FDI projects increase 100 percent in Binh Phuoc province

The number of newly licensed foreign direct investment (FDI) projects posted a year on year increase of 100 percent and capital hiked nearly 50 percent in the first half this year in the southern province of Binh Phuoc.

Cashew processing in Binh Phuoc province

Cashew processing in Binh Phuoc province

That was announced at a meeting of the provincial People’s Council yesterday.
According to the announcement, the province now has 163 FDI projects with the total funds of $1.4 billion.
The province attracted 85 projects in the first six months. Of these, there are 77 projects worth VND5 trillion ($220 million) of domestic companies in garment and textile, breeding and rubber planting. The number of projects was double while capital was quintuple compared to the same period in 2016.
FDI projects worth $32 million have been invested by businesses from Japan, New Zealand and Taiwan (China) in fields such as hi-tech, cashew processing, wood export and construction industry.

By XUAN TRUNG – Translated by Hai Mien

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