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Binh Duong aims for 1.4 billion USD in 2017 FDI attraction

Binh Duong province has set a target of attracting at least 1.4 billion USD in FDI in 2017, prioritising projects with high technology and large-scale ones on urban and service development.
Binh Duong aims for 1.4 billion USD in 2017 FDI attraction ảnh 1Illustrative image (Source: VNA)
Binh Duong (VNA) – The southern province ofBinh Duong has set a target of attracting at least 1.4 billion USD in foreigndirect investment (FDI) in 2017, prioritising projects with high technology andlarge-scale ones on urban and service development.

According to Nguyen Thanh Truc, Director of the provincialDepartment of Planning and Investment, the province has seen good signals inluring FDI this year, with 696.3 million USD flowing in in January.

Major projects llicensed in the first month of 2017 includethe Vietnam-Singapore Industrial Park III with an investment of 284.75 millionUSD, and an automobile tire cord and airbag factory worth 220 million USDinvested by the Republic of Korea’s Kolon Industry Inc in Bau Bang industrialpark.

As of present, Binh Duong is home to more than 2,800 FDIprojects worth 25.5 billion USD, becoming one of the five leading localities inFDI attraction.

In 2016, Binh Duong saw over 2 billion USD being poured in240 new projects and 123 existing ones, equivalent to 145 percent of itstarget. Most new projects were in the fields of manufacturing and processingindustries and service.

Japan, Singapore and the Republic of Korea were threecountries with highest investment in Binh Duong during the year.

FID enterprises in Binh Duong paid over 9.09 trillion VND(399.4 million USD) of tax, reaching 100.3 percent of estimate and equivalentto 112.5 percent of that in 2015.-VNA
VNA
#Binh Duong #FDI #foreign direct investment #high technology Binh Duong
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