FDI flow to Binh Duong triples in Q1

March 21, 2022 | 21:04

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The southern province of Binh Duong attracted about 1.6 billion USD worth of foreign direct investment (FDI) in the first quarter of 2022, 3.6 times higher than that in the same period last year, informed Chairman of the provincial People’s Committee Vo Van Minh on March 21.

A corner of the first Vietnam-Singapore Industrial Park (VSIP1) in Thuan An city, Binh Duong province. (Photo: Chi Tuong/VNA)

Binh Duong – The southern province of Binh Duong attracted about 1.6 billion USD worth of foreign direct investment (FDI) in the first quarter of 2022, 3.6 times higher than that in the same period last year, informed Chairman of the provincial People’s Committee Vo Van Minh on March 21.

Binh Duong also lured 36 trillion VND (1.57 billion USD) of domestic capital, an annual increase on 16.9 percent.

During the period, a total of 22 investment licences were granted to enterprises to operate at local industrial parks.

Notably among the investors, the toy manufacturer LEGO Group decided to pour more than 1 billion USD on the building of its 44ha factory at the Vietnam - Singapore Industrial Park III in Binh Duong, making it the largest Danish-invested project in Vietnam to date. The plant is hoped to generate 4,000 jobs in the next 15 years.

According to Minh, the provincial authorities are committed to creating best conditions possible for the operation of domestic and foreign firms.

The province has 29 concentrated industrial parks covering nearly 13,000 ha of land, with their average occupancy rate exceeding 83.4 percent. So far, Binh Duong has recorded 4,033 valid FDI projects worth over 37.7 billion USD.

VNA

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