In the past years, Binh Duong has always improved its investment and business environment in order to attract more investment to serve the province's socio-economic development needs. Thus, Binh Duong has become an attractive destination for domestic and foreign investment.
Nearly 82% poured into industries
It can be said that investment flows have played an important role in the growth of the economy and a driving force for industry, trade and services. In Binh Duong, there are nearly 82% of total investment in the province in the field of industrial production. In the 2011-2017, the FDI sector contributes over 67% of the province's industrial production value.
Production activities at Kaiser Wood Company (My Phuoc Industrial Park I, Ben Cat District). Photo: Xuan Thi
In 2018, the investment capital in Binh Duong will continue to grow steadily, despite facing many difficulties and challenges. According to the provincial People's Committee, in the first two quarters of 2018, the industrial zones in the province have leased land and workshops with a total area of 95 hectares, attracted FDI capital reached nearly $ 600 million, exports reached 8.5 USD billion (accounted for 76% of export value of the whole province). Binh Duong is currently constructing a number of new and expanded industrial parks, continuing to invest in infrastructure, marketing and calling for investment in industrial parks and industrial clusters in the area.
In the first 6 months of 2018, the total investment capital for social development of Binh Duong is estimated at VND 33,272 billion, up 11.1% over the same period last year. Up to June 15, capital construction investment in the province has total value of public investment capital is 1,345 billion, reaching 18% of the plan; of which the local budget was 17.5% of the plan, the central budget reached 21.2% of the plan. The province has attracted 27.500 billion dongs of domestic investment (32.3% over the same period). To date, the province has 33,355 domestic enterprises with a total registered capital of 264.725 billion dongs. Particularly, FDI, Binh Duong has attracted US$ 728.8 million (reaching 52% of the year plan). Up to now, the province has 3,389 FDI projects with a total registered capital of US$ 30.83 billion.
Investment environment continually improved
It can be said that the investment flow into Binh Duong stable growth in recent years is a good signal for the province. Capital inflows have attracted new industries using modern technology and spillover effects, enhancing the capacity of many other industries. Some industries such as metal production, precast metal; production of furniture, furniture; food production and processing; production of chemicals, pharmaceuticals etc. of the province has high value and a strong increase. With many large projects completed and put into production, promoting investment efficiency, industrial growth and increased trade and services have contributed to promoting the economic restructuring of the province. in the direction of industrialization and modernization.
Investment flows, particularly FDI, have contributed to economic restructuring and capacity building in Binh Duong, with nearly 82% of total FDI in the manufacturing sector. Binh Duong is aiming at sustainable economic development, in association with environmental protection. FDI projects have been positively impacted on the economic restructuring of the province in line with the orientation of industrial and service development, reducing the proportion of agriculture, increasing incomes for people, increasing budget revenue for local. Thanks to good investment attraction, FDI projects have achieved great results and Binh Duong has developed rapidly, becoming one of the most dynamic provinces and cities in the country.
According to Tran Thanh Liem, Deputy Secretary of the Provincial Party Committee, Chairman of the provincial People's Committee, in recent years, although the investment attraction has achieved many good results, Binh Duong continues to improve the investment environment, Business to strengthen the call for resources for local socio-economic development. In the coming time, leaders of the province and at all levels and branches will timely and effectively implement policies on socio-economic development and international economic integration, mobilize all resources to continue. To invest in the construction and improvement of technical infrastructure; Together with that, we will continue to improve the investment environment, accelerate the reform of administrative procedures and improve the provincial competitiveness.
Reported by Khanh Vinh – Translated by Vi Bao
