Illustrative image (Source: VNA)
Binh Duong (VNA) – Some 1.5 billion USD in foreign direct investment (FDI) has been poured into southern Binh Duong province over the last nine months, mainly in the processing and manufacturing industries.

According to the provincial Department of Planning and Investment, local authorities licensed 188 new FDI projects worth 999.8 million USD, while 531.9 million USD was added to 93 operational projects during the period

As much as 86.2 percent of the FDI was invested into local industrial parks (IPs) in the period.

The processing and manufacturing industries drew the most FDI in the period, absorbing about 1.4 billion USD, 92.8 percent of total investment.

The service sector attracted more than 108 million USD, 7 percent of the total, while only 1.5 million USD or 0.1 percent of the total FDI was invested in agriculture.

Singapore was the largest investor with 360.6 million USD, accounting for 23.6 percent of the FDI total, followed by the Republic of Korea and Japan with 201.4 million USD and 116.3 million USD, respectively.

Binh Duong has attracted 2,775 foreign-invested projects with total capital of over 25 billion USD, including over 16.6 billion USD in IPs. It is one of five localities nationwide with FDI above 25 billion USD.

According to Nguyen Thanh Truc, Director of the department, the locality has worked hard to improve its investment climate.

The province has constructed 28 IPs covering over 9,000 hectares. In the next five years, the number of IPs is expected to increase to 34 on 14,790 hectares.

Binh Duong, one of the major industrial hubs in the south, is prioritising high technology FDI projects located in IPs to ensure environmental protection.-VNA