Possibly speaking, FDI capital has greatly contributed to Binh Duong’s socio-economic development. The province has also taken effective measures to uphold this resource.
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A carton paper production line of Tomoku Vietnam Co.Ltd. at Ben Cat town-based My Phuoc 3 industrial park
Great contributions
During the development process, Binh Duong has always seen FDI capital as a motivation greatly contributing to the local economic development. Therefore, the province has effectively applied policies suitable to the local real situation. The province has focused on developing social and technical infrastructure in a synchronous way; better supplied services for enterprises’ production and business; reformed administrative procedures to create a favorable investment climate for enterprises’ investment…
Thanks to the above synchronous measures, Binh Duong has built up a favorable investment climate, helping it become a prominent locality on investment climate under investors’ point of view. In Q1 2015 alone, Binh Duong absorbed additional US$402mln in FDI capital. The province has so far lured 2,440 FDI projects with a total registered capital of more than US$20.8bln, helping it be among the country’s top five localities with FDI attraction surpassing US$20bln.
Mai Hung Dung, Director of provincial Department of Planning and Investment said that FDI capital has contributed to shifting the local labor and economic structure, helping the locality improve its industrial production ability with new industries created…FDI capital has also had positive impacts on social aspects, contributing to raising people’s annual income. Also from FDI capital, the province has step by step formed up a highly skilled workforce with industrial working lifestyle, contributing to expanding foreign relations and taking initiative in economic integration…
Attractive investment climate
The effectiveness from FDI capital in Binh Duong has greatly affected the local economic development, especially in creating a high value on industrial manufacture and export.
In 2014 alone, FDI capital in the province helped bring VND130.068bln in industrial production value, or nearly 69.4% of the local industrial production value and nearly US$14.62bln in export turnover or nearly 82.4% of the local export turnover. Moreover, the province has recently seen a rapid increase in FDI capital flowing into auxiliary industries, contributing to bringing its trade surplus to more than US$4bln last year.
Possibly speaking, among economic achievements after 40 years of the South’s Liberation Day, national reunification and 30 years of renewal, Binh Duong’s FDI attraction has properly reflected the local flexibly through calling for foreign investors and keeping them.
Yasufumi Kasuga, General Director of Japan’s Maruzen Foods Corporation said that after surveying Binh Duong’s investment climate, the corporation decided to make investment herein. The corporation poured US$104mln into production of nutritional food and beverage.
Meanwhile, Marcus IP, CEO of Nam Phuong Textile Company, a joint venture between Hong Kong’s Haputex Development Limited and Viet Huong Investment Development Joint Stock Company said that with the local administration’s help and attention, the company have felt secure and would strive to commission its US$120mln-fibre factory in 2015.
Under foreign investors’ point of view, according to Mr.Dung, Binh Duong always owns an ideal investment climate. With current measures, including mobilizing all resources to develop socio-economic development in a synchronous way; paying attention to comprehensively reforming administrative procedures; upgrading services for investors…, it is believed that FDI capital will continue strongly flowing into the province in 2015 and in the next years.
Reported by Ve Giang-Translated by K.T
