Localities attract foreign direct investment

Many localities including the Southern Province of Binh Duong, the Central Highlands Province of Kon Tum, and the Central Province of Thua Thien – Hue succeeded in attracting a big sum of foreign direct investment.

Mr. Vo Van Minh, Chairman of Binh Duong Provincial People's Committee, yesterday said that as of August 15, the province had attracted nearly US$2.6 billion in foreign direct investment (FDI).

Accordingly, authorities in Binh Duong Province granted new investment certificates to 48 projects, with the total investment capital increasing by 72 percent over the same period in 2021, ranking second in the country in terms of FDI attraction just after Ho Chi Minh City. Notably, businesses with advantages in capital, technology, less labor and land, such as Lego Group and Pandora Group (Denmark) have poured capital heavily into industrial parks in the province.

Up to now, the province has 4,063 FDI projects from 65 countries and territories with a total registered capital of $39.5 billion. Binh Duong Province is speeding up the construction of VSIP 3 Industrial Park to welcome a new wave of investment. The provincial authority will give priority to businesses operating in environmentally friendly fields, using renewable energy.

On the same day, at the regular press conference, Mr. Nguyen Thanh Binh, Vice Chairman of the People's Committee of Thua Thien - Hue Province, said that from the beginning of 2022 until now, the locality has licensed 23 projects with total investment capital of VND 12,183.4 billion including four FDI projects with registered capital equivalent to VND5,286.71 billion. At the same time, the province has granted adjustments for 14 projects. Amongst 14 projects, four projects have capital appreciation.

From the beginning of the year until now, the People's Committee of Kon Tum Province has approved the investment policy of 19 projects with a total registered capital of nearly VND 1,655 billion. In which, August alone, three projects registered a capital of VND296 billion.

Out of 19 investment projects in the province since the beginning of the year, investors of 10 projects decided to pour a total registered capital of VND172 billion in industrial parks and economic zones while investors of other nine projects outside industrial parks and economic zones registered a capital of VND1,483 billion.

In related news of business, the Department of Industry and Trade in the Mekong Delta Province of Ca Mau has just said that Ca Mau's export turnover from the beginning of 2022 to now has grown impressively, reaching over $960 million, equal to 83 percent of the plan, up 40 percent over the same period.

Accordingly, seafood export reached nearly US$800 million while fertilizer export reached $163 million. Furthermore, the Department revealed that export turnover to several markets in the US, EU, Australia, and Canada also increased sharply. The Department of Industry and Trade promised to give support to businesses in the negotiation of contracts. The province will take advantage of opportunities from signed free trade agreements to promote exports, especially for shrimp.