Moreover, the province leaders did not try to attract foreign investment by all means.
Thanks to policy reforms and continuous efforts to reduce red tape and improve public services and the environment to do business, it is one of top destinations for FDI. Just in first six months, foreign investors poured $853.5 million into the province accounting for 61 percent of the plan.
So far, the province has had 3,397 projects with total investment of $30.95 billion.
To obtain remarkable achievement today, the province has spent thousand billion Vietnam dong on building types of infrastructure including traffic infrastructure connecting the province with other places.
The province is now considered as the metropolis of the country’s industrial parks as it develops good infrastructure in the field; at present, twenty-nine industrial parks are located in the area of nearly 12,800 hectare in the province. It is scheduled that by 2020, it will develop five additional industrial parks.
To satisfy human personnel for industrial parks, the province has built eight universities, eight colleges, 13 vocational colleges, and 46 other vocational facilities to meet enterprises’ recruitment demand.
Furthermore, many of universities and colleges have formed an alliance with foreign partners such as German, Russian and other European countries to provide training as per international standard.
Success in appealing foreign investment helps change the province’s social economy for years with an increase in Gross Regional Domestic Product in first six months of 7 percent compared to the same period.
Notwithstanding, Binh Duong leaders have not appealed foreign investment by all means but take heeds to environment. In two recent years, foreign and domestic green technology investors found to be detrimental to the state’s environment have been barred from investing in the province.
Also, factories make negative impacts on the environment will be fined thousand billion or forced to shut down if they have not adopted measures to reduce pollution.
At a meeting between province leaders and enterprises held lately, Party Chief Tran Van Nam frankly said $853.5 million foreign investment in first six months is lower than the same period of years before because the province leaders carefully selected investors.
The province is encouraging investors to build schools especially preschool for immigrant laborers.
The province limited issuance of business certificates to enterprises with backward technology in the field of garment and textile but welcome hi-tech investors who take care of workers’ benefit.
A new industrial park in Phu Giao District is ready to receive investors who adopt advanced technologies. This is the orientation of the province’s smart city construction.