Approx. 700 mln USD in FDI lands in Binh Duong in first two months
The People’s Committee of southern Binh Duong province on March 4 granted the first investment licenses of 2016 to 32 foreign direct investment (FDI) projects and one domestic investment project, wort
Southern Binh Duong province granted investment licenses to 32 FDI projects in a ceremony on March 4. (Photo: VNA)Binh Duong (VNA) – The People’s Committee of southern Binh Duong province on March 4 granted the first investment licenses of 2016 to 32 foreign direct investment (FDI) projects and one domestic investment project, worth a total of 695 million USD.
Taiwan (China) led the way in registered capital with 205 million USD pumped into 4 projects, followed by Singapore (188.2 million USD), the Republic of Korea (64 million USD), and Japan (54.5 million USD).
Chief among these projects are a 100-million-USD fabric manufacturing project by Taiwan-based De Licacy Industrial Co., Ltd; and an 88-million-USD instant coffee factory by Singapore’s Fovoline Global Trading PTE. Ltd.
By the end of February, the province has had 2,623 operational projects with a combined investment of 24.1 billion USD. Some 1,560 of the projects are operating at local industrial parks, worth 15.75 billion USD or 65 percent of the locality’s total FDI.
On the same day, the province launched the Binh Duong Foreign Service Centre at the provincial Department of Foreign Affairs to provide timely and effective support to overseas investors, so as to attract more foreign investment.
It will assist investors in obtaining visas and investment licenses as well as provide them with all necessary information regarding the local business climate and investment incentive policies.
During the opening ceremony, the centre signed deals to cooperate with business associations of Japan, the Republic of Korea and Taiwan.-VNA
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