Friday, December 9 2016

VietNamNews

Binh Duong receives $1.7b of FDI since early 2015

Update: December, 02/2015 - 07:51

According to the provincial People's Committee, the province licensed 176 new FDI projects during the period, worth $966 million, and $734 million was added to 113 operational projects. — Photo batdongsan

BINH DUONG (VNS) — Some US$1.7 billion in foreign direct investment (FDI) has been poured into southern Binh Duong Province since the beginning of 2015, surpassing the yearly target by 70 per cent and up 11.1 per cent year-on-year.

According to the provincial People's Committee, the province licensed 176 new FDI projects during the period, worth $966 million, and $734 million was added to 113 operational projects.

Chief among these is a $274-million textile project run by Far Eastern Polytex Vietnam, a member of Taiwan's Far Eastern Group, in Bau Bang Industrial Park. Another is a $50-million Samoa wood factory in the Thanh An industrial cluster.

An extra $130 million was pumped into the Vina Kraft Paper Ltd Co in Ben Cat district. The Chanh Duong Paper Ltd Co added more $74 million in investment.

Binh Duong is now home to 26 industrial parks, covering a total area of 8,800 hectares. The locality plans to attract $1.4 billion in FDI in 2016. — VNS

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