Binh Duong province: FDI forecast to exceed USD7 billion in 2016-2020
Thursday, 02/08/2018 11:18 (GMT+7)
FDI attraction in Binh Duong reached an estimated USD5.78 billion from 2016 to now, 82.6% of the five-year plan for 2016-2020. With this impetus, the southern province is expected to achieve and exceed USD7 billion for the period.
Secretary of the Binh Duong Party Committee Tran Van Nam speaking at the event
This information was released in a dialogue between the Binh Duong People’s Committee and foreign investors, held on July 30th.
Director of the provincial Department of Planning and Investment Nguyen Thanh Truc said that in 2017, Binh Duong absorbed more than USD2.8 billion of FDI capital, up 133% against last year and a two-fold increase from the year’s plan. In the first half of 2018, total FDI capital in the locality also posted USD853.5 million, 61% of the year’s plan.
Binh Duong considers FDI an import capital source and driving force for economic development and restructuring. In 2017, FDI contributed 48.5% to the total social investment and made up 82.8% of the province’s export turnover.
So far, Binh Duong has ranked third, after Ho Chi Minh city and Hanoi, in foreign investment attraction, with 3,397 projects in effect, capitalized with USD30.95 billion. Investors sending the most capital to the locality are mainly from the Republic of Korea, Japan, Singapore, Taiwan (China) and the US.
As a young and dynamic industrial province which pioneers the policy of laying out the red carpet for foreign investors, the investment climate increasingly improved towards sustainable development showed the attractiveness of Binh Duong to the business community over the 20 years./.
BTA
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