By the end of October 2019, Binh Duong has attracted more than US $ 9.9 billion of FDI, reaching the target one year ahead of the five-year plan for the period 2016-2020. According to experts, the investors "bustling" about Binh Duong is not a coincidence but is the result of a process of efforts from authorities and investors of this province, typically the Investment Promotion Renewal Program in the 2016-2020 period that the province has been drastically deploying.
Bau Bang Industrial Zone, Binh Duong Province.
Source: becamex.com.vn
According to the latest report of Binh Duong Department of Planning and Investment, from the beginning of the year to October 31, 2019, more than 2.77 billion USD of FDI was licensed to invest in Binh Duong, up 69% compared to the same period last year and far beyond the plan of this year. This result has brought Binh Duong to the third position in the country in terms of FDI attraction. So far, Binh Duong province has attracted more than 3,700 FDI projects from 64 countries and territories with a total registered capital of nearly 34 billion USD, mainly in the fields of industrial production, trade and services.
Some large-scale projects licensed to invest in industrial zones from the beginning of the year until now are: Sharp Manufacturing Co., Ltd. (Japan) investing USD 135 million; 2 projects of BW Industrial Development Company Limited (joint venture between Becamex IDC and Warburg Pincus LLC, USA) with total registered capital of 106 million USD; Project of Nitto Denko Co., Ltd. (Japan), invested more than 186 million USD ...
In order to attract sustainable FDI, Binh Duong province has implemented the Renewal Program to attract investment in the 2016-2020 period, focusing on attracting investment from major potential partners, business groups in the world. The province prioritizes attracting high-tech, high added value, less labor-intensive, environmentally friendly investment. In particular, focus on planned industrial parks and industrial clusters, paying special attention to supporting industries, participating in the global value chains of multinational corporations. With that orientation, the province has set a target of attracting 7 billion USD of FDI in the period of 2016 - 2020. Thus, Binh Duong has exceeded the amount of attracted investment capital (over 41%) as well as time completed compared to the plan.
Mr. Tran Thanh Liem - Chairman of Binh Duong People's Committee said that the province committed to continue promoting administrative procedure reform, focusing on improving investment environment, improving competitiveness, and creating favorable conditions for foreign enterprises to be assured in their business and production.
Accordingly, in the coming time, Binh Duong will focus on developing high-quality services to meet the production and business requirements of enterprises and the needs of industrial and urban development in the province. At the same time, provide sufficiently and timely supply of labor resources for businesses to invest in the province, creating favorable conditions for foreign invested enterprises to feel secure in production and business. In addition, the province will strengthen the direction of all levels and sectors to focus on ensuring political security and social order and safety.
Nguyễn Linh Ngân