Binh Duong: FDI in five months exceeds yearly target
Southern Binh Duong province has lured nearly 1.5 billion USD in FDI in the first five months of 2017, 6.5 percent higher than the province’s target of 1.4 billion USD for the entire year, according to the provincial People’s Committee.
Binh Duong(VNA) – Southern Binh Duong province has lured nearly 1.5 billion USD in FDI inthe first five months of 2017, 6.5 percent higher than the province’s target of1.4 billion USD for the entire year, according to the provincial People’sCommittee.
The province herebycame second, after Ho Chi Minh City, in FDI attraction. It is now home to morethan 2,890 FDI enterprises with a total investment of 27.1 billion USD.
Binh Duong has beenworking to draw more FDI between 2016 and 2020 in an attempt to makebreakthroughs in the fields of industry, services, and hi-tech agriculture,said Chairman of the provincial People’s Committee Tran Thanh Liem.
Liem noted that theprovince is inviting foreign investment in high-quality services, industrialsupport services, and high-value and environmentally-friendly industries.
In addition, thelocality also plans to attract over 7 billion USD in FDI and about 110,000billion VND from domestic investors, he added.
To fulfill the goals,the provincial People’s Committee will continue improving policies forinvestment attraction and better undertake measures to support enterprises andhelp them resolve difficulties.
It will put moreeffort into raising quality of human resources, enhancing public administrativereforms and improving effectiveness of state management.
The province’sindustrial production index in May rose by 7 percent from the previous monthand by 15.21 percent from the same period last year.
The index for thefirst five months of the year grew 8.21 percent year on year with manufacturingand processing up 8.18 percent and electricity production and distribution up13.48 percent.
Local CPI during theperiod gained 3.62 percent year on year.-VNA
Binh Duong province has set a target of attracting at least 1.4 billion USD in FDI in 2017, prioritising projects with high technology and large-scale ones on urban and service development.
Foreign investors have poured a large amount of investment into textile and infrastructure in the southern province of Binh Duong since the beginning of this year.
Export turnover of southern Binh Duong province reached 6.36 billion USD in the first quarter of 2017, a year-on-year rise of 16.1 percent, according to the provincial Department of Industry and Trade.
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Illustrative image. (Photo: VNA) 
