Ho Chi Minh Times

Saturday, May 04, 2024

Binh Duong Province Sets Sights on Attracting Billions in Foreign Investment

Despite Economic Challenges, Binh Duong Aims for Ambitious FDI Targets
Binh Duong Province in southern Vietnam is gearing up to attract significant foreign direct investment (FDI) this year, aiming to draw between US$1.2 billion and US$1.3 billion. Despite economic hurdles faced in 2023, the province showcased remarkable resilience, with business activities in its industrial parks exceeding key performance indicators by over 70%. In the first quarter of 2024 alone, the province has already secured US$177 million in FDI, marking a substantial 385% increase compared to the same period last year. With 33 industrial parks covering a total area of 14,790 hectares, Binh Duong is poised for further industrial expansion, planning to establish new industrial parks focused on mechanical engineering and wood industries. By the end of 2030, the province aims to roll out eight additional industrial parks, fostering synchronized industrial development across its districts.
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