Southern Binh Duong province has attracted nearly 2,550 foreign direct investment (FDI) projects between 2010 and 2015, bringing the total registered capital to 21.5 billion USD, said Tran Van Nam, Chairman of the provincial People’s Committee.

It is estimated that FDI capital will exceed 1 billion USD this year, Nam noted.

According to the provincial Department of Investment and Planning, the projects have an average capital of less than 10 million USD each, and the current largest among them is a real estate Binh Duong New City project invested by Japan-based Tokyu Corporation at a cost of 1.2 billion USD.

As many as 12,370 firms received business licenses from 2010 to 2015, raising the total number of local companies to nearly 19,640, a two-fold increase from the outset of the decade.

Total registered capital also grew to over 146 trillion VND (6.7 billion USD), 2.2 times higher.

During the period, total investment in the province reached 263 trillion VND (12.06 billion USD), 8 percent of which was contributed by the state budget and 43.1 percent was sourced from FDI.

The industry will continue to be the locality’s key economic driver to boost urban, service and trade development in the next five years.

The province’s exports are also expected to expand at an average rate of 19.5 percent annually. Its foreign trade revenue is forecast to exceed 20 billion USD this year, including 16 billion USD imports and 4 billion USD exports.-VNA