Since 2020, Binh Duong has been among the leading localities in foreign direct investment (FDI) attraction, with US$9.56 billion, surpassing the target set for the 2020-2025 period, and emerging as a “bright spot” of the region in economic recovery post Covid-19.
Up to 65 countries and territories have registered to invest in the province with nearly 4,200 valid projects worth more than $40.2 billion, including 75 percent from Asia. Another bright spot is Ba Ria-Vung Tau province, which has lured 20 FDI projects so far this year valued at over $751 million , up five projects and more than US$481 million from the same period last year.
The projects come from major groups of the Republic of Korea (RoK), Australia, Japan, Norway and Thailand.
As of the end of October, Dong Nai lured nearly $1 billion in FDI, exceeding its target by $300 million, mainly in component manufacturing, mechanics, food and energy, with no projects causing environmental pollution or labour intensive.
To attract quality FDI, Binh Duong has rolled out harmonious solutions in transport infrastructure, logistics and personnel, while focusing on smart city building, with attention paid to attracting investments to science-technology parks on the basis of the fourth Industrial Revolution.
Notably, local leaders and businesses have travelled abroad to call for investments from such potential markets as the US, Canada and Australia, said Permanent Vice Chairman of the provincial People’s Committee Mai Hung Dung.
Ba Ria-Vung Tau has also worked to reform administrative procedures, and invested in the transport sector.
Chairman of the provincial People’s Committee Nguyen Van Tho said Ba Ria - Vung Tau has supported enterprises facing financial difficulties, promising that the locality will create optimal conditions for investors to launch projects in the province.
