Binh Duong sees $21.5b in foreign direct investment
Binh Duong sees $21.5b in foreign direct investment
Binh Duong received nearly 2,550 foreign direct investment projects between 2010 and 2015, bringing the total registered capital to US$21.5 billion, the provincial People's Committee's Chairman Tran Van Nam said.
He said foreign direct investment (FDI) capital in the southern province was estimated to exceed $1 billion this year.
The provincial Department of Investment and Planning said the FDI projects had an average capital of less than $10 million each, and the largest among them was a $1.2-billion real estate Binh Duong New City project, invested by Japan's Tokyu Corporation.
About 12,370 firms received business licences between 2010 and 2015, raising the total number of local companies to nearly 19,640, a two-fold increase from the beginning of the decade.
The total registered capital increased to more than VND146 trillion ($6.7 billion), 2.2 times higher.
During the period, the total investment in the province reached VND263 trillion ($12.06 billion), eight per cent of which was contributed by the state budget, while 43.1 per cent came from FDI.
The industry will continue to be the locality's key economic driver to boost urban, services and trade development in the next five years.
The province's exports are also expected to expand at an average rate of 19.5 per cent annually. Its foreign trade revenue is forecast to exceed $20 billion this year, with $16 billion worth of imports and $4 billion of exports.
