Binh Duong looks to attract more investment
Binh Duong has always been rated as one of the leading localities in the nation in attracting FDI - an important resource for the locality to have an annual GDP growth rate at 2 times higher than the national average.
In the first 10 months of 2020, total newly registered capital and FDI added projects are estimated at nearly US$ 1.7 billion.
Japan is leading with 320 projects with total investment capital of nearly US$ 5.7 billion, accounting for 21.4% of total FDI capital of the province.
The RoK is the third-largest foreign investor in Binh Duong after Japan and China, with 756 projects and nearly US$3.2 billion in capital, accounting for nearly 5% of all investment from the country in Viet Nam.
FDI projects in Binh Duong are mainly on electronic component production, electronic circuits and chips, automobile assembly, iron and steel, and supporting industries, including big names of Tokyu Group (the real estate business project named Tokyu Binh Duong Urban Area with a total investment of US$ 1.2 billion), Sun-S Group (the project of manufacturing electronic components and equipment by Wonderful Saigon Electrics Co., Ltd. (invested by Sun-S Group) with a total capital of US$ 450 million), and Aeon Mall Vietnam Co., Ltd. (Aeon Mall Binh Duong project invested by a total capital of US$95 million.
These projects have been contributing to promoting the socio-economic development of the province.
According to the Binh Duong provincial Department of Planning and Investment, on average, each project of a Japanese enterprise investing into Binh Duong has the capital of over US$20 million, the highest average figure among countries and territories currently investing into Binh Duong.
Binh Duong provincial authority has always prioritized FDI projects of advanced, new, modern and highly value added technologies to stay connected in global supplying chain.
As an industrial hub, Binh Duong province is among the best choice for foreign investors seeking for investments into Viet Nam.
In 2020, despite the difficulties posed by the COVID-19 pandemic, Binh Duong maintained its stable economic growth, with gross regional domestic product (GRDP) estimated to increase 6.78% and annual per capita GRDP to stand at VND150 million (US$6,500)./.
By: Vien Nhu/Online Newspaper of the Government - Viet Nam Government Portal
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