Business
Taiwanese firms invest US$30 billion in Vietnam
Taiwan (China) becomes Vietnam’s fourth largest investor with 2,500 projects worth more than US$30 billion of registered capital, Nguyen Thanh Truc, Director of the Binh Duong province’s Department of Planning and Investment, said.
He said that Taiwan is also the top investor in the Binh Duong province with 772 projects totaling $5.8 billion of registered capital.
The province’s FDI attraction in the eleven months of this year has been positive, Truc reported, adding that the total registered capital of FDI projects to the province surged 127 percent year-on-year to $2.51 billion. The result is 79 percent higher than the target for the entire 2017.
He said that 90 percent of the FDI projects are located at the province’s industrial zones (IZ). Binh Duong is home to 29 IZs covering 12,800 hectares. The number of IZs has been planned to increase to 34 by 2020.
To attract investment in hi-tech industries and take advantage of the fourth industrial revolution, the province has planned to issue a range of policies and incentives
Tran Thanh Liem, chairman of the provincial People’s Committee, said that the improvement will be taken in administrative procedures, and land and facility construction.
To create a better investment climate, the province’s leaders and authorities will also regularly meet with investors and businesses to help them resolve problems.
“Improving the infrastructure system and creating an open dialogue with foreign investors are the keys to attracting investment,” he said.
Binh Duong has made great strides in improving its water and power supply, road network, waste treatment facilities, and in providing available land for new projects.
Major transport routes, including Binh Duong Boulevard and My Phuoc-Tan Van Highway, connect local IZs with seaports and airports in the southern region.
Binh Duong Province is the country’s second-highest FDI recipient, following Ho Chi Minh City.
Today, the province is giving priority to FDI projects with high technology and large-scale urban and service development projects.
Binh Duong is now home to a total of nearly 3,000 FDI projects from 60 countries and territories, worth more than $27.7 billion.
Vu Ngoc Khiem, chief representative of Global Sources, a Hong-Kong based B2B media, said many FDI firms, especially those from Taiwan, had been expanding and shifting their production to Vietnam, especially Binh Duong, which is home to manufacturers of garments, textiles, furniture, shoes and hardware.
The province’s FDI attraction in the eleven months of this year has been positive, Truc reported, adding that the total registered capital of FDI projects to the province surged 127 percent year-on-year to $2.51 billion. The result is 79 percent higher than the target for the entire 2017.
He said that 90 percent of the FDI projects are located at the province’s industrial zones (IZ). Binh Duong is home to 29 IZs covering 12,800 hectares. The number of IZs has been planned to increase to 34 by 2020.
Taiwan is also the top investor in the Binh Duong province with 772 projects worth $5.8 billion.
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Tran Thanh Liem, chairman of the provincial People’s Committee, said that the improvement will be taken in administrative procedures, and land and facility construction.
To create a better investment climate, the province’s leaders and authorities will also regularly meet with investors and businesses to help them resolve problems.
“Improving the infrastructure system and creating an open dialogue with foreign investors are the keys to attracting investment,” he said.
Binh Duong has made great strides in improving its water and power supply, road network, waste treatment facilities, and in providing available land for new projects.
Major transport routes, including Binh Duong Boulevard and My Phuoc-Tan Van Highway, connect local IZs with seaports and airports in the southern region.
Binh Duong Province is the country’s second-highest FDI recipient, following Ho Chi Minh City.
Today, the province is giving priority to FDI projects with high technology and large-scale urban and service development projects.
Binh Duong is now home to a total of nearly 3,000 FDI projects from 60 countries and territories, worth more than $27.7 billion.
Vu Ngoc Khiem, chief representative of Global Sources, a Hong-Kong based B2B media, said many FDI firms, especially those from Taiwan, had been expanding and shifting their production to Vietnam, especially Binh Duong, which is home to manufacturers of garments, textiles, furniture, shoes and hardware.
