Binh Duong lures US$386 mln in first two months

Over 71 percent of the funds, or US$274.6 million, were pumped into 27 newly-registered projects, while the remaining was added to operational ones.

According to the provincial Department of Planning and Investment, the locality has so far attracted US$24 billion for 2,614 FDI projects by investors from 40 countries and territories. Japan led the way, followed by Taiwan (China), the Republic of Korea and Singapore.

The province expects to welcome a new wave of investment from overseas, particularly in textile and garments over the next five years, as the Trans-Pacific Partnership takes effect.

Binh Duong’s success story in investment attraction is owed to the province’s effort to improve local transportation infrastructure and develop the infrastructure of dozens of industrial parks, said Chairman of the provincial People’s Committee Tran Thanh Liem.

The locality has also focused on simplifying administration, notably with a one-stop-shop model which has benefited foreign investors in obtaining investment and land use rights licenses, he added.