Binh Duong meets foreign investment target ahead of schedule

Wednesday, 2020-03-18 16:32:43
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The Vietnam-Singapore Industrial Park in Binh Duong province
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NDO - The southern industrial hub of Binh Duong has attracted US$10.2 billion in foreign direct investment as of the end of 2019, surpassing the target of US$7 billion for the 2016-2020 period.

Such figures confirm Binh Duong’s status as an attractive destination for foreign investors, second only to neighbouring Ho Chi Minh City.

According to the provincial investment department, Binh Duong is currently home to 3,780 active foreign-invested projects with total pledges at US$34.33 billion, accounting for 9.48% of total foreign investment in Vietnam.

The province has seen investors from 65 countries and territories with Japan being the largest investor, with US$5.61 billion in over 300 projects.

Foreign-invested projects in Binh Duong are mainly in the manufacturing sector.

According to Binh Duong Chairman Tran Thanh Liem, what makes the province appealing to foreign investors is a conducive investment climate brought about by aggressive policy reforms.

Looking toward the future, the province continues to see foreign investment as an important driver but will give priority to environmentally friendly, high-tech and less labour-intensive projects.