09:42 | 12/07/2019 Investment
A conference on foreign investment attraction to the southern province of Binh Duong was organised in Sydney on July 10, attracting crowds of representatives from the two countries’ business communities.
|Participants at the conference - Source: VNA|
The event was part of the activities of the field trip to Australia by officials from Binh Duong province and representatives from Becamex IDC Corp.
The event heard that Binh Duong province has issued many important policies to attract foreign direct investment (FDI) and promote economic development, focusing on developing industrial clusters and zones, in order to meet the business and production demand of domestic and foreign enterprises.
By the end of 2018, as much as 2.1 billion USD in FDI was poured into Binh Duong, 50.2 percent higher than the set target. The province was home to 3,509 foreign-invested projects with total registered capital of 32.2 billion USD, ranking third nationwide after Ho Chi Minh City and Hanoi.
Speaking at the event, General Director of DETMOLD Group of Australia, which specialises in providing food containers, said 98 percent of products of the firm were produced in Binh Duong, adding that the company will continue to expand its long-term production in the locality.
Nguyen Phu Hoa, Chief Representative of Vietnam Commercial Affairs in Australia, said the conference demonstrates initiative and efforts by the Binh Duong authorities to lure more foreign investment to the locality.
Previously, a trade promotion workshop was held by the delegation in South Australia on July 8.