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Factors that helped Binh Phuoc suddenly enter the TOP 10 in terms of FDI attraction

In the first 6 months of the year, Binh Phuoc province has attracted 16 FDI projects with a capital of 632 million USD, increasing more than 12 times in capital compared to the same period in 2022 and reaching 200% of the whole year plan in 2023. It is known that at present, Binh Phuoc has planned 13 industrial parks with a total area of ​​more than 6,000 hectares, and 12/13 industrial parks have been put into operation.

Notably, in May 2023, the People's Committee of Binh Phuoc province licensed a project with an investment of 500 million USD. This project operates in the business of producing semi-steel radial tires and all-steel radial tires for cars and other vehicles.

This is the first time Binh Phuoc has attracted a large-scale investment project with a registered capital of 500 million USD. This has helped Binh Phuoc reach the top 10 localities attracting the largest FDI in the country in the first 6 months of 2023.

According to the People's Committee of Binh Phuoc province, up to now, the province has attracted 378 FDI projects with a total capital of more than 4 billion USD. Investment projects in industrial parks in Binh Phuoc mainly focus on manufacturing and manufacturing electronic components, supporting industrial products, clothing, textiles, footwear, and wood industries.

To anticipate the trend of industrial development in the coming time, the People's Committee of Binh Phuoc Province has also issued the "Project on Development of industrial parks, economic zones and industrial clusters in Binh Phuoc Province in the 2021-2025 period, orientation towards 2030”. The implementation of the project will help Binh Phuoc better prepare conditions and resources to receive foreign investment.

(Lao Dong)


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