Southern VN attracts major FDI

vietnamnews Update: June, 30/2017 – 09:00

The Việt Nam-Singapore Industrial Park (VSIP) I in the southern province of Bình Dương. — Photo vsip.com.vn

Viet Nam News HCM CITY — Besides HCM City, its next-door provinces Bình Dương and Đồng Nai have also attracted large amounts of foreign direct investment in the first half of this year.

According to a report from the Bình Dương People’s Committee, FDI in the first six months was worth around US$1.62 billion.

Its major foreign projects are the $284.75 million Việt Nam – Singapore Industrial Park III being developed by the Việt Nam-Singpore Industrial Park Joint Venture Co Ltd and a $220 million factory to manufacture airbags and industrial fabric for automobile tyres by Kolon Industries Inc of South Korea.

According to VSIP, its industrial parks in Bình Dương have attracted around $652 million in FDI this year, an increase of 60 per cent year-on-year and 80 per cent above its whole-year target.

Polytex Far Eastern Ltd, a Taiwanese polyester fibre and cotton manufacturer, has got approval to increase its registered capital by $485.8 million in the period, taking its total investment in the Bàu Bàng Industrial Park to $760 million.

Đồng Nai Province attracted $640 million in 37 new projects and 51 existing projects in the first half.

Powerknit Việt Nam Co Ltd is the largest new foreign project with $60 million coming from the British Virgin Islands.

Fabric producer Long Thái Tử of South Korea added $50 million to its ongoing project in the province.

Many industrial parks in Bình Dương and Đồng Nai have attracted large investments mainly from Asian countries and territories such as Singapore, South Korea, Japan and Taiwan thanks to their highly developed infrastructure and transportation network.

They have also signed several MOUs with regions in South Korea and Japan following investment promotion efforts over the last few years. — VNS

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This entry was posted in Economics - Kinh tế, Foreign Direct Investments - Đầu tư trực tiêp từ nước ngoài, Singapore, Taiwan and tagged , , , by Trần Đình Hoành. Bookmark the permalink.

About Trần Đình Hoành

I am an attorney in the Washington DC area, with a Doctor of Law in the US, attended the master program at the National School of Administration of Việt Nam, and graduated from Sài Gòn University Law School. I aso studied philosophy at the School of Letters in Sài Gòn. I have worked as an anti-trust attorney for Federal Trade Commission and a litigator for a fortune-100 telecom company in Washington DC. I have taught law courses for legal professionals in Việt Nam and still counsel VN government agencies on legal matters. I have founded and managed businesses for me and my family, both law and non-law. I have published many articles on national newspapers and radio stations in Việt Nam. In 1989 I was one of the founding members of US-VN Trade Council, working to re-establish US-VN relationship. Since the early 90's, I have established and managed VNFORUM and VNBIZ forum on VN-related matters; these forums are the subject of a PhD thesis by Dr. Caroline Valverde at UC-Berkeley and her book Transnationalizing Viet Nam. I translate poetry and my translation of "A Request at Đồng Lộc Cemetery" is now engraved on a stone memorial at Đồng Lộc National Shrine in VN. I study and teach the Bible and Buddhism. In 2009 I founded and still manage dotchuoinon.com on positive thinking and two other blogs on Buddhism. In 2015 a group of friends and I founded website CVD - Conversations on Vietnam Development (cvdvn.net). I study the art of leadership with many friends who are religious, business and government leaders from many countries. In October 2011 Phu Nu Publishing House in Hanoi published my book "Positive Thinking to Change Your Life", in Vietnamese (TƯ DUY TÍCH CỰC Thay Đổi Cuộc Sống). In December 2013 Phu Nu Publishing House published my book "10 Core Values for Success". I practice Jiu Jitsu and Tai Chi for health, and play guitar as a hobby, usually accompanying my wife Trần Lê Túy Phượng, aka singer Linh Phượng.

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