BINH DUONG GRANTS APPROVAL FOR EIGHT PROJECTS WORTH $1.8 BILLION

Binh Duong People's Committee granted investment approvals to eight projects on September 26, with the total investment of more than $1.8 billion.

Four projects were granted investment registration certificates, including a $120 million project of D.mag Vietnam Precision Technology to manufactures aluminium and steel, a second factory operated by Paihong Vietnam invested with additional capital of $400 million to manufacture fabric, the 51.5 million Sembcorp Binh Duong Infrastructure Services project to set up a warehouse and factory for lease, and a $38 million project to manufacture bicycle accessories for Tektro Technology Vietnam Company.

In addition, leaders of Binh Duong province also granted investment approvals for four other projects, including the $451 million Bac An Tay Urban Area, the $550 million Dong An Tay Urban Area, a $141 million high-end apartment complex combined with commercial services, and the $57 million ICD Rach Bap inland port.

Also at the conference, Becamex IDC Corporation and COEX Group signed a cooperation agreement to promote industrial trade and investment in Binh Duong.

In addition, Becamex IDC Corporation and the Korea Office of Smart Manufacturing signed a cooperation agreement to hold international exchanges, coordination, and the promotion of smart manufacturing, Industry 4.0, official development assistance projects

With an open and attractive investment environment, Binh Duong is one of the leading provinces and cities in the country for attracting investment.

In the first nine months of 2024, the province attracted more than $1.2 billion in foreign investment. The province ranks third in the country for foreign direct investment, with more than 4,300 projects with total investment of more than $41 billion, accounting for 8.5 per cent of the total investment in the country.

Source: VIR