A Japanese-invested soft drink factory in the My Phuoc 2 industrial park of Binh Duong (Photo: VNA)

The southern province of Binh Duong has, to date, attracted approximately 22 billion USD in foreign direct investment (FDI) with 2,511 valid projects, revealed the provincial Department of Planning and Investment.

Of the figure, over 1.4 billion USD has been poured into the locality this year so far, focusing on industrial production, the support industry, retail and real estate.

Within the first eight months of the year, 124 projects received investment licences with a total registered capital of 788 million USD and 85 others increased their capital by more than 647 million USD combined.

Tran Van Nam, Chairman of the provincial People’s Committee, attributed the synchronous investment infrastructure and the good infrastructure development of 28 centralised industrial parks in Binh Duong to the strong FDI influx.

Apart from FDI enterprises, domestic firms have also seen robust development, Nam said, noting that the locality is now home to more than 19,500 domestically-invested businesses valued at 144 trillion VND (6.3 billion USD).

By the end of this year, the industrial sector is expected to constitute 60 percent of the province’s economic structure, helping to raise its average GDP per capita to 95.6 million VND (4,206 USD).

The official said with its huge potential along with improved competitiveness and brand names, Binh Duong has been one of the leading localities in the country’s reform process.-VNA