ASEAN KEY DESTINATIONS
Binh Duong leads country in FDI attraction
The southern province of Binh Duong has seen a strong inflow of foreign direct investment (FDI), with US$815 million registered in the locality.
According to Binh Duong People's Committee, the latest addition has helped the province to fulfill 82 per cent of its yearly FDI target in the first five months of this year and become the country's leading locality in terms of FDI attraction.
The committee also stated that in May alone, the province attracted $65 million in FDI, a significant amount from Japan, South Korea, Hong Kong and Taiwan.
Despite the current economic difficulties, the influx of FDI into the province has proved the attraction of its investment environment in the eyes of foreign investors, experts have noted.
Hang Vay Chi, an investor of Viet Huong I and II industrial zones, in the province agreed, adding that the majority of investors highly appreciated the province's investment environment with a sufficient source of "clean land" and abundant personnel resources, and they were looking forward to new investment opportunities in the locality.
Binh Duong, as a major FDI recipient, planned to attract more FDI by facilitating current investors, Chairman of the provincial People's Committee Le Thanh Cung claimed.
The province is now home to 2,255 valid foreign-invested projects, worth a combined $20 billion. In 2013, foreign-invested sectors contributed about 75 per cent of the province's industrial production value and 80 per cent of Binh Duong's $16 billion of export turnover.
The province's Department of Planning and Investment Mai Hung Dung stated that the accomplishment was because of regular dialogues between the authorities and the business circle to remove all obstacles, improve the administrative process and enhance mutual trust.
Industrial parks that meet the various demands of investors and the newly opened administration centre were also asked to attract investments. Additionally, another investment attraction channel was through businesses running in the province that have updated their partners on local conditions.
From now to 2030, Binh Duong will build industrial parks covering thousands of hectares. It will also step up training a quality workforce to satisfy the demand of technology projects.
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