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Saturday, February 4, 2023

New FDI approvals in Binh Duong put at over US$3 billion

The Saigon Times

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HCMC – The southern province of Binh Duong attracted US$3.13 billion in new foreign direct investments (FDI) in 2022, particularly in the processing and manufacturing industry, according to the provincial Planning and Investment Department.

Binh Duong approved some 70 new projects worth a total of US$1.9 billion of foreign investors last year. The total amount poured into 23 operational FDI projects in the province was roughly US$59.4 million.

Some US$1.1 billion came from mergers and acquisitions deals.

New foreign capital was injected primarily into the processing and manufacturing sector, with an investment of US$1.98 billion, or 63.3% of the total pledge.

The real estate sector came in second with 35.8% of total capital, followed by wholesale and retail, automobile repair and service, and logistics.

Danish toy maker LEGO’s US$1.3 billion project in Binh Duong was its sixth in the world and its second in Asia.

In terms of FDI projects, the province came in second in the country, just behind HCMC, with total pledged capital of US$39.7 billion, or 9% of the nation’s total.

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