Vietnam industrial province attracts $1.7 bln in pledged FDI in 2014

By Do Truong, Thanh Nien News

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Signage for the Vietnam-Singapore Industrial Park stands in Thuan An, Binh Duong Province. Photo credit: Bloomberg Signage for the Vietnam-Singapore Industrial Park stands in Thuan An, Binh Duong Province. Photo credit: Bloomberg

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Authorities in Vietnam's industrial hub Binh Duong Province on Wednesday licensed 29 foreign-invested projects worth US$204 million.
Sixteen new projects will take up $115 million of the registered capital. The rest of the investment will be used for the expansion of 13 existing projects.
The pledged FDI mainly comes from South Korea, Japan and Taiwan for projects belonging to mechanical, electronics, food and consumer goods sectors.
Le Thanh Cung, chairman of the provincial People’s Committee, said Binh Duong licensed 277 foreign-invested projects worth $1.65 billion in total this year.
The southern province ranked third in terms of FDI attraction in the country this year, after the northern province of Thai Nguyen and neighboring Ho Chi Minh City, Cung said.

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