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Southern province attracts investors despite tough times
The southern province of Binh Duong yesterday granted investment certificates to 17 projects worth a total of US$606 million.
The certificates have been given to both domestic and foreign firms, the provincial People's Committee said.
Five of the 17 projects are new, valued at $136 million, the others have been allowed to raise their capital by a total of $470 million, the committee said.
Projects that received investment certificates yesterday are mostly in retail and production sectors, it added.
The biggest project, invested in by the Sai Gon Stec Company Ltd to the tune of $340 million, will produce camera circuit boards.
It is followed by a $240 million project of Wonderful Sai Gon Electrics Company Ltd producing camera modules.
The third biggest project is the 62,000sq.m Binh Duong Canary shopping centre that the Aeon Viet Nam Company Ltd. will invest $95 million in.
"There are more and more domestic and international investors coming to Binh Duong now. Since the beginning of this year, their projects have played an important role in the province's socio-economic development," said Le Thanh Cung, chairman of the provincial People's Committee.
Cung said that in the first seven months of this year, the province has attracted 78 new projects and allowed 72 projects to increase their capital.
During the ceremony held to grant the investment certificates, provincial authorities said they were able to attract many investors during the current challenging times because they had improved infrastructure, invested in training human resources and providing better services.
"To attract more investment in the coming time, the province will continue to simplify administrative procedures and strengthen trade promotion activities," Cung said.
Last year, foreign and domestic investors invested $1.12 billion and $1.25 billion respectively in the southern province.
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