FDI capital inflows into Binh Duong triple in Q1

VGP - The southern province of Binh Duong attracted US$1.6 billion in foreign direct investment (FDI) in the first quarter of 2022, an increase of 3.6 times compared to the same period last year, announced Chairman of the municipal People's Committee Vo Van Minh.

March 22, 2022 11:31 AM GMT+7

Notably among the investors is the LEGO Group's US$1 billion project. It is planned to be the company's first carbon neutral factory in the world. Construction is set to begin in the second half of 2022 and production is due to start during 2024.

Meanwhile, the third Viet Nam-Singapore Industrial Park (VSIP) in the locality began construction last week.

Covering area of 1,000 hectares in Bac Tan Uyen district, the latest VSIP has total investment capital of more than VND6,400 billion (or US$280 million).

In addition, the southern industrial hub lured VND36,000 billion (more than US$1.5 billion) in investment capital from domestic investors during the three months, up 16.9 percent.

The province is now home to 4,033 FDI valid projects with the total investment capital worth more than US$37.7 billion.

Binh Duong has 29 industrial parks covering the areas of nearly 13,000 hectares with the occupancy rate exceeding 83.4 percent.