Binh Duong: FDI in five months exceeds yearly target

Binh Duong (VNA) – Southern Binh Duong province has lured nearly 1.5 billion USD in FDI in the first five months of 2017, 6.5 percent higher than the province’s target of 1.4 billion USD for the entire year, according to the provincial People’s Committee.

The province hereby came second, after Ho Chi Minh City, in FDI attraction. It is now home to more than 2,890 FDI enterprises with a total investment of 27.1 billion USD.

Binh Duong has been working to draw more FDI between 2016 and 2020 in an attempt to make breakthroughs in the fields of industry, services, and hi-tech agriculture, said Chairman of the provincial People’s Committee Tran Thanh Liem.

Liem noted that the province is inviting foreign investment in high-quality services, industrial support services, and high-value and environmentally-friendly industries.

In addition, the locality also plans to attract over 7 billion USD in FDI and about 110,000 billion VND from domestic investors, he added.

To fulfill the goals, the provincial People’s Committee will continue improving policies for investment attraction and better undertake measures to support enterprises and help them resolve difficulties.

It will put more effort into raising quality of human resources, enhancing public administrative reforms and improving effectiveness of state management.

The province’s industrial production index in May rose by 7 percent from the previous month and by 15.21 percent from the same period last year.

The index for the first five months of the year grew 8.21 percent year on year with manufacturing and processing up 8.18 percent and electricity production and distribution up 13.48 percent.

Local CPI during the period gained 3.62 percent year on year.-VNA