The southern industrial hub of Binh Duong has not only been among leading localities in foreign direct investment (FDI) attraction but also an attractive destination for domestic investors.
Binh Duong (VNA) – The southern industrial hub ofBinh Duong has not only been among leading localities in foreign directinvestment (FDI) attraction but also an attractive destination for domesticinvestors.
According to the provincial People’s Committee, so far, BinhDuong has lured more than 3,600 FDI projects worth nearly 34 billion USD,ranking third among localities nationwide in the field after Hanoi and HCMCity.
In the first seven months of this year, the province attractedover 1.1 billion USD of FDI, up 46 percent year on year.
Meanwhile, in July this year, the province saw theestablishment of 304 new firms with combined capital of 1.3 trillion VND (55.9million USD). In the month, 31 operating companies poured additional 623billion VND (27.2 million USD) into their business.
In the first seven months of 2019, 21.6 trillion VND (928.8million USD) was invested in 3,476 new enterprises, up 14.3 percent and 16.5percent respectively.
So far, Binh Duong has hosted more than 39,800domestically-funded projects worth nearly 334 trillion VND (14.36 billion USD).
Mai Hung Dung, Vice Chairman of the Binh Duong People’sCommittee, the growth speed of domestic firms in the province was at a high18.7 percent in 2018.
Each year, the province sees the formation of about 6,000new companies, he noted, adding that in late 2020, the province expects to host50,000 domestic businesses.
Meanwhile, Pham Van Xo, President of the Binh DuongImport-Export Association, said that the province has shown strong performancein supporting businesses. So far, policies of the province have become moreopen and smooth, ensuring favourable conditions for local firms to enhancetheir competitiveness, he said.-VNA
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Illustrative image (Source: VNA) 
