Friday, December 9 2016

VietNamNews

Binh Duong lures nearly $700 million in investments

Update: March, 08/2016 - 00:14
By the end of February, the province was home to 2,623 foreign-invested projects with a combined investment of more than $24.1 billion, making it one of the nation's only five localities with FDI exceeding $20 billion. — Photo baobinhduong

BINH DUONG (VNS) — The People’s Committee of southern Binh Duong Province late last week licensed 33 domestic and foreign-invested projects, worth a total of US$695 million.

21 were new projects capitalized at $554 million while the remainder were existing projects adding $141 million to their investments.

In terms of investment, which mostly came in textiles and garments, plastics and coffee processing, Taiwan took the lead with $205 million pumped into four projects. It was followed by Singapore with $188.2 million, South Korea with $64 million and Japan with $54.5 million.

By the end of February, the province was home to 2,623 foreign-invested projects with a combined investment of more than $24.1 billion, making it one of the nation’s only five localities with FDI exceeding $20 billion. Some 1,560 of the projects are operating at local industrial zones, worth $15.75 billion or 65 per cent of the province’s total FDI.

Committee chairman Traàn Thanh Lieâm spoke highly of the contribution from investors to provincial socio-economic development, vowing that local authorities would create the most favorable conditions for them to do business.

The province’s leaders were willing to collect the investor’s suggestions on improving the local investment climate and improving infrastructure and speeding up administrative reforms, Lieâm said.

On the same day, Bình Döông Foreign Service Centre signed deals to co-operate with business associations of Japan, South Korea and Taiwan.

Established in June, 2015, the centre provides support to overseas investors.

It will also assist investors in obtaining visas and investment licences as well as provide them with all necessary information regarding the local business climate and investment incentive policies. — VNS

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