The Japanese fully-invested Daiyu Steel Limited Co. opened a new steel factory in Di An town, the southern province of Binh Duong, on November 25.

The factory, located on a 13,000m2 land plot in the Tan Dong Hiep industrial zone, has a total investment of 10 million USD.

It has a monthly production capacity of 1,350 tones of products.

Hiroyuki Inoue, the company’s General Director, said investing in Binh Duong is a sound decision given the locality’s fast industrialisation and urbanisation.

This year, Japanese investors have pumped more money into the province than in other countries and territories.

Accordingly, Japan is currently the largest investor in Binh Duong, having 225 projects with a total investment capital of nearly 4.7 billion USD.

Binh Duong, together with the southern province of Dong Nai and Ho Chi Minh City, are amongst the most attractive FDI destinations in Vietnam.

In the past 11 months, it ranked third in terms of disbursed foreign direct investment with 1.42 billion USD after northern Thai Nguyen province and Ho Chi Minh City.-VNA