Footwear is among Binh Duong’s key export items. (Source: baocongthuong)

Binh Duong (VNA) — The southern province of Binh Dương has recorded a trade surplus of 1.7 billion USD in the first quarter of 2017, thanks to businesses using locally-sourced raw materials for production.

During the first three months of the year, the province earned 6.36 billion USD from exports, mostly of wooden products, textiles and garments and footwear; while its imports came to 4.66 billion USD, a provincial People’s Committee report said.

The province also saw a breakthrough in attracting foreign direct investment (FDI). As of mid-March, it had lured more than 1.34 billion USD in FDI. Of the total, 793 million USD was from 43 newly licensed projects and the rest was from 18 projects that got additional capital.

To date, the province has attracted 2,890 foreign-invested projects worth around 27.1 billion USD, data revealed.

Between January and March, the province’s Index of Industrial Production rose by 7.3 percent compared to the same period last year. Its total revenue from retail trade and services reached around 39.6 trillion VND (1.74 billion USD) in the first quarter, up 19.7 percent year-on-year.

During this three-month period, the province approved the setting up of 966 new enterprises with a total investment capital of 5.39 trillion VND, while allowing 166 operating ones to raise their capital by a total of 3.73 trillion VND.

The committee said it would continue to improve the province’s investment and business climate and would hold dialogues with representatives of associations and enterprises to resolve the problems they are facing.-VNA