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To attract high-quality FDI capital, Binh Duong organizes many trade promotion events, creating conditions for business cooperation and development in the photo: Foreign Direct Investment (FDI) enterprises showcasing modern technology at the VIMF 2024 Exhibition in Binh Duong (Photo: Ngoc Thanh). |
Investors trust
According to the Department of Planning and Investment, in the first 6 months of 2024, Binh Duong attracted more than $824.6 million. Among them are 96 new projects with a total investment capital of over $464.6 million; 66 projects adjusted to increase capital by more than $264.8 million; 62 projects registered for capital contribution and share purchase with a total capital contribution value of $95.1 million.
Industrial zones (IZs) in the province attracted 74 new investment projects, 46 projects adjusted to increase capital, and 33 projects registered to contribute capital and purchase shares with a total registered investment capital of $684.6 million U.S dollars, accounting for 93% of the total FDI capital in the province. Outside IZs, there were 22 new investment projects, 16 projects adjusted to increase capital, and 29 projects registered to contribute capital and purchase shares with a total registered investment capital of $61.2 million U.S. dollars, accounting for 17% of the total FDI capital in the province. Processing and manufacturing industries continue to be areas of great interest to foreign investors with 71 newly registered investment projects, 54 projects adjusted to increase capital, 41 projects registered to contribute capital, purchase shares with a total investment capital of $779.5 million U.S dollars, accounting for 94.54% of the total registered investment capital.
Binh Duong continues to attract foreign investors strongly with a convenient location, spacious land, and favorable mechanisms and policies. Besides new projects, in the first 6 months of 2024, many investors are investing in new, more modern machinery lines, expanding production workshops, and businesses to increase productivity. The world's largest jewelry company, Pandora (Denmark), recently started constructing the Pandora Production Vietnam factory at VSIP 3 Industrial Park. This is Pandora's third production base and the first Pandora factory built outside Thailand, with a total investment capital of over 150 million US dollars (about 3,800 billion Vietnamese dong).
Mr. Michael Zinck Jensen, Head of the Project Department of Pandora Production Holding company in Binh Duong, said the project is being implemented according to the set plan. On behalf of the Pandora Corporation's leadership, he thanked the provincial government of Binh Duong for creating favorable conditions for Pandora to implement the project. The corporation commits to putting the factory into operation according to the schedule to create jobs for thousands of workers in the province.
Enhancing the quality of new capital flows
Mr. Trinh Hoang Tuan Anh, Deputy Director of the Department of Planning and Investment, said that along with innovation, modernization of management, creating favorable conditions for investment activities of domestic and foreign enterprises, departments, sectors, local authorities timely resolve difficulties, creating a transparent, open environment, attracting attention from potential investors.
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Manufacturing and business activities at Bonfiglioli Co., Ltd (My Phuoc 1 Industrial Park). |
In the first 6 months of 2024, there are more than 20 countries and territories with investors in Binh Duong, of which investors from Singapore lead with nearly 309 million USD, accounting for 37.5% of the total registered capital; Samoa ranked second with US$162.4 million, accounting for 19.7% of the total registered capital; China ranked third with US$99.6 million, accounting for 12.1% of the total registered capital; followed by Hong Kong (China), Canada, South Korea.
According to the Department of Planning and Investment, FDI still greatly contributes to the province's economic development. In the first 6 months of 2024, although the newly registered capital tends to slow down, the additional investment capital and capital contribution to buy shares of foreign investors in Binh Duong still increased steadily, especially since there are many large-scale projects, in line with the province's investment attraction orientation. Over the past time, in addition to preparing the infrastructure well, Binh Duong has also actively improved the business investment environment, building and promoting its image in front of international partners and investors.
To continue to be a destination for foreign investors, Binh Duong strives to implement transport infrastructure projects connecting the region, planning industrial zones and clusters, redesign development spaces, attract high-quality FDI, and promote digital transformation, green economy, and circular economy in line with sustainable development goals. Mr. Mai Hung Dung, a Standing Member of the Provincial Party Committee and standing Vice Chairman of the Provincial People's Committee, said that for Binh Duong, in economic development, FDI enterprises are always a source of external resources with a special role and position. Therefore, Binh Duong creates the most favorable conditions for FDI enterprises to operate effectively.
To create a bigger change in the business environment, improve competitiveness, and contribute to the successful implementation of the goals and tasks of the socio-economic development plan in 2024, many solutions to attract quality FDI inflows are being promoted by Binh Duong in the coming time. In particular, the province continues to promote administrative reform, build infrastructure, train high-quality human resources, and create an attractive business environment for investors.
In the first 6 months of 2024, the total foreign investment capital newly registered, adjusted, and contributed capital to buy shares throughout the province reached more than 824.6 million US dollars. Binh Duong is currently ranked third in the country (after Ho Chi Minh City). Ho Chi Minh City and Hanoi) On attracting foreign investment capital with 4,322 valid projects with a total registered investment capital of more than 41 billion US dollars, accounting for more than 10.6% of the total number of projects and 8.5% of the total foreign investment capital of the country.
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