Binh Duong still an FDI magnet in the south
The additional 2.7 billion USD poured into Binh Duong in the first 10 months of 2022 has helped the southern industrial hub rank second in Vietnam in terms of foreign direct investment (FDI) attraction.
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| Vietnam-Singapore Industrial Park II in Binh Duong's Thu Dau Mot city. (Photo: VNA) |
The figure represents a year-on-year rise of 57%, according to the provincial People’s Committee.
In the period, manufacturing and processing drew the most from foreign investors, with 1.66 billion USD, accounting for 63.5% of the total registered capital. Real estate ranked second with 939 million USD, making up 35.8% of the total.
Denmark was the biggest investor of Binh Duong in the period under review, with 1.32 billion USD, followed by the Netherlands with 609 million USD, and China 258 million USD.
According to Chairman of the provincial People’s Committee Vo Van Minh, as of October 31, Binh Duong ranked second the country in FDI attraction, after Ho Chi Minh City, with 4.053 valid projects totaling 39.6 billion USD, or 9.3% of the nation’s total FDI.
Sixty-five nations and territories have registered to pour capital in the southern industrial hub, with Taiwan (China) ranking first with 859 projects totaling 6.27 billion USD. It is followed by Japan with 333 projects totaling 5.86 billion USD, and Singapore 277 projects and 5.4 billion USD.
In his recent working sessions with Binh Duong leaders, Preben Enef, General Director of LEGO Vietnam Technology Co. Ltd., which is investing 1.3 billion USD in a toy factory in Binh Duong, appreciated support from leaders of the province as well as ministries and sectors for the construction of the project.
The locality’s post-pandemic recovery and development efforts have also gained applause from the Republic of Korea Chamber of Commerce (KOCHAM) office in Binh Duong and the European Chamber of Commerce (EUROCHAM) in Vietnam.
(Source: VNA)
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