BINH DUONG

Binh Duong Makes Breakthroughs in FDI Attraction

11:38:42 AM | 7/8/2019

By the end of the first quarter of 2019, Binh Duong province ranked third in foreign direct investment (FDI) with 3,585 licensed projects and US$33.08 billion of registered capital after just Ho Chi Minh City and Hanoi.

The province drew US$772.9 million from foreign investors in the first quarter of 2019, up 37% from the same period of 2018 and equal to 55.2% of the full-year plan.

Specifically, the province licensed 62 new projects with US$363.9 million, up 17% year on year, allowed 33 projects to add US$268.7 million, up 46% year on year, permitted 50 projects to buy shares or contribute capital with US$140 million, down 1%.

By invested location, industrial parks attracted US$592 million, up 24% year on year, including US$306.7 million from 54 new projects, US$168.8 million from 24 existing projects and US$116.4 million from 22 portfolio investment projects. Investment projects in industrial zones accounted for 76.6% of the total FDI fund in the province in the reviewed period.

Other destinations drew US$180.8 million in the period, up 114% year on year, including US$57 million from eight fresh projects, US$99.9 million from nine existing projects and US$23.7 million from 28 portfolio investment projects.

By industry, the processing and manufacturing sector was still the biggest recipient of foreign investment of US$605.3 million (78.32% of the total registered value) from 54 new projects, 32 existing projects that changed their investment scale and 42 portfolio investment projects. The trade and service sector was the second biggest recipient with US$167.6 million, accounting for 21.68% of the share.

By investor, 22 countries and territories registered to invest in Binh Duong province in the first three months of 2019. Samoa was the biggest investor with US$154.2 million, accounting for 20% of the total registered foreign investment fund. The runner-up was the Netherlands with US$105.8 million, accounting for 13.7%, followed by Singapore and Hong Kong.

Some typical big projects included Project 08 and Project 09 (US$105.8 million) invested by BW Thoi Hoa Industrial Development Co., Ltd in Thoi Hoa Industrial Park; US$43.1 million Dat Phuoc Apartment Project in Thuan An Town; and US$40 million factory expansion projects invested by KyungBang Vietnam Co., Ltd. in Bau Bang Industrial Park.

In summary, Binh Duong ranked third in the country (after Ho Chi Minh City and Hanoi) in foreign investment with 3,585 projects and US$33.08 billion (including portfolio investment) as of March 31, 2019. On average, a project costs about US$9.1 million of investment capital. Industrial parks attracted 2,223 projects with US$ 21.3 billion, accounting for 65.7% of the province’s foreign direct investment capital.

Taiwan (China) is the largest foreign investor with more than US$5.34 billion invested in 835 projects, accounting for 16.2% of the province’s total FDI fund. Japan is the second investor with 296 projects and US$5.1 billion (15.6% of the share) and Singapore ranked third with 236 projects and more than US$4.3 billion (13% of the share).

Hien Luong

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