Early September 16, provincial People’s Committee held a ceremony to hand over investment licenses to 42 domestic and FDI projects. Provincial People’s Committee Chairman Le Thanh Cung said that with this event, Binh Duong has been among the country’s four localities with FDI attraction exceeding US$20bln.
Effective investment climate
At the ceremony, Mr.Cung granted investment licenses to 42 domestic and FDI projects, including 37 new FDI projects and extra-ones with a total registered capital of more than US$379mln and 5 domestic ones with a total registered capital of VND4.932trillion. Most of them focus on industrial manufacture.
Car components being manufactured at the South Korean-invested Suntech Vina Co.Ltd.
Among the 16 newly-licensed projects, the project of Nam Phuong Textile Joint Venture Co.Ltd. has the most largest investment capital. This is a joint venture between Hongkong’s Haputex Development Co.Ltd. and Viet Huong Investment & Development Joint Stock Co. to build a fabric factory capitalized at US$120mln. The project is divided into three phases: first phase with the annual capacity of 36 mln meters of fabric a year; second phase, 72 mln meters of fabric a year; third phase, 96 mln meters of fabric a year.
Many FDI enterprises in the province have also decided to raise their capital investment for production expansion. The Thian San, General Director of Esquel Garment Manufacturing
9-month FDI capital beyond 40% of yearly plan
Since early this year, the province has absorbed additional US$1.4bln in FDI capital. This figure has brought total FDI capital flowing into the province so far to more than US$20.2bln with 2,344 FDI projects.
With the above result, Binh Duong has become the country’s fourth locality with FDI attraction surpassing US$20bln after HCM city (5,040 projects capitalized at nearly US$36bln, Ba Ria-Vung Tau ( 299 projects worth nearly US$26.7bln) and Ha Noi (2,898 projects totaling more than US$23.3bln).
Mr.Cung said that with the result of absorbing US$1.4bln in FDI capital in the first nine months of the year, Binh Duong has surpassed 40% of the yearly plan in FDI attraction. Also according to him, in addition to taking measures about investment attraction, sectors and authorities at all levels of the province have always listened to associations and investors’ contributive ideas for timely solutions, creating a more favorable investment climate.
To absorb more investors, the province has continued taking measures, including focusing on luring hi-tech projects and auxiliary ones. The province will also further create favorable conditions for enterprises that have worked effectively; concentrate on luring auxiliary industries…Besides, the province has actively zoned areas specialized in manufacturing production materials to better serve investors when Vietnam joins the Trans-Pacific Strategic Economic Partnership Agreement (TPP)…
Such these apart, the province has determined to make administrative reform in all steps while effectively applying a “one-door” and “connective” mechanism at provincial
Reported by T.Minh-M.Duy-Translated by K.T
