Illustrative image. (Source: VNA)

Binh Duong (VNA) – Some 1.7 billion USD in foreign direct investment (FDI) has been poured into southern Binh Duong province since the beginning of 2015, surpassing the yearly target by 70 percent and up 11.1 percent year on year.

According to the provincial People’s Committee, the province licensed 176 new FDI projects during the period, worth 966 million USD, and 734 million USD was added to 113 operational projects.

Chief among these is a 274-million-USD textile project run by Far Eastern Polytex Vietnam, a member of Taiwan’s Far Eastern Group, in Bau Bang Industrial Park. Another is a 50-million-USD wood factory of Samoa in the Thanh An industrial cluster.

An extra 130 million USD was pumped into the Vina Kraft Paper Ltd Co. in Ben Cat district. The Chanh Duong Paper Ltd Co. added more 74 million USD in investment.

Binh Duong is now home to 26 industrial parks, covering a total area of 8,800 hectares. The average occupancy rate is 65 percent.

The locality plans to lure 1.4 billion USD in FDI in 2016. It vowed to continue to improve the local business climate and its provincial Competitiveness Index by adding support to investors, stepping up administrative reforms and ensuring social welfare.-VNA