Binh Duong Eyes Migger FDI

5:04:25 PM | 20/10/2010

The southern province of Binh Duong attracted US$700 million in foreign direct investment (FDI) in the first 9 months of this year and targets US$5 billion in 2011-2015.
Mr Le Viet Dung, Deputy Director of the provincial Department of Planning and Investment, said the province has recently enticed big FDI projects on industry, services, real estate and hi-tech.
Some noticeable projects are the US $360 million project on producing automobile frames (Kumho Asiana from the Republic of Korea), the US $140-million project on high-grade packaging materials (phase 1) of SCG Siam Cement from Thailand, and the US $620-million Mỹ Phước eco-urban area invested by SP Setia Berhad from Malaysia and Becamex IDC from Vietnam.
Mr. Paik In Ki, President of the Korean Investment Association in Binh Duong, said the province’s investment environment is really good when infrastructure is frequently improved and local authorities always accompany investors.
In 2011-2015, Binh Duong is planning to gain an economic growth value of VND 240,000 billion, in which the FDI sector contributes 49.9 %. (VGP)