Binh Duong still an FDI magnet in the south

The additional 2.7 billion USD poured into Binh Duong in the first 10 months of 2022 has helped the southern industrial hub rank second in Vietnam in terms of foreign direct investment (FDI) attraction.

Wednesday, November 09, 2022 16:04

Binh Duong still an FDI magnet in the south ảnh 1

Vietnam-Singapore Industrial Park II in Binh Duong's Thu Dau Mot city (Photo: VNA)

Binh Duong (VNA) – The additional 2.7 billion USD poured into BinhDuong in the first 10 months of 2022 has helped the southern industrial hubrank second in Vietnam in terms of foreign direct investment (FDI) attraction.

The figure represents a year-on-year rise of 57%, accordingto the provincial People’s Committee.

In the period, manufacturing and processing drew the most from foreign investors, with 1.66 billion USD, accounting for 63.5% ofthe total registered capital. Real estate ranked second with 939 million USD,making up 35.8% of the total.

Denmark was the biggest investor of Binh Duong in the period under review, with 1.32 billion USD, followed by the Netherlandswith 609 million USD, and China 258 million USD.

According to Chairman of the provincial People’s CommitteeVo Van Minh, as of October 31, Binh Duong ranked second the country in FDIattraction, after Ho Chi Minh City, with 4.053 valid projects totaling 39.6billion USD, or 9.3% of the nation’s total FDI.

Sixty-five nations and territories have registered to pourcapital in the southern industrial hub, with Taiwan (China) ranking first with859 projects totaling 6.27 billion USD. It is followed by Japan with 333projects totaling 5.86 billion USD, and Singapore 277 projects and 5.4 billionUSD.

In his recent working sessions with Binh Duong leaders, PrebenEnef, General Director of LEGO Vietnam Technology Co. Ltd., which is investing1.3 billion USD in a toy factory in Binh Duong, appreciated support fromleaders of the province as well as ministries and sectors for the constructionof the project.

The locality’s post-pandemic recovery and development effortshave also gained applause from the Republic of Korea Chamber of Commerce(KOCHAM) office in Binh Duong and the European Chamber of Commerce (EUROCHAM)in Vietnam./.

VNA

#Binh Duong #foreign direct investment #FDI #Denmark #Vietnam #Vietnamplus #Vietnam News Agency Binh Duong

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