Wednesday, November 21 2018

VietNamNews

Binh Duong continues to lure foreign investment

Update: November, 26/2013 - 09:22
The southern province of Binh Duong in the first 10 months of this year granted investment certificates to 116 new foreign-direct-investment (FDI) projects.— File Photo

BINH DUONG  (VNS) — The southern province of Binh Duong in the first 10 months of this year granted investment certificates to 116 new foreign-direct-investment (FDI) projects.

At the same time, it permitted 115 others to increase capital, according to the provincial People's Committee.

As a result, total FDI capital attracted during the first 10 months reached nearly US$1.2 billion, exceeding the annual target.

During the period, nearly 1,480 enterprises registered to be established and 334 enterprises registered to increase their capital.

According to the province, tax exemptions and reductions had helped manufacturers and businesses.

Industrial manufacturing totalled VND124 trillion ($5.9 billion), increasing over 13 per cent year-on-year. Of the figure, foreign investment sector accounted for nearly 68 per cent.

In the first 10 months, the Consumer Price Index was under control compared with early of the year.

The committee said that foreign exchange was stable, interest rates had declined, and bad debt was settled in accordance with given schedules.

The province said that the investment environment had improved thanks to regular discussion between the provincial leaders and local enterprises.

During this period, the province's chairman, Le Thanh Cung, met with nearly 100 local enterprises at the Viet Nam-Singapore Industrial Park (VSIP) and Mapletree Industrial Park to discuss challenges they faced.

The most pressing issues were foreigners' income tax payments, macroeconomic policies, prices, invoices and policies for workers, and transportation safety.

Accommodation for workers and kindergartens for workers' children were also matters of concerns during the meetings.

Enterprises said the demand for accommodation was high, and that the province must develop a plan to offer low-cost housing to local workers.

Nguyen Huu Phuong Van, a business representative, said that workers badly needed kindergartens for their children.

Chairman Le Thanh Cung said the province would create more advantageous conditions and allocate money in industrial parks to build kindergartens and schools.

The VSIP and Mapletree Industrial Park for the first 10 months gave licenses to 21 foreign-invested projects. Forty-one foreign-invested projects registered for total capital increases as well.

For the first 10 months, foreign capital totalled $313 million for VSIP and Mapletree Industrial Park.

In general, operations of most enterprises were stable. Newly established enterprises as well as enterprises with registered capital increases conducted business promptly. Revenue and import-export incomes were higher than in 2012.

At least 8,000 jobs were created, achieving 133 per cent compared with the set target for the year, increasing the total number of workers in industrial parks to 119,000. — VNS

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