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Vietnam Today

Q1 FDI in Binh Duong up 250%

Released at: 16:36, 23/03/2017

Q1 FDI in Binh Duong up 250%

A Vietnam - Singamore Industrial Park in Binh Duong. Photo: cafebiz.vn

Southern province attracts $1.34 billion in FDI in first quarter, or 96% of annual target.

by Hai Van

Southern Binh Duong province attracted $1.34 billion in foreign direct investment in the first quarter of this year, or 96 per cent the 2017 target, taking it to the second place in total FDI attraction, behind Ho Chi Minh City.

Chairman of the Binh Duong Provincial People’s Committee, Mr. Tran Thanh Liem, presented investment certificates on March 22 to 21 FDI projects with total capital of $1.3 billion. Ten of these had total registered capital of $740.7 million, while eight existing projects increased their capital by $536.1 million and three new projects had total investment capital of VND740 billion ($32.54 million).

Major projects being licensed included the Vietnam-Singapore Industrial Park 3, a 1,000-ha project with capital of over VND6.4 trillion ($280.1 million), and a project building a packaging plant belonging to the Binh Duong Tetra Pak Joint Stock Company, with investment capital of more than VND2.7 trillion ($118.45 million), at the Vietnam-Singapore Industrial Park II.

The province targeted attracting $1.4 billion worth of FDI in 2017. The $1.34 billion attracted in the first quarter represented an increase of 250 per cent year-on-year. It now has 2,892 FDI projects with total capital of more than $27 billion, second only to Ho Chi Minh City.

Mr. Liem noted that the Vietnam Chamber of Commerce and Industry (VCCI) and the US Agency for International Development (USAID) recently released the Provincial Competitiveness Index (PCI) 2016, in which Binh Duong jumped from No.25 in 2015 to No.4.

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