Binh Duong attracts US$365 million in FDI

(VOV) -The Binh Duong provincial People’s Committee has thus far licensed 27 projects for Foreign Direct Investment (FDI) and domestic businesses during March.

Committee Chairman Le Thanh Cung said the province has welcomed 40 new FDI projects and those with additionally increased capital since the beginning of 2013, representing a total capitalization of US$365 million.

They include the US$99.6 million invested in Binh Hoa-Binh Duong Vietnam Singapore Industrial Park (VSIP) by Singaporean and Chinese interests.

Binh Duong now has 2,156 FDI projects with total capital exceeding US$17.8 billion.

The positive result is mainly due to the locality’s various programmes improving access to and communication with investors via consulates-general, trade offices, and foreign business associations, helping the province address their issues and campaign for more investment.

Binh Duong has asked relevant agencies to improve administrative processes and taxes and customs procedures, cultivate a supportive investment environment, upgrade transport infrastructure..

It is also focused on raising the quality of human resources and offering better services to investment and production activities.

Binh Duong’s more than US$2.8 billion in FDI capital in 2012 topped provinces and cities across the country. The amount was 2.6 times higher than its initial target.