Vietnam's industrial hub Binh Duong province okays 23 projects

Binh Duong province, a manufacturing hub in southern Vietnam, on Thursday granted investment registration certificates and in-principle approvals to 23 projects, with total registered capital exceeding $1.7 billion.

Specifically, investment registration certificates were awarded to three projects. They are a VND253 billion ($9.94 million) warehouse project by Vista Investment and Trading Company Limited in Song Thanh III Industrial Park; a VND170 billion ($6.68 million) project by Farina Food Company Limited in VSIP III Industrial Park to make pre-mixed dough, butter, cheese and cake fillings; and a VND150 billion ($5.9 million) project by Toan Phat Packaging Printing Company Limited in VSIP III to produce wrinkled paper, cardboard and packaging materials.

In-principle approvals were granted to 20 other projects, including residential area projects of QP Township JSC, Bac Binh Duong Real Estate JSC and Vinh Phu National Housing Organization Company, with registered capital of VND3,800 billion ($149.4 million), VND3,700 billion and VND3,400 billion, respectively.

Another is the Rach Bap Industrial Park expansion project by An Dien Industrial JSC on an area of 360 hectares, with total investment of over VND1,000 billion ($39.3 million).

Binh Duong attracted nearly $2 billion in registerd foreign direct investment (FDI) capital and over VND85,665 billion ($3.36 billion) in domestic investment capital in 2024.

As of December 31, 2024, the southern province had 4,400 FDI projects totaling $42.5 billion in registered capital. This made Binh Duong rank the second in terms of FDI attraction, following Ho Chi Minh City.

The province was also home to 74,000 domestic enterprises with a combined registered capital of VND812,000 billion ($31.91 billion).