The southern province of Binh Duong attracted 1.014 billion USD in foreign direct investment (FDI) in the first half of this year, exceeding its yearly target of luring 1 billion USD.

According to Chairman of the provincial People’s Committee Le Thanh Cung, by the end of June, 400 million USD were poured in 83 new projects, while 614 million USD were added to the 69 underway ones.

So far, the province has hosted 2,317 FDI projects with a combined investment of over 19.8 billion USD, he said.

The official spoke of the locality’s efforts to provide investors with cleared land equipped with complete infrastructure systems, together with effective investment promotion programmes.

He referred to the drastic reform of administrative procedures and one-stop-shop services, saying these moves have enabled investors to operate stably and expand their business.

Binh Duong is focusing on completing the planning of areas dedicated to the support industries, aimed to become a regional supplier of raw material and make it ready for the upcoming Trans-Pacific Partnership deal, Cung said.

The locality has seen a strong flow of FDI from big foreign groups since late May. On June 24, the Taiwanese Kingtec Group signed a contract with the My Phuoc III industrial park to rent land for its electronics factory whose first phase will have an investment of 30 million USD.-VNA