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Southeastern region leads in foreign attraction

The southeastern region remains the most attractive destination for foreign direct investment (FDI) in Vietnam.
Southeastern region leads in foreign attraction ảnh 1Illustrative image (Source: VNA)
Hanoi (VNA) – The southeastern region remains the most attractivedestination for foreign direct investment (FDI) in Vietnam.

According tothe Foreign Investment Agency under the Ministry of Planning and Investment, theregion had three out of the five localities nationwide drawing the most foreigninvestment in 2016.

Ho Chi MinhCity led with 836 newly-licensed projects, 222 existing ones with capitaladjustment, and 1,935 others with foreign investors’ stakes.

Totalnewly-registered and increased capital was estimated at 3.42 billion USD in2016, accounting for 14 percent of the country’s total foreign investment.

As a dynamictrade centre, HCM City lured FDI in various fields including real estate,wholesales, information and communication, food and beverage services.

Themunicipal statistics office said HCM City has 6,000 projects with totalregistered capital of 40.6 billion USD.

Meanwhile,Binh Duong and Dong Nai came fourth and fifth with respective totalnewly-registered and increased capital of 2.36 billion USD and 2.23 billionUSD.

Othersoutheastern localities such as Long An, Binh Phuoc, and Binh Thuan were alsoattractive to foreign investors.

During itsdevelopment, the southeastern region has proven strong in manufacturing.

Compared toother cities and provinces nationwide, southeastern localities boast advantagesin geography, climate and transport infrastructure, which aid the developmentof manufacturing models and services.

The southernprovince of Dong Nai is one example. According to the provincial Department ofPlanning and Investment, at the end of 2016, Dong Nai attracted 1,664projects worth 30.3 billion USD.

It has 1,253valid projects capitalised at 25.7 billion USD.

The localityis prioritising projects using high technology and skilled workers as well asthe support industry and environmentally-friendly projects.

Meanwhile,Binh Duong counts 2,827 projects with total capital of 25.7 billion USD, makingup 13 percent and 8.5 percent of the country’s total foreign projects andcapital respectively.

The provinceis home to 28 industrial parks and 10 industrial clusters, the Vietnam –Singapore Industrial, My Phuoc, and Dong An parks.-VNA
VNA
#southeastern region #FDI

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