(VOVworld) – Last year the southern province of Binh Duong led the country in foreign direct investment attraction despite unfavorable economic conditions and general FDI decline in Vietnam. According to foreign investors, Binh Duong remained an attractive investment destination thanks to its good infrastructure, improved administrative procedures, and favorable geographical location.

A laboratory equipped with modern machine in Eastern International University in Binh Duong. (Photo: http://baobinhduong.org.vn)

Located in the southern economic hub that includes Ho Chi Minh City and Dong Nai, Binh Duong has always been a leader in FDI attraction. Last year it attracted 2.53 billion USD. This is an encouraging result in a context of unfavorable economic conditions and FDI decline in many other localities in Vietnam. Binh Duong’s success is due to great efforts to exploit favorable geographical location, improve its administrative procedures, and increase promotion activities. With synchronously investment infrastructure, the province has attracted projects in heavy industry, services, and urban development. Japan is currently Binh Duong’s largest foreign investor with 167 projects with total registered capital of 3.1 billion dollars. Nguyen Van Toan, Vice President of the Foreign Investors’ Association, says ‘Foreign investors in Vietnam who pour money into constructing factories, workshops, and production facilities have always been interested in the local investment environment, administration, and the work force. If these factors are satisfactory, they’ll encourage others to come to Vietnam to do business. Binh Duong’s experience in investment attraction helps the province lure even more.’

In recent years, Binh Duong has built 28 industrial zones covering an area of 9,000 ha that have helped FDI enterprises maintain investment efficiency. Under the development direction until 2020, Binh Duong will become a central municipality, so urban development has been hastened along with the development of industrial zones. A new Binh Duong city project of 1,000 ha was begun two years ago, which includes a political and administrative center, banks, and a residential area offering accommodations for 125,000 immigrants. The province is developing transport projects that link with other cities and provinces. The highlight is the My Phuoc – Tan Van highway with an investment capital of 168 million USD. Nguyen Van Hung, Director General of the Becamex Asphalt and Concrete Company, says the province has paid special attention to improving the quality of the workforce and attached services. He adds ‘the province and our corporation have invested in infrastructure creating new conditions for combining industrial development with investment in vocational training and universities to meet investors’ human resources requirements.’

High-tech and environment-friendly investment projects are contributing to FDI attraction sustainability in Binh Duong.