Binh Duong FDI beats forecast, tops $1.65b
Binh Duong FDI beats forecast, tops $1.65b
The southern province of Binh Duong on December 17 said it has attracted foreign direct investment of over US$1.65 billion this year, 65 per cent higher than targeted in the beginning.
It ranks third among provinces and cities in attracting FDI this year after Thai Nguyen and HCM City, Le Thanh Cung, chairman of its People's Committee, said.
The achievement has been greatly appreciated since the province had to face many difficulties in 2014, especially the riots in May, local authorities said.
Thanks to the province's efforts and the Government's support, production resumed in the third quarter and Binh Duong retained its attraction for investors.
On December 17 the provincial authorities issued investment certificates for 30 projects, only one of them domestic, with a total investment of $226 million.
Sixteen of the projects are new while the rest are existing ones that plan to enlarge their investment.
The strong FDI flows have made Binh Duong one of just five provinces and cities to have attracted total foreign investment of over $20 billion.
Speaking to Viet Nam News, Cung said the province would continue to upgrade infrastructure – including widening of National Highway No.13 that runs to HCM City –and streamline administration procedures.
He estimated the province would attract FDI of over $1.5 billion next year.
