Illustrative image (Source: VNA)
Hanoi (VNA) – The southeastern region remains the most attractive destination for foreign direct investment (FDI) in Vietnam.

According to the Foreign Investment Agency under the Ministry of Planning and Investment, the region had three out of the five localities nationwide drawing the most foreign investment in 2016.

Ho Chi Minh City led with 836 newly-licensed projects, 222 existing ones with capital adjustment, and 1,935 others with foreign investors’ stakes.

Total newly-registered and increased capital was estimated at 3.42 billion USD in 2016, accounting for 14 percent of the country’s total foreign investment.

As a dynamic trade centre, HCM City lured FDI in various fields including real estate, wholesales, information and communication, food and beverage services.

The municipal statistics office said HCM City has 6,000 projects with total registered capital of 40.6 billion USD.

Meanwhile, Binh Duong and Dong Nai came fourth and fifth with respective total newly-registered and increased capital of 2.36 billion USD and 2.23 billion USD.

Other southeastern localities such as Long An, Binh Phuoc, and Binh Thuan were also attractive to foreign investors.

During its development, the southeastern region has proven strong in manufacturing.

Compared to other cities and provinces nationwide, southeastern localities boast advantages in geography, climate and transport infrastructure, which aid the development of manufacturing models and services.

The southern province of Dong Nai is one example. According to the provincial Department of Planning and Investment, at the end of 2016, Dong Nai attracted 1,664 projects worth 30.3 billion USD.

It has 1,253 valid projects capitalised at 25.7 billion USD.

The locality is prioritising projects using high technology and skilled workers as well as the support industry and environmentally-friendly projects.

Meanwhile, Binh Duong counts 2,827 projects with total capital of 25.7 billion USD, making up 13 percent and 8.5 percent of the country’s total foreign projects and capital respectively.

The province is home to 28 industrial parks and 10 industrial clusters, the Vietnam – Singapore Industrial, My Phuoc, and Dong An parks.-VNA