14 Aug, 2018

Vietnamese Southeast provinces continued to attract FDI

The southern provinces in Vietnam continued to attract many projects with large registered capital. In the first 11 months of 2017, Ho Chi Minh City was the leading city in Vietnam attracting FDI with US$ 5.68 billion, accounting for 17,2 percent of the total foreign investment. In particular, the manufacturing and processing industry made up 24,7 percent of the total investment which was equal to US$480 million, up 5,4 folds over the same period last year.

Binh Duong is one of the southern provinces with the highest FDI inflows in the country. According to the Department of Planning and Investment of Binh Duong province, in the first 11 months, the total foreign investment capital which was registered, newly licensed, adjusted and contributed capital to purchase shares of the province reached US$ 2.55 billion, up 125 percent over the same period in 2016. FDI contributed more than 49 percent of the total society investment capital, more than 67 percent of industrial production value and accounting for over 82 percent of the export turnover of Binh Duong province. Notably, most of the FDI capital in Binh Duong was invested in the processing and manufacturing sector.

In addition, some provinces in the South such as Dong Nai, Ba Ria-Vung Tau, Long An, Tay Ninh and Binh Phuoc have also made an outstanding progress in attracting FDI in recent months, promising a flourishing year. Dong Nai province has achieved the early goal of attracting FDI. Up until November 2017, it reached approximately US$ 1.18 billion, surpassed nearly US$ 180 million as compared with the planned figure.