Binh Duong second in FDI attraction at $2.7 bln
Binh Duong attracted $2.7 billion of registered foreign direct investment in the year to September 20, up 58% year-on-year, ranking second in Vietnam after Ho Chi Minh City.
The province, an industrial hub in southern Vietnam, registered 54 new FDI projects and 14 FDI projects with additional capital. Major projects are a $1.3 billion factory by Danish toymaker Lego and $100 million facility by jewelry maker Pandora.
HCMC led the pack with $2.96 billion, up 26.2% year-on-year, accounting for 15.8% of the country's total registered FDI. Binh Duong made up 14.4%, followed by the northern province of Bac Ninh with 9.5% at $1.78 billion.
Toymaker Lego and builder Coteccons signed an agreement on building a Lego factory in Binh Duong province, southern Vietnam, August 23, 2022. Photo courtesy of Coteccons.
Binh Duong recorded a gross regional domestic product (GRDP) growth of 7.91% in the first nine months of the year, versus 1.48% in the same period last year, according to the provincial People’s Committee. The figure is estimated at 8-8.3% for whole year.
The province’s index of industrial production (IIP) increased 8.7% in January-September, versus 2.9% in the same period last year as it staged a remarkable post-pandemic recovery. Industrial parks in the province lured $1.83 billion of FDI in the period, 71% of the province’s total.
Total registered FDI capital in Vietnam, which includes newly registered capital, additional capital of operational projects, and capital contributions for stake acquisitions, reached $18.7 billion in the first nine months, down 15.3% year-on-year.
- Related News
- Read More
Vietnam, Russia sign cooperation agreements in diverse sectors
Vietnam’s Party General Secretary To Lam and Russian President Vladimir Putin witnessed the exchange of cooperation documents between the two countries following their Moscow summit meeting on May 10.
Politics - Sun, May 11, 2025 | 10:28 pm GMT+7
Russian heavyweights seek opportunities in Vietnam's energy, high-tech fields
Prominent Russian companies Zarubezhneft, AFK Sistema, and Positive Technologies are seeking investment opportunities in energy and high technology in Vietnam.
Industries - Sun, May 11, 2025 | 10:16 pm GMT+7
Vietnam's leading tour operator Vietravel before capital hike: Revenue grows, profit shrinks
Ho Chi Minh City-based Vietravel has seen strong revenue growth over the past three years on the tourism industry's post-pandemic recovery, but its profit has continued to decline, with a profit margin of only around 0.5%.
Companies - Sun, May 11, 2025 | 1:34 pm GMT+7
Central Vietnam province Binh Dinh to select solar, wind power investors via tender
Vietnam’s central coastal province of Binh Dinh has allocated land plots for 22 projects, including eight for solar, wind, and geothermal power development, that will seek investors via tender.
Energy - Sun, May 11, 2025 | 11:39 am GMT+7
Vietnam's Party chief holds talks with Russian President Putin, agreeing on major orientations for bilateral ties
Vietnam's Party chief To Lam held talks with Russian President Vladimir Putin at the Kremlin Palace in Moscow on Saturday (local time), within the framework of his official visit to Russia.
Politics - Sun, May 11, 2025 | 8:20 am GMT+7
Policy support for private enterprises poised to drive Vietnam’s stock market
Amid global uncertainties and complex geopolitical shifts, financial experts believe that Vietnam’s new Resolution 68 on private sector development, signed by the Politburo on May 4, could become a significant catalyst for the domestic stock market.
Economy - Sun, May 11, 2025 | 8:00 am GMT+7
Malaysia develops data centers to become technology nation
The data center sector can be a catalyst for Malaysia to become a technology nation, said Deputy Minister of Investment, Trade and Industry Liew Chin Tong.
Southeast Asia - Sat, May 10, 2025 | 11:03 pm GMT+7
Vietnam's V-GREEN signs $300 mln MoU with partners for EV charging ports in Indonesia
V-GREEN, the global electric vehicle (EV) charging station arm of Vietnamese conglomerate Vingroup, on Friday announced the signing of an MoU with four strategic partners to deploy 63,000 VinFast EV charging ports across Indonesia by the end of 2025.
Southeast Asia - Sat, May 10, 2025 | 11:00 pm GMT+7
Northern Vietnam province Bac Ninh records two-fold rise in 4-month registered FDI
Bac Ninh province attracted more than $1.91 billion in registered FDI capital during the first four months of the year, marking a 2.2-fold year-on-year increase, according to provincial official data.
Southeast Asia - Sat, May 10, 2025 | 10:55 pm GMT+7
Vietnam's Dai Hung - Phase 3 project produces first commercial oil flow
The phase 3 of the Dai Hung field development project (Dai Hung - Phase 3) offshore Vietnam has officially begun production of its first oil flow with 6,000 barrels per day, 20 days ahead of the adjusted schedule, according to state-owned Petrovietnam.
Southeast Asia - Sat, May 10, 2025 | 4:34 pm GMT+7
Vietnam's Party chief attends inauguration of Hanoi-Moscow direct flight
Party chief To Lam and a high-ranking Vietnamese delegation attended the launching ceremony of Vietnam Airlines’ Hanoi-Moscow air route on May 9 (local time), as part of his trip to Russia for an official visit and participation in the celebration marking the 80th anniversary of Victory in the Great Patriotic War.
Travel - Sat, May 10, 2025 | 4:29 pm GMT+7
Where does Vietnam's agricultural major Hoang Anh Gia Lai stand in pig farming industry's boom?
Hoang Anh Gia Lai JSC missed out on the Vietnamese pig farming industry’s growth surge from 2024 through Q1 of this year, after halting pig production during a period of low prices.
Companies - Sat, May 10, 2025 | 4:24 pm GMT+7
Indonesia to allow private companies to build EV charging stations
The Indonesian government is revising the rules to allow third parties to set up electric vehicle (EV) charging stations in Indonesia, said Minister of Investment and Downstreaming and head of the Investment Coordinating Board (BKPM) Rosan Roeslani.
Southeast Asia - Sat, May 10, 2025 | 4:01 pm GMT+7
Philippines aims to become $2,000-billion economy by 2050
The Philippines is maintaining strong economic growth and is on track to become a $2,000-billion economy by 2050, said Secretary of the country's Department of Economy, Planning and Development Arsenio Balisacan.
Southeast Asia - Sat, May 10, 2025 | 3:53 pm GMT+7
Vingroup chairman Vietnam's first person to have $9 bln in assets: Forbes
Vingroup’s founder and chairman Pham Nhat Vuong has become the first Vietnamese person to have a fortune of $9 billion, according to Forbes's update on Thursday, May 8.
Companies - Sat, May 10, 2025 | 1:09 pm GMT+7
Vietnam guarantees 65% power offtake for imported LNG-to-power projects over 10 years
Vietnam will guarantee an offtake of at least 65% of annual electricity output from projects using imported liquefied natural gas (LNG) power for up to 10 years, under a newly-issued government decree.
Energy - Sat, May 10, 2025 | 10:27 am GMT+7
