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FDI channeled into Binh Duong quadruples

by NDO/VNA04 May 2022 Last updated at 15:00 PM

Illustrative photo (Photo: VNA)
Illustrative photo (Photo: VNA)

VTV.vn - Foreign direct investment (FDI) flowing into the southern province of Binh Duong neared 1.8 billion USD in the first four months of this year, four times higher than in 2021.

Local industrial parks attracted more than 9.2 trillion VND (400.55 million USD) in domestic investment, an annual increase of more than five times.

To date, Binh Duong's industrial parks are home to 3,014 valid projects. Of the total, there are 2,340 FDI projects worth nearly 28 billion USD, channeled mainly in the production sector.

Among the investors, Nitto Denko Vietnam Co., Ltd., which specialises in manufacturing electronic components, has increased its capital by 99 million USD to produce and process integrated circuit products this year.

Meanwhile, Accasette Garment Company Limited in Song Than 3 industrial park raised its capital by 14 million USD to promote production and export of fashion and sports clothing.

According to Nguyen Thanh Nhan, Deputy Head of the Binh Duong Industrial Zones Authority, the results showed that after the COVID-19 pandemic, business and production activities have returned to normal, creating favorable conditions for domestic and foreign enterprises to confidently pour capital into goods production and exports.

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