Binh Duong strives to become ideal destination for investors

14:12 | 25/08/2017 Economy

Southern Binh Duong province has been striving to build a friendly administration and turn itself into an ideal destination for investors.

Southern Binh Duong province has been striving to turn itself into an ideal destination for investors - Photo: VNA

To this end, Binh Duong has spared no effort to reform public administrative procedures related to investment by cutting time for business establishment and investment registration procedures.

Furthermore, meetings between authorities and enterprises have been held regularly to receive feedback and proposals from businesses in order to help them overcome difficulties and boost production in an effective and sustainable manner.

The province has also worked to improve local infrastructure in the fields of transportation, water and power supply and environmental treatment, and to expand industrial parks and clear lands for new projects.

Local authorities plan to promote human resources development to meet demand of investors and build more residential apartments for workers in industrial parks.

Statistics showed that Binh Duong has lured over 4 billion USD in foreign direct investment (FDI) in 2016 and the first half of 2017. By July 31, the province had attracted 2,959 FDI projects, worth 27.56 billion USD, ranking second among 63 provinces and cities in terms of FDI attraction.

The manufacturing and processing sector attracted nearly 77 percent of the total FDI during the first months of this year with 1.28 billion USD pouring into 129 existing and new projects.

Chinese Taipei topped the list of 23 foreign investors that registered to invest or add capital into existing projects during the first half of 2017 with 524 million USD, accounting for 32.4 percent of the total capital. It was followed by Singapore and the Republic of Korea.

Theo VNA