Binh Duong lures additional 1 billion USD of investment

Seven foreign-invested projects, with a total registered capital of 1 billion USD in the southern province of Binh Duong have been granted in-principle approval and investment certificates at a recent meeting held by the provincial People's Committee.

Tuesday, February 04, 2025 10:30

Prime Minister Pham Minh Chinh (centre, first row), and leaders of Binh Duong province handover investment certificates to enterprises. (Photo: daibieunhandan.vn)

Binh Duong (VNA) – The People’s Committee of Binh Duong province has granted in-principle approval and investment certificates to seven foreign-invested projects, with a total registered capital of 1 billion USD.

Among them, the Vietnam-Singapore Industrial Park Joint Venture Co., Ltd. (VSIP) has received investment licenses for two industrial park infrastructure projects. These include a 341.2 million USD investment in the Vietnam-Singapore Industrial Park III (VSIP III) and a 471 million USD investment in a new urban area project by the VSIP Binh Duong Residential Development Co., Ltd. The total investment of the two projects is 812.2 million USD.

Additionally, two newly approved investment projects, worth a total of 53 million USD, belong to the Timotion Vietnam Limited Liability Company and Axman Vietnam Co., Ltd., both located in VSIP III Industrial Park.

The province has also approved capital expansion for three existing projects with a combined capital of 105 million USD. These include a 50 million USD capital addition for the Cheng Loong Binh Duong Paper Co., Ltd. in Protrade Industrial Park, a 40.2 million USD expansion for the Deneast Vietnam Co., Ltd. in VSIP IIA Industrial Park, and a 15 million USD increase for the Dongil Rubber Belt Vietnam Co., Ltd. in Bau Bang Industrial Park.

Chairman of the Binh Duong People's Committee Vo Van Minh reaffirmed the province’s commitment to supporting investors and businesses, maximising its advantages, and seizing opportunities for strong and sustainable growth, positioning Binh Duong as a leading investment destination in the region.

On this occasion, local authorities also approved investment policies for seven social housing projects, comprising 9,240 apartments, with a total investment of 8.4 trillion VND (332 million USD)./.

VNA

#Binh Duong #investment #investors #industrial park Binh Duong

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