Binh Duong Province ahead of investment

15:51 | 24/04/2017 Economy

(VEN) - In the first quarter of 2017, Binh Duong Province - immediately to the north of Ho Chi Minh City - attracted investment capital of US$1.34 billion, up 250 percent from the same period in 2016 and accounting for 96 percent of the 2017 target.  

The 21 projects include 10 newly registered foreign direct investment (FDI) projects totaling US$740.7 million in capital, eight FDI projects with a total increased capital of US$536.1 million, and three newly registered domestic investment projects totaling VND740 billion in capital.

Major projects include the VND6.4-trillion, 1,000-hectare Vietnam Singapore Industrial Park III (VSIP III) and the VND2.7-trillion food packaging factory project of the Tetra Pak Binh Duong Joint Stock Company in VSIP II, among others. Binh Duong has so far attracted 2,892 FDI projects with total capital of more than US$27 billion.

In the first quarter of 2017, Binh Duong’s industrial zones attracted 31 new projects with registered capital of US$777 million, and saw 12 projects increasing their capital by a total of US$535.8 million. Outside the industrial zones, 12 new projects were added with a total registered capital of US$16.3 million, and six projects increased their capital by a total of US$15 million.

Binh Duong is home to 38 industrial zones with a total area of 11,267ha and an occupancy rate of 65-70 percent. According to the adjusted plan for development of industrial zones to 2020 approved by the Prime Minister, Binh Duong should have had 33 industrial zones totaling 14,790ha in area.

The achievements are attributed to the province’s efforts to improve its development-oriented investment environment. Specifically, the province improved the quality of investment attraction activities, giving priority to areas in which it has advantages, such as electricity, electronics, engineering and chemicals.

Binh Duong Province is targeting US$1.4 billion in FDI capital in 2017. By the end of the first quarter of the year, the

province attracted US$1.34 billion, increasing an amazing 250 percent from the same period last year and reaching 96

percent of the projection for the year.

Thanh Thanh