Illustrative photo (Source: VNA)

Binh Duong (VNA) – Southern Binh Duong province attracted 1.097 billion USD in foreign direct investment (FDI) as of mid-June, equivalent to 78.3 percent of its yearly plan and up 8.3 percent against the same period of last year, according to the provincial People’s Committee.

A total of 113 new projects were licensed in the period with the total registered capital of nearly 731 million USD, while another 64 existing projects registered to increase capital by 367 million USD.

The manufacturing industry was the largest FDI recipient with over 1 billion USD. Meanwhile, the service sector saw 14 new and added capital projects with supplements of 83.6 million USD.

Singapore was the biggest foreign investor in Binh Duong during the first half of the year with seven new and eight added-capital projects, registering a total investment of 359.9 million USD. The Republic of Korea (RoK) ranked second with 149 million USD, while Japan came third with 84.89 million USD.

Notably, Binh Duong province has attracted numerous big projects which match its orientations and plans for local industrial development.

With these results, Binh Duong has attracted 2,700 FDI enterprises so far with a total registered investment of 24.75 billion USD.

In the time ahead, the province will continue accelerating investment promotion activities in key markets such as the US, the EU, Japan, the RoK, Singapore and Taiwan (China), in order to lure investment in centralised industrial zones with projects in supporting industries, taking advantage of Vietnam’s participation in free trade agreements, including the Trans-Pacific Partnership (TPP).

Besides, Binh Duong will pay attention to completing administrative procedure reforms towards publicity, transparency and simplicity, and improving the investment environment, aiming to create the most favourable conditions for enterprises.-VNA