Binh Duong sets US$1 bn FDI target for 2014

(VOV) -The southern province of Binh Duong has acknowledged ongoing economic difficulties and set a modest US$1 billion foreign direct investment (FDI) target for 2014.

It will continue infrastructure upgrades in its industrial parks (IPs) and preference projects according with provincial development ambitions.

Binh Duong encourages industrial energy-saving technologies, increasing the localisation rate, promoting product quality and competitiveness, limiting labour intensity, and reducing environmental impact

The locality has allocated 300 hectares in Bau Bang Industrial Zone to textile and support industry projects. It is heavily investing in support industries to anticipate a high influx of foreign investment as soon as theTrans-Pacific Partnership (TPP) agreement is signed.

Twenty-six of the province’s 28 IPs are operational, covering 9,073 hectares, while its eight industrial clusters cover an additional ​​600 hectares.

IP rental rates reached 65%, and industrial clusters’ 41%. Ten IPs enjoy 95%-100% rental rates, including VSIP 1, VSIP 2, My Phuoc, Song Than, Binh Duong, Viet Huong, and Dong An.

The province’s IPs invested nearly VND390 billion in infrastructure and leased nearly 90 hectares of land to new projects in 2013, creating jobs for 12,700 labourers.

Binh Duong has so far attracted 2,209 projects capitalised at a total of US$8,720 billion.

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