Binh Duong lures 1.6 billion USD in foreign investment hinh anh 1Workers make garment products at Toyotsu Vehitecs Vietnam, a wholly Japanese-invested enterprise in Binh Duong province (Photo: VNA)

Binh Duong (VNA) – The southern province of Binh Duong attracted 1.6 billion USD in foreign direct investment (FDI) so far this year, exceeding the yearly target by 60 percent.

According to Nguyen Thanh Truc, Director of the provincial Department of Planning and Investment, the locality is currently hosting 2,548 valid FDI projects totalling more than 22 billion USD.

In the 2010-2015 period, the province drew 7.9 billion USD of investment, 2.5 billion USD higher than the set goal, he added.

Truc said in the next five years, Binh Duong plans to attract at least 7 billion USD, raising its total FDI to 30 billion USD.

In the coming time, the province will continue expanding investment resources from economic sectors, especially foreign investment that is considered a driving force for the local socio-economic growth.

It will also speed up its economic structure transfer towards developing services and industry in association with urbanisation while prioritising hi-tech, labour-saving and environmentally friendly projects, stated Truc.-VNA