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.

Illustrative image (Source: VNA)

Binh Duong (VNA) – The southern province of Binh Duong has set a target of attracting at least 1.4 billion USD in foreign direct investment (FDI) in 2017, prioritising projects with high technology and large-scale ones on urban and service development.

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

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

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

In 2016, Binh Duong saw over 2 billion USD being poured in 240 new projects and 123 existing ones, equivalent to 145 percent of its target. Most new projects were in the fields of manufacturing and processing industries and service.

Japan, Singapore and the Republic of Korea were three countries 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 equivalent to 112.5 percent of that in 2015.-VNA

VNA