The southern province of Binh Duong attracted US$3.14 billion in foreign direct investment last year, second most just after HCM City. — tuoitre.vn
BINH DUONG (Vietnam News/Asia News Network): Bình Duong Province as of the end of 2022 has attracted more than 4,082 foreign direct investment (FDI) projects with nearly US$40 billion of registered funds, ranking it among the top two provinces in the country in FDI attraction, just after HCM City.
HCM City and Bình Duong were the leading localities in FDI attraction in 2022 with US$3.94 billion and $3.14 billion, respectively.
According to the Ministry of Planning and Investment's (MPI) Foreign Investment Agency, the south-east region will continue to be the major FDI magnet of the country in 2023. This year, the country may lure about $36-38 billion in FDI.
Binh Duong has estimated its gross regional domestic product (GRDP) growth rate at 8.01 per cent and GRDP per capital at VNĐ170 million ($7,100), according to the provincial People’s Committee.
Binh Duong's total import and export turnover hit nearly $61.5 billion, of which, exports reached $35.7 billion, up 9 per cent year-on-year, resulting in a trade surplus of $10 billion. Total social investment capital reached over VNĐ154.5 trillion, up 12.9 per cent year-on-year.
Denmark was the biggest investor of Binh Duong with $1.32 billion, followed by the Netherlands with $609 million, and China at $258 million.
Preben Enef, general director of LEGO Vietnam Technology Co Ltd (Denmark), which is investing $1.3 billion in a toy factory in Binh Duong, appreciated the support from leaders of the province as well as ministries for the construction of the project.
The locality’s post-pandemic recovery and development efforts have also gained applause from the Republic of Korea Chamber of Commerce (KOCHAM) office in Binh Duong and the European Chamber of Commerce (EUROCHAM) in Việt Nam.
In recent years, Binh Duong has spent large amount of money to improve road infrastructure to enhance transport connectivity with HCM City and nearby provinces, develop concentrated industrial zones and attract workers from provinces and cities around the country.
Early this year, Secretary of the Binh Duong Party's Committee Nguyen Van Loi directed departments and relevant units to speed up the construction and upgrade progress of National Highway 13 from six lanes to eight lanes to improve the connectivity of the province and HCM City.
National Highway 13 not only plays the role of the "backbone" traffic axis of the province's transport system, but is also an arterial route connecting HCM City to Bình Phước and the Central Highlands provinces.
The province also plans to expand and upgrade the My Phuoc-Tan Van expressway and provincial highways No. 743, 747B and 746, which will improve transport to Dong Nai Province and HCM City.
The upgrade of My Phuoc-Tan Van expressway is one of the key projects because it connects urban areas and industrial parks, and opens up a freight corridor along the North - South backbone axis parallel to National Highway 13.
