Binh Duong attracts US$1.5 billion in FDI in nine months

According to the provincial Department of Planning and Investment, local authorities licensed 188 new FDI projects worth US$999.8 million, while US$531.9 million was added to 93 operational projects during the period.

As much as 86.2% of the FDI was invested into local industrial parks (IPs) in the period.

The processing and manufacturing industries drew the most FDI in the period, absorbing about US$1.4 billion, 92.8% of total investment.

The service sector attracted more than US$108 million, 7% of the total, while only US$1.5 million or 0.1% of the total FDI was invested in agriculture.

Singapore was the largest investor with US$360.6 million, accounting for 23.6% of the FDI total, followed by the Republic of Korea and Japan with US$201.4 million and US$116.3 million, respectively.

Binh Duong has attracted 2,775 foreign-invested projects with total capital of over US$25 billion, including over US$16.6 billion in IPs. It is one of five localities nationwide with FDI above US$25 billion.

According to Nguyen Thanh Truc, Director of the department, the locality has worked hard to improve its investment climate.

The province has constructed 28 IPs covering over 9,000 hectares. In the next five years, the number of IPs is expected to increase to 34 on 14,790 hectares.

Binh Duong, one of the major industrial hubs in the south, is prioritising high technology FDI projects located in IPs to ensure environmental protection.