FDI flow to Bình Dương triples in Q1

March 23, 2022 - 08:23

The southern province of Bình Dương attracted about US$1.6 billion worth of foreign direct investment (FDI) in the first quarter of 2022, 3.6 times higher than that in the same period last year.

A corner of the first Vietnam-Singapore Industrial Park (VSIP1) in Thuận An City, Bình Dương Province. — VNA/VNS Photo

BÌNH DƯƠNG — The southern province of Bình Dương attracted about US$1.6 billion worth of foreign direct investment (FDI) in the first quarter of 2022, 3.6 times higher than that in the same period last year.

Bình Dương also lured VNĐ36 trillion ($1.57 billion) of domestic capital, an annual increase of 16.9 per cent.

During the period, a total of 22 investment licences were granted to enterprises to operate at local industrial parks.

Notably among the investors, the toy manufacturer LEGO Group decided to pour more than $1 billion into building its 44ha factory at the Vietnam-Singapore Industrial Park III in Bình Dương, making it the largest Danish-invested project in Việt Nam to date. The plant is hoped to generate 4,000 jobs in the next 15 years.

According to chairman of the provincial People’s Committee Võ Văn Minh, the provincial authorities are committed to creating the best conditions possible for the operation of domestic and foreign firms.

The province has 29 concentrated industrial parks covering nearly 13,000 ha of land, with their average occupancy rate exceeding 83.4 per cent. So far, Bình Dương has recorded 4,033 valid FDI projects worth over $37.7 billion. — VNS

Old loans must endure higher interest rates temporarily: SBV

Economy

Railway, marine, waterway transport sectors need to find ways to increase market share

Economy

Việt Nam earns $1.43b from rice exports in Q1

Economy

Multinational e-commerce platforms strengthen their foothold in Việt Nam

Economy

Global suppliers join Beautycare Expo 2024 in Hà Nội

Economy

Standard Chartered Vietnam and the US promote clean energy investments in Việt Nam

More on this story

Economy

The rise of construction materials price

Prices of construction materials like iron and steel, cement, stone, and sand have increased relentlessly since the beginning of this year due to a surge in demand caused by the peak construction period being delayed by COVID-19 from February-April last year.

Economy

VN targets $20 billion in timber exports by 2025

Việt Nam is targeting US$20 billion in total timber exports by 2025, an increase of more than $9 billion compared to now.

Economy

Cần Thơ supports start-ups in digital transformation

Named FUNDGO, the fund is the first of it kind in the city to support and invest in start-ups. It is established by the city-based TRUSTpay Joint Stock Co.

Economy

KOTRA brings firms together on bilateral trade

The Korea Trade-Investment Promotion Agency (KOTRA) in Hà Nội has organised a trade event to boost commercial links between Vietnamese buyers and Korean sellers.

Economy

Shares extend gains on the rise of multiple sectors

Vietnamese markets extended gains and ended higher on Tuesday, thanks largely to sharp rises in banking, securities, oil and fertiliser shares.

Economy

Banks to pay dividends ahead of annual meetings

Shareholders are now focusing on news about bank dividends, especially as banks have been doing well throughout the past year despite the COVID-19 pandemic.

Economy

Việt Nam to focus on small agricultural processing businesses

Việt Nam was set to be in the top 10 deep processing centers of the world by 2030 however experts said if the Government’s solutions and mechanisms in policies were not implemented synchronously, this goal was hard.

Economy

Most firms not legally well-informed

Vietnam Competition and Consumer Authority (VCCA) and Japan International Cooperation Agency recently conducted a survey on small and medium firms to assess their awareness of Competition Law.

Economy

Vietnamese, Lao businesses work to speed up strategic cooperation projects

Vietnamese and Lao businesses discussed ways to speed up the implementation of large-scale Vietnamese-invested projects in Laos and seek new cooperation projects of strategic importance during a workshop in Vientiane on Monday.