Japan tops list of foreign investors in Binh Duong

Wednesday, 2019-10-16 12:03:03
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Chairman of Binh Duong provincial People’s Committee Tran Thanh Liem speaking at the meeting. (Photo: congthuong.vn)
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NDO – With 304 valid projects worth nearly US$5.7 billion, Japan is currently the largest foreign investor among 64 countries and territories investing in the southern province of Binh Duong.

The information was announced by Chairman of Binh Duong provincial People’s Committee Tran Thanh Liem at a dialogue with Japanese investors held on October 15.

The meeting was held to inform investors about the social-economic development situation and investment attraction of the province in the first nine months of 2019 as well as to listen to proposals from enterprises to facilitate business activities.

According to the Provincial People’s Committee, the province has attracted 3,783 projects run by investors from 64 countries and territories with a total investment of US$34.77 billion, becoming the third largest locality in terms of foreign direct investment (FDI) attraction, after Ho Chi Minh City and Hanoi. Japanese investment in Binh Duong accounts for 16.2% of total FDI investment in the province.

Japanese investment is being poured into the areas of infrastructure, urban development, service trade, production of electronic components, automobile assembly and production, steel production and supporting industries.

At the meeting, leaders of Binh Duong province answered questions from investors regarding customs and tax procedures, social insurance for foreign workers in Vietnam, human resource shortages, import procedures for materials, among others.

Chairman Liem thanked positive contributions of Japanese enterprises to the socio-economic development of the province, emphasising that the province will continue to improve its investment environment, complete socio-economic infrastructure, promote administrative reforms, and expand industrial zones, among others, to serve investors.