Binh Duong industrial parks prepare for growing FDI flows
The southern province of Binh Duong, which is a major destination for foreign investment in Vietnam, has been focusing on developing industrial parks.
The parks are quickly building technical infrastructure: since the start of this year businesses have invested VND146 billion (US$6.3 million) in infrastructure, 3.8% more than in the same period last year.
Infrastructure work is nearing completion at the upcoming Vietnam - Singapore Industrial Park III, which will open to investors in the near future.
The 1,000-hectare park, which has seen over VND6.4 trillion invested in its infrastructure, is expected to be a green industrial park, and will only house factories that are modern and environment-friendly.
Nguyen Thanh Truc, Vice Chairman of the province People's Committee, said besides supporting industries, Binh Duong focuses on industries that are hi-tech, environment-friendly and have high value-addition.
Binh Duong is among the top three destinations for FDI, accounting for 9.2% of the country's total.
Japan is the top investor among the 65 countries and territories that are in the province.
Hideyuki Okada, chairman of the Japanese Business Association in HCM City, said Binh Duong was one of the best places in Vietnam for Japanese businesses.
The province attracted more than US$1.2 billion worth of FDI in the first nine months of this year, with nearly 70% invested in industrial parks.
