Business

Key southern economic region a magnet for FDI

With its advantages and thorough preparation in terms of infrastructure, transport and human resources, after the COVID-19 pandemic is put under control, the key southern economic region remains the leading destination for foreign direct investment (FDI) flows.
Key southern economic region a magnet for FDI ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – With its advantages and thorough preparation in terms ofinfrastructure, transport and human resources, after the COVID-19 pandemic isput under control, the key southern economic region remains the leadingdestination for foreign direct investment (FDI) flows.

Localities in the region have also organised investmentpromotion workshops to popularise Vietnam’s investment environment and its advantages and potential.

In mid-May, Pandora, a Danish jewelry manufacturer, announcedthat it will invest 100 USD million to build a new facility in the VietnamSingapore Industrial Park (VSIP) in the southern province of Binh Duong under amemorandum of understanding signed between two sides.

Jeerasage Puranasamriddhi, Chief Supply Officer of Pandoragroup, said they have chosen Binh Duong province for the availability ofskilled workforce, its infrastructure and proximity to international airports,adding that the enthusiasm, support and strong commitment the group receivesfrom the local administration was also a reason.

According to the provincial People’s Committee, in the firstfour months of this year, Binh Duong attracted a total of 2.35 billion USD in16 new projects, nine existing ones, and from the contribution of capital of 53businesses.

Key southern economic region a magnet for FDI ảnh 2Illustrative image (Photo: VNA)
Meanwhile, since the beginning of this year to April 20,1.28 billion USD had been poured into Ho Chi Minh City, up 12.2 percentyear-on-year.

Long An and Dong Nai also attracted 341 million USD and 210million USD in foreign investment, respectively, during January-April.

Notably, Coca Cola’s over 136 million USD project – the largestFDI one in Long An in Q1 – received the investment license just oneday after its dossier was submitted.

Nguyen Van Danh, Vice Chairman of the People’s Committee ofBinh Duong which attracted the largest amount of FDI in the first four months,said that in the coming time, the locality will continue holding online investmentpromotion conferences with other countries, actively expanding internationalcooperation, and establishing bilateral cooperation with provinces and citiesof countries.

It will focus resources on completing transportinfrastructure and that of industrial zones, training human resources, andstepping up administrative reform.

Meanwhile, Chairman of the People’s Committee of Ho Chi MinhCity Phan Van Mai and Chairman of the People’s Committee of Binh Phuoc provincestated that the localities will maintain the organisation of regular meetingswith foreign investors to better meet their aspirations and help them deal withdifficulties.

The key southern economic region comprises of Ho Chi MinhCity, Binh Phuoc, Tay Ninh, Binh Duong, Dong Nai, Ba Ria-Vung Tau, Long An andTien Giang provinces./.
VNA
#key southern economic region #foreign direct investment #FDI #Binh Duong #Ho Chi Minh City #Dong Nai #Vietnam #Vietnamplus #Vietnam News Agency
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