CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Investment / News
Binh Duong experiences a prosperous year in FDI attraction
Thao Le 09:29, 2017/12/14
The attraction of foreign direct investment (FDI) to the southern province of Binh Duong this year is very impressive with more than US$2.51 billion reported by the end of November.
According to the province’s Department of Planning and Investment, this registered
capital is 79 percent higher than the yearly plan and up 127 percent year-on- year. This
year, the province set a target of attracting $1.4 billion in FDI capital.
With the surge in the eleven months of this year, the total FDI capital to the province has
so far reached $28.28 billion. The capital was poured in 3,027 projects of investors from
64 countries and territories.
Japan’s AEON Canary supermarket in Binh Duong Province.
Japan’s AEON Canary supermarket in Binh Duong Province.
Taiwan (China) has so far surpassed Japan to become the province’s largest investor with
$5.8 billion, accounting for roughly 20 percent of the province’s total FDI capital.
Vu Ngoc Khiem, chief representative of Global Sources, a Hong-Kong based B2B media,
said that many FDI firms, especially those from Taiwan, had been expanding and shifting
their production to Vietnam, especially Binh Duong, which is home to manufacturers of
garments, textiles, furniture, shoes and hardware.
Binh Duong Province is Vietnam’s second-highest FDI recipient, following Ho Chi Minh
City.
To gain this success, Binh Duong has made great strides in improving its water and
power supply, road network, waste treatment facilities, and in providing available land
for new projects.
The province has invested a great deal in road infrastructure, facilitating connections with
Ho Chi Minh City, the Mekong Delta and the Central Highlands region.
Major transport routes, including Binh Duong Boulevard and My Phuoc-Tan Van
Highway, connect local Industrial Parks (IPs) with seaports and airports in the southern
region.
The province is also the leading province in the country in IPs, new urban areas and
services. In addition to the existing IPs, the province plans to open new industrial zones
to attract more foreign investment.
Today, the province is giving priority to FDI projects with high technology and large-
scale urban and service development projects.
Tran Thanh Liem, chairman of Binh Duong People’s Committee, said that the province
will issue a range of policies and incentives to further attract investment in hi-tech
industries and take advantage of the fourth industrial revolution.
Liem said that the improvement will be taken in administrative procedures, and land and
facility construction.
To create a better investment climate, the province’s leaders and authorities will also
regularly meet with investors and businesses to help them resolve problems.
“Improving the infrastructure system and creating an open dialogue with foreign investors are the keys to attracting investment,” Liem said.
Comments
Other news
12:17, 2025/02/25
Vietnam eyes top 3 in investment environment in ASEAN next 2 years: Party Chief
A key objective is to trim off at least 30% of administrative procedures and cut both business costs and unofficial fees.
18:03, 2025/02/22
Vietnam attracts South Korean tech investment at SEMICON Korea 2025
The event provided a platform for Vietnam to showcase its semiconductor potential and reaffirm its commitment to developing high-tech industries and strengthening international cooperation.
16:46, 2025/02/20
Swedish group plans US$1 billion investment in Binh Dinh recycling plant
By creating a large number of jobs and promoting a green economy, the initiative is important in establishing Vietnam as a global hub for the circular textile sector.
10:52, 2025/02/13
Samsung plans to invest in AI, semiconductors in Vietnam
Vietnam will continue improving its investment environment and driving strategic breakthroughs in order to usher in a new era of economic development.
17:20, 2025/02/07
Vietnam's data center construction costs among the lowest in Asia Pacific
The country has a lot of potential to become one of the most important data markets in the region.
21:05, 2025/02/03
Bright prospects for FDI inflows into Vietnam in 2025
Market size, growth potential, low labor costs, and stable political and social conditions continue to be Vietnam’s selling points in attracting foreign investors.