Binh Duong Attracts US$25 Billion in FDI

The southern province of Binh Duong has so far attracted 2,713 foreign-invested projects with a total capital of around US$25 billion, including US$16 billion distributed to 1,635 projects that are underway in industrial parks (IP).

According to deputy head of the Binh Duong Committee for Industrial Park Management Board Bui Minh Tri, the FDI projects, mostly small and medium-sized ones, have employed over 360,000 locals.

Since early this year, more than US$618 million of FDI has been invested into the construction of factories in IPs, he added.

Meanwhile, Director of the provincial Department of Planning and Investment Nguyen Thanh Truc revealed that the province has nearly fulfilled the yearly target for FDI attraction, adding that a total of over US$1.1 billion in FDI has been licensed to be invested into 126 new projects and 68 projects currently underway.

The number of new projects located in IPs across the provinces stands at 99, worth US$709 million, and 46 projects underway added US$276 million in investment capital, Truc said.

So far, the province has constructed 28 IPs covering more than 9,000 hectares. In the next five years, the number of IPs is expected to increase to 34 taking up a total area of 14,790 hectares.

A 300 hectare IP in Bau Bang district will also be built to host firms in the support industry for the apparel sector, as part of efforts to take advantage of investment flow after the Trans-Pacific Partnership is signed.

Currently, the province, one of the major industrial hubs in the south, is prioritising FDI projects utilising high technology and located in IPs to ensure environmental protection, said Tri.

NDO/VNA