Binh Duong attracts nearly 4,300 FDI projects so far

As of May 2024, the southern province of Binh Duong has attracted nearly 4,300 projects with a total investment capital of nearly 40.6 billion USD from 65 countries and territories, ranking third in the country after Ho Chi Minh City and Hanoi.

Countries and territories with large investments in the province include Japan, Singapore, the Republic of Korea, China, Denmark, the US, said Director of the provincial Department of Planning and Investment Pham Trong Nhan.

Binh Duong attracts nearly 4,300 FDI projects so far

Industrial storehouses and workshops in Tan Uyen city in the southern province of Binh Duong

(Photo: VNA)

To date, industrial parks in the province are housing 3,128 active projects including 2,448 foreign-invested projects with a total registered capital of more than 29.6 billion USD and 680 domestic projects with a total registered capital of 93.8 trillion VND (3.68 billion USD).

Industrial parks have leased more than 285,700 sq.m of industrial land and more than 64,200 sq.m of factories in the first months of this year. Accumulated to date, industrial parks have leased 7,067.49 ha, reaching an occupancy rate of 93.67%.

The Vietnam- Singapore Industrial Park (VSIP 3) in the province is one of new-generation industrial parks that attract many foreign investors, especial those in high-tech areas. Currently, the VSIP 3 has drawn attention of over 30 foreign companies with estimated investment capital of 1.8 billion USD.

Chairman of Binh Duong provincial People's Committee Vo Van Minh said that to attract investors, the province has been upgrading and expanding industrial park infrastructure while improving transport infrastructure to connect the industrial parks with major ports and airports in the region.

Minh added that local authorities at all levels are committed to creating favourable conditions for the business community, especially foreign direct investment (FDI) enterprises.

The province will continue improving industrial parks to create a smart industrial production ecosystem to meet investors’ requirements, Minh said.

Source: VNA

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