Business

FDI flow to Binh Duong triples in Q1

The southern province of Binh Duong attracted about 1.6 billion USD worth of foreign direct investment (FDI) in the first quarter of 2022, 3.6 times higher than that in the same period last year, informed Chairman of the provincial People’s Committee Vo Van Minh on March 21.
FDI flow to Binh Duong triples in Q1 ảnh 1A corner of the first Vietnam-Singapore Industrial Park (VSIP1) in Thuan An city, Binh Duong province. (Photo: Chi Tuong/VNA)
Binh Duong (VNA) – The southern province of BinhDuong attracted about 1.6 billion USD worth of foreign direct investment (FDI)in the first quarter of 2022, 3.6 times higher than that in the same period last year, informed Chairman of theprovincial People’s Committee Vo Van Minh on March 21.

Binh Duong also lured 36 trillion VND (1.57 billion USD) ofdomestic capital, an annual increase on 16.9percent.

During the period, a total of 22 investment licences weregranted to enterprises to operate at local industrial parks.

Notably among the investors, the toy manufacturer LEGO Groupdecided to pour more than 1 billion USD on the building of its 44ha factory atthe Vietnam - Singapore Industrial Park III in Binh Duong, making it thelargest Danish-invested project in Vietnam to date. The plant is hoped togenerate 4,000 jobs in the next 15 years.

According to Minh, the provincial authorities are committedto creating best conditions possible for the operation of domestic and foreignfirms.

The province has 29 concentrated industrial parks coveringnearly 13,000 ha of land, with their average occupancy rate exceeding 83.4percent. So far, Binh Duong has recorded 4,033 valid FDI projects worth over37.7 billion USD./.
VNA
#Binh Duong #foreign direct investment #Vo Van Minh #domestic capital #investment licences #vietnam news agency #vietnamplus Binh Duong
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