Binh Duong province of Vietnam has attracted more than 4,082 foreign direct investment (FDI) projects with nearly US$40 billion of registered funds by the end of 2022.
Denmark was the biggest investor of Bình Dương with $1.32 billion, followed by the Netherlands with $609 million, and China at $258 million, reported Vietnam News.
One of the significant investments was the construction of the Danish toy factory, LEGO in Binh Duong which received great support from all Vietnamese departments, noted Preben Enef, general director of LEGO Vietnam Technology Co. Ltd.
According to the Ministry of Planning and Investment’s (MPI) Foreign Investment Agency, Vietnam may attract about $36-38 billion in FDI in 2023.
Vietnam Plus reported that in February 2023 so far, local authorities already granted licenses for 153 new FDI projects worth 1.2 billion USD.
Despite the increasing inflation and economic recession, more new business opportunities seem possible to occur in Vietnam this year.
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Very Interesting.
Interesting numbers for Binh Duong. I visited the province a few years ago and could already see the industrial growth happening there. The fact they’ve crossed 4,000 projects and $40 billion is impressive, especially given how quickly the region has developed. What strikes me is the focus on manufacturing and export-oriented industries – it’s clearly become a major hub for companies looking to set up production in Vietnam. I’m curious whether they’ll be able to maintain this growth pace given the increasing competition from other provinces and rising operational costs. The infrastructure improvements around Binh Duong have definitely helped attract investors, but sustainability might be the real challenge going forward.