Binh Duong surpasses Hanoi in attracting FDI

Binh Duong surpassed Hanoi to rise to second place in the country in attracting foreign capital, with 42.39 billion USD, while Ho Chi Minh City is still the leader in attracting FDI.

According to the Ministry of Planning and Investment's foreign direct investment (FDI) attraction data, by the end of November, Hanoi had attracted nearly 42.2 billion USD, ranking third in the country as a "destination" for foreign investors. However, compared to October, the capital's position dropped one place.

Instead, Binh Duong surpassed Hanoi, in second place with 42.39 billion USD.

Currently, Binh Duong has nearly 4,400 FDI projects in 29 industrial parks and industrial clusters. The land lease rate in the province's industrial parks is over 93%. To attract foreign capital, the province has proposed many solutions to improve the investment environment. Accordingly, they committed to simplifying administrative procedures, investing heavily in infrastructure, human resources and developing high-quality services to meet the needs of businesses.

Ho Chi Minh City still leads the country with 58.45 billion USD, an increase of 127 million USD compared to the previous month.

Another change in the leading group of FDI attraction is that Bac Ninh surpassed Hai Phong, in sixth place with 30.77 billion USD. New or expanded projects in the field of electronic components manufacturing, such as Amkor Technology increasing capital by 1.07 billion USD, Goertek and Foxconn pouring in 280 million USD and more than 383 million USD respectively... show the attraction of Bac Ninh to foreign giants.

In the first 11 months of this year alone, this province was the largest FDI "magnet" in the country with 5.04 billion USD, 3 times higher than the same period.

Other localities in the top 10 are Dong Nai with 37.2 billion USD, Ba Ria - Vung Tau (36.49 billion USD), Quang Ninh (15.65 billion USD), Thanh Hoa and Long An with 15.54 billion USD and 14.22 billion USD, respectively.

In the first 11 months, the country had 41,720 valid projects with a total registered capital of nearly 497 billion USD. Realized capital is estimated at nearly 319 billion USD.

South Korea is the largest partner with 89.11 billion USD, accounting for 17.9% of total capital. It is followed by Singapore with 82.3 billion USD, Japan with 77.64 billion USD and Taiwan (China) with 40.87 billion USD.

Capital invested in the processing and manufacturing industry decreased by nearly 9% compared to the same period last year, but is still the leading industry attracting foreign investors, over 20 billion USD.

Real estate added more than 5.6 billion USD, up 89% over the same period. This shows that the real estate market is recovering, attracting interest from FDI enterprises.

Source