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Binh Duong surpasses annual FDI goal in H1

Update: July, 11/2014 - 09:09

A bakery production line at URC Vietnam Company Limited in Binh Duong Province. — VNA/VNS Photo Quach Lam

BINH DUONG (VNS) — The southern province of Binh Duong attracted US$1.014 billion in foreign direct investment (FDI) in the first half of this year, exceeding its yearly target of luring $1 billion.

According to Chairman of the provincial People's Committee Le Thanh Cung, by the end of June, $400 million had been poured into 83 new projects, while $614 million was added to 69 projects already being carried out.

So far, the province has attracted 2,317 FDI projects with a combined investment of more than $19.8 billion, Cung said.

The locality's official spokesperson said investors had been provided with cleared land equipped with infrastructure and invited to participate in programmes promoting investment.

He referred to the drastic reform of administrative procedures and one-stop-shop services, saying the moves had enabled investors to streamline operations and expand their businesses.

Binh Duong had also focused on completing the planning of areas dedicated to support industries, and was aiming to become a regional supplier of raw materials and in the lead up to the Trans-Pacific Partnership deal, he said.

The locality has seen a strong flow of FDI from big foreign groups since late May. On June 24, the Taiwanese Kingtec Group signed a contract with the My Phuoc III industrial park to rent land for its electronics factory comprising an initial investment of $30 million. — VNS



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