Binh Duong’s FDI attraction surpasses yearly target
The southern province of Binh Duong attracted US$1.49 billion in foreign direct investment (FDI) in the first eight months of 2013, surpassing its target of US$1 billion set for this year.
During the period, the province licensed 88 new FDI projects worth US$648 million, bringing its total FDI projects to 2,174 with combined investment of over US$18.4 billion. It also saw US$400 million added to 88 existing projects.
This year, Binh Duong province has seen more investment from large groups, not only operating in industrial production but also real estate and services.
Among new outstanding projects are the Hoa Binh-Binh Duong VSIP Complex with a total investment of US$199 million and Japan-based Panasonic Eco Solutions Vietnam Company’s US$38 million electric equipment project in VSIP industrial park.
In order to lure more foreign investment in the coming time, the locality continues to boost administrative procedure reform and enhance investment promotion through consulates, trade offices and business communities while improving the quality of workforce and services and ensuring security and social order and safety, especially in industrial parks.
Besides, Binh Duong will also pay more attention to attracting new investment projects in high-tech industries such as electricity, electronics, pharmaceutics and precision mechanics as well as giving priority to developing support industries for garment, footwear and woodwork and services such as health, education and banking.