2012, Binh Duong has further lured additional new
FDI projectsAccording to provincial Department of Planning and
Investment (DoPI), industrial manufacture has lured the most projects with
2,060, accounting for 92.7% of total project number and 71% of total investment
capital. Real estate has accounted for 15.58% of total investment capital while
construction-service have accounted for 4.86% of total investment capital…
Le Viet Dung, Deputy Director of provincial DoPI said that Binh Duong has so far lured investors from 36 countries and territories in the world. Taiwan took the lead in the investment project number in Binh Duong with 758 projects and total registered capital of US$3.784bln between 1989 and 2011, followed by South Korea with 495 projects capitalized at US$1.747bln. Noticeably, Japan has so far ranked second in investment capital with 171 projects capitalized at over VND3.1bln.
Binh Duong has also drawn many projects from investors in Europe and North America. They have brought Binh Duong a new “gust of wind” in terms of state-of-the-art technology and advanced management, contributing to promoting the province’s industrialization and modernization process.
Investment under plan
Mr.Dung said that most of FDI projects in Binh Duong have been arranged in industrial parks and compounds in accordance with the local plans.
With good planning, Thuan An, Di An town and Ben Cat district accounted for 64.24% of total project number and 66% of total investment capital during the 1989 and 2011 period. Investment projects herein focused on industrial manufacture and were mostly in industrial parks, namely Song Than 1, Song Than 2, Binh Duong, Dong An, VSIP 1, My Phuoc 1, My Phuoc 2, My Phuoc 2, Bau Bang…
Thanks to having a favorable geographical position, Thuan An, Di An towns and Ben Cat district played an important role in FDI attraction as the majority of FDI capital between 1990 and 2011 focused on industrial manufacture and sevices.
Other localities, namely Tan Uyen, Dau Tieng and Phu Giao, also attracted many FDI projects with main fields in terms of agricultural production, building material production, farm produce processing…in the 1990 and 2006 period. Since 2006, FDI projects herein have concentrated on woodwork processing, supportive industries...
Since 1990, Binh Duong’s FDI attraction has reaped great change, but it has seen the strongest growth since 2006 with each project’s average investment capital reaching around US$8mln, up US$3mln compared to the previous time. This is because Binh Duong has recently lured some large-scale projects in the fields of real estate and infrastructure.
In the first eight months of 2012, Binh Duong has also drawn additional 75 FDI projects capitalized at more than US$1.5bln and 81 extra-ones with US$850mln.
Binh Duong now remains an attractive destination for foreign investors, due to good leadership, well-built infrastructure, reformed administration procedures and a favorable geographical position.
Reported by Trong Minh-Translated by K.T
