Vietnam's Southern Province Licenses 26 FDI Projects Early This Year
Southern Binh Duong province of Vietnam early this year licensed 26 foreign direct investment (FDI) projects worth US$481.7 million, the Vietnam News Agency reported.
The province has allowed 10 existing projects to raise their capital by US$13 million so far this year.
Binh Duong attracted US$2.15 billion FDI in 2007, being listed in the US$1 billion FDI club of six local cities and provinces besides Ho Chi Minh, Dong Nai province, Hanoi, Phu Yen and Ba Ria-Vung Tau.
It has set a goal to pull in over US$1 billion FDI this year.
Separately, South Korea’s DongWha Company has recently worked with the provincial authorities on a US$180-million wood processing factory in Bau Bang IP in Ben Cat district.
Meanwhile, Huyck Wangner Vietnam, an affiliate of the U.S.-based Xerium Technologies Group kicked off construction of a US$40-million filter screen plant in My Phuoc 1 IP in Ben Cat district.
The province is now home to 1,650 FDI projects, capitalized at US$9.4 billion with 874 projects valued at US$5.3 billion located in industrial parks (IP).
To draw foreign investors’ attention, the province has accelerated the technical infrastructure construction of 19 local IPs and land zoning for projects. (VNS)
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