Binh Duong Takes Lead in Foreign Investment Attraction

4:39:17 PM | 23/3/2017

The People’s Committee of southern Binh Duong province attracted over US$1.34 billion in foreign-invested projects in the period from the beginning of this year to March 15, leading the country in foreign investment attraction.

Of the investments, US$793 million has been sourced by 43 new projects and the remaining comes from the capital adjustments of 14 existing projects.

A ceremony to grant investment licences was held at the province’s administrative centre building on March 22.

At the ceremony, 21 projects with a combined capital of over US$1.3 billion were granted with investment licences, including ten newly-registered foreign direct investment (FDI) projects with a total registered capital of US$740.7 million.

The province also granted licences to eight existing FDI projects with an additional US$536.1 million and three new domestic projects worth VND740 billion (US$32.8 million).

Speaking at the event, Chairman of the Binh Duong People’s Committee Tran Thanh Liem affirmed the projects granted with investment licences this time are specific manifestations of investors’ confidence and long-term commitment to the province.

Binh Duong continues to improve its investment environment, boosting administrative procedure reform and raising its provincial competitiveness capacity while implementing flexible solutions to support and facilitate businesses’ operations, he pledged.

The province has to date 2,892 foreign invested projects with a total investment of over US$27 billion. It ranks second in the country’s foreign investment attraction after Ho Chi Minh City.

In 2016, Binh Duong ranked fourth out of 63 provinces and cities in terms of the Provincial Competitiveness Index launched by the Vietnam Chamber of Commerce and Industry.