The province's foreign direct investment (FDI) attraction has shown signs of slowing down in recent months due to the impact of the Covid-19 pandemic. Amidst many difficulties, many FDI enterprises in the area are still trying to retain stability for revenue and export turnover to increase. Thereon, foreign investors' confidence has been strengthened.
Binh Duong continues to implement effective Covid-19 prevention and control measures while creating favorable conditions for FDI enterprises to recover, maintain and develop. In the photo: Production activities are at Orion Vina Food Co. Ltd.
Growth maintained
According to the latest data of Binh Duong Customs Department, by October 15, the province's total import and export turnover of goods reached USD 46.9 billion, increasing by 20% over the same period last year. Of the amounts, export turnover reached nearly USD 26.4 billion, increasing by 17.83% and import turnover reached USD 20.5 billion, increasing by 22.92%. For the result, in the first 9 months of 2021, import and export activities in the province are still maintained at a relatively high growth rate. In particular, the economic sector with foreign direct investment (FDI) had earned trade surplus of USD 2.7 billion.
Notably, in the overall growth rate, the FDI business sector continues to hold the leading role with the total import and export value of goods in the first nine months of 2021 reaching over USD 19.8 billion and gaining by 25.6%. Exports have been mainly intp traditional markets of the US, EU, South Korea, Japan, Taiwan, and Hong Kong. Most of the export items had still been maintained at a decent increasing rate over the same period. Of which, the export value of wood products in 9 months of 2021 was estimated at USD 4.9 billion, increasing by 28.1% over the same period and accounting for 20.3% of export turnover of the province; textiles and garments had export value at USD 1.98 billion, increasing by 10.5%; leather shoes at USD 1.4 billion, increasign by 14.4%; iron and steel of all kinds at USD 1.53 billion, increasing by 44.4%; computers, electronic products and components at USD 1 billion, increasing by 32.6% over the same period.
Ms. Le Thi Xuyen, General Director of Thuan An Wood Processing Joint Stock Company, said that wood products had still been leading the province in terms of export turnover until today as the US housing market has been tending to develop strongly. Therefore, Binh Duong wood processing enterprises had taken advantage of the opportunity to promote exports to the US market. More specifically, since the Vietnam - European Union Free Trade Agreement (EVFTA) officially took effect, the Vietnamese wood industry had expected to expand the consumption market in EU countries. The wood processing and export industry is still on a remarkable growing track despite the impact of the Covid-19 epidemic.
Optimistic signs
Although FDI attraction has been signalling to slow down in recent months, in the past 9 months, the province has still attracted USD 1.5 billion, an impressive figure. In which, new investment certificates had been granted to 44 projects with a total registered capital of USD 482.9 million and to 23 capital adjustment projects with total registered capital increased by USD 799.4 million, and capital contribution and share purchase of 81 project at a total capital of USD 225.4 million. Besides, many FDI enterprises continued to recover and maintain good production and business activities.
According to Eliseo Barcas, General Director of Tetra Pak Vietnam, even in the condition that the whole province is responding to the Covid-19 epidemic, there are still many FDI enterprises looking to invest, maintain or increase capital in Binh Duong. This shows that the province's FDI attraction still holds optimistic signals. Mr. Mai Ba Truoc, Director of the Department of Planning and Investment, said that the recent seminars and meetings to remove difficulties for FDI enterprises in the province have been highly appreciated as the quickly and effectively action in the prevention and control of the Covid-19 epidemic in Binh Duong.
In the first nine months of 2021, attracting FDI to the province increased by 25% over the same period and reached 83.8% of the target in the plan. FDI enterprises continue to lead the province's export growth. These are good signs in the context of the Covid-19 pandemic in Binh Duong as well as many provinces and cities across the nation, which are still experiencing complicated developments that significantly affect FDI inflows. Despite being affected by the Covid-19 epidemic, the province still attracts projects in line with the orientation set out in the local industrial development planning by developing a number of important economic sectors of the province such as processing and manufacturing industry. Besides, FDI enterprises are still an economic component contributing to Binh Duong's deep integration into international economic life.
Reported by Ngoc Thanh – Translated by Vi Bao
