The southern province of Binh Duong has lured over three billion USD in FDI since the beginning of 2015, tripling the yearly target of one billion USD.
A Japanese-invested garment-textile factory in Binh Duong province (Photo: VNA)
Binh Duong (VNA) 💫– The southern province of Binh Duong has lured over three billion USD in FDI since the beginning of 2015, tripling the yearly target of one billion USD, said the provincial Planning and Investment Department.
One of the largest projects this year is a 22.7 trillion VND (1.035 billion USD) paper manufacturing plant run by the Cheng Loong Group of China’s Taiwan in Singapore Ascendas-Protrade industrial park. The project is expected to start construction in late December this year.
Provincial Party Committee Secretary Tran Van Nam said the province has made good preparations in terms of investment policy and mechanism, industrial park infrastructure and transportation network in order to attracting more domestic and foreign investors.
According to Nam, after the Trans-Pacific-Partnership (TPP) agreement takes effect, the province will continue to attract FDI capital, shifting priority to modern technical investment and environmentally friendly projects.
The province is working on planning for 35 industrial parks and industrial clusters, focusing on supporting industry with a view to minimizing dependence on import materials for products to benefit from the TPP such as garment and textile, and footwear.
Binh Duong’s urbanization rate has surpassed 76 percent. The province aims to fully achieve the industrialization target in the next five years.
The province is now home to 26 industrial parks, covering a total area of 8,800 hectares. The average occupancy rate is 65 percent.
The locality plans to lure 1.4 billion USD in FDI in 2016. It vowed to continue to improve the local business climate and its provincial Competitiveness Index by adding support to investors, stepping up administrative reforms and ensuring social welfare.-VNA
The southern province of Binh Duong attracted nearly 1.5 billion USD in foreign direct investment (FDI) in the first nine months of this year, up 27 percent from the same period last year.
The southern province of Binh Duong moves to attract hi-tech and environmentally-friendly investment projects into industrial parks to serve its sustainable development through 2020.
Disbursement of foreign direct investment (FDI) in Vietnam reached an estimated 13.2 billion USD from the beginning of 2015 until November 20, up 17.9 percent against 2014.
Some 1.7 billion USD in FDI has been poured into southern Binh Duong province since the beginning of 2015, surpassing the yearly target by 70 percent and up 11.1 percent year on year.
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A Japanese-invested garment-textile factory in Binh Duong province (Photo: VNA)
