Binh Duong records $1.7 billion trade surplus in Q1
Binh Duong records $1.7 billion trade surplus in Q1
The southern province of Binh Duong has recorded a trade surplus of US$1.7 billion in the first quarter of 2017, thanks to businesses using locally-sourced raw materials for production.
During the first three months of the year, the province earned $6.36 billion from exports, mostly of wooden products, textiles and garments and footwear; while its imports came to $4.66 billion, a provincial People’s Committee report said.
The province also saw a breakthrough in attracting foreign direct investment (FDI). As of mid-March, it had lured more than $1.34 billion in FDI. Of the total, $793 million is from 43 newly licenced projects; the rest is from 18 projects that got additional capital.
To date, the province has attracted 2,890 foreign-invested projects worth around $27.1 billion, data revealed.
Between January and March, the province’s Index of Industrial Production rose by 7.3 per cent compared to the same period last year. Its total revenue from retail trade and services reached around VND39.6 trillion ($1.74 billion) in the first quarter, up 19.7 per cent year-on-year.
During this three-month period, the province approved the setting up of 966 new enterprises with a total investment capital of VND5.39 trillion, while allowing 166 operating ones to raise their capitals by a total of VND3.73 trillion.
The committee said it would continue to improve the province’s investment and business climate and would hold dialogues with representatives of associations and enterprises to resolve the problems that businesses face.
