At Vietnam - Japan Company in Binh Duong Province (Photo: VNA)
Binh Duong (VNA) – The southern province of Binh Duong has set creating a favourable business environment a top priority to attract investment and improve its provincial competitiveness index (PCI).

The move is part of an investment attraction programme in the period 2016 – 2020, according to Mai Hung Dung, Vice Chairman of the provincial People’ Committee.

Accordingly, the province will hold more dialogues with enterprises to resolve problems they are facing and boost administrative procedure reform, including single-window system and online administration services.

Binh Duong has to date had 2,890 foreign direct investment (FDI) projects worth 27.1 billion USD.

In the first three months, the locality attracted over 1.34 billion USD of FDI capital. Of the total, 793 million USD was from 43 newly licensed projects and the rest was from 18 projects that got additional capital.

It is also home to over 26,500 domestic firms with a total registered capital of 198.2 trillion VND (about 8.7 billion USD).

During the first quarter, the province approved the setting up of 966 new enterprises with a total investment capital of 5.39 trillion VND (about 237.3 million USD), while allowing 166 operating ones to raise their capital by a total of 3.73 trillion VND (164 .1 million USD).

Binh Duong plans to attract partners with strong economic potentials to industries with high technology and high-added value, agro-industry and support industry.

Regarding domestic investment, the locality aims to have 23,000 new projects worth 110 trillion VND, doubling the period of 2011 – 2015.

It also will give priority to investment into industrial parks with well-prepared infrastructure. –VNA