Binh Duong lures additional US$1 billion of investment
The People’s Committee of Binh Duong province has granted in-principle approval and investment certificates to seven foreign-invested projects, with a total registered capital of US$1 billion.
Among them, the Vietnam-Singapore Industrial Park Joint Venture Co., Ltd. (VSIP) has received investment licenses for two industrial park infrastructure projects. These include a US$341.2 million investment in the Vietnam-Singapore Industrial Park III (VSIP III) and a US$471 million investment in a new urban area project by the VSIP Binh Duong Residential Development Co., Ltd. The total investment of the two projects is US$812.2 million.
In addition, two newly approved investment projects, worth a total of US$53 million, belong to the Timotion Vietnam Limited Liability Company and Axman Vietnam Co., Ltd., both located in VSIP III Industrial Park.
The province has also approved capital expansion for three existing projects with a combined capital of US$105 million. These include a US$50 million capital addition for the Cheng Loong Binh Duong Paper Co., Ltd. in Protrade Industrial Park, a US$40.2 million expansion for the Deneast Vietnam Co., Ltd. in VSIP IIA Industrial Park, and a US$15 million increase for the Dongil Rubber Belt Vietnam Co., Ltd. in Bau Bang Industrial Park.
Chairman of the Binh Duong People's Committee Vo Van Minh reaffirmed the province’s commitment to supporting investors and businesses, maximising its advantages, and seizing opportunities for strong and sustainable growth, positioning Binh Duong as a leading investment destination in the region.
On this occasion, local authorities also approved investment policies for seven social housing projects, comprising 9,240 apartments, with a total investment of VND8.4 trillion (US$332 million).
