Key southern economic region remains attractive to foreign investors

The key southern economic region remains an attractive destination for foreign investors with a series of foreign-invested projects licensed in the past two months of this year.

A foreign-invested firm in Giang Dien Industrial Zone, Dong Nai Province. The province lured US$439 million worth of foreign investment into its industrial zones in the two months, fulfilling nearly 63 per cent of the target set for the year. — VNA/VNS Photo Thanh Dat

Among localities in the region, Dong Nai Province recorded the most impressive results in foreign investment attraction.

The province lured US$439 million worth of foreign investment into its industrial zones in the two months, fulfilling nearly 63 per cent of the target set for the year, head of Dong Nai Industrial Zones Authority (Diza) Nguyen Tri Phuong told baodautu.vn.

Phuong said it was likely that by the end of March, Diza would complete the investment attraction goal for 2024.

He added that his locality would focus on attracting large-scale projects, using advanced technology and skilled workers instead of projects that use a lot of unskilled workers and outdated technology affecting the environment, to ensure compliance with the province's investment attraction orientation.

HCM City, Bình Dương and Ba Ria-Vung Tau were also among the top provinces and cities in the region in terms of foreign investment attraction in the reviewed period.

HCM City ranked eighth among the 10 leading localities with $195 million worth of foreign investment. In terms of the number of new projects, however, the city ranked first with 144 projects, accounting for 35.6 per cent of the total.

Besides these mentioned localities, Binh Phuoc was also emerging as a new investment destination for foreign businesses. It lured over $8.64 million in foreign investment in the two months. The latest addition brought the foreign investment registered in the locality total up to nearly $4.3 billion.

According to Binh Phuoc People’s Committee, the province will host a business forum to showcase its potential and investment initiatives, especially in high-tech agriculture, on March 12.

The upcoming event will be the largest international investment connection forum in the agricultural sector ever organised in Binh Phuoc. It will bring business executives and investors in high-tech agriculture together with local authorities and help promote sustainable agricultural development.

Tran Tue Hien, chairman of the provincial People's Committee, said the forum would be an opportunity for Binh Phuoc to promote its strengths and incentive policies for both domestic and international investors.

"The forum also serves as a chance for Binh Phuoc to invite reputable domestic and foreign businesses and investors with financial strength and technology to invest in high-tech agriculture and share information with the business community," she said.

Baodautu.vn cited Gabor Fluit, chairman of EuroCham, as saying that European businesses attending the event specialised in sectors including agriculture, high technology, construction, tourism, finance and banking, and renewable energy.

This showed that European businesses were directing investment capital into high-tech industries that many southern localities wanted to attract investment in," he said.

​The key southern economic region comprises of HCM City, Binh Phuoc, Tay Ninh, Binh Duong, Dong Nai, Ba Ria-Vung Tau, Long An and Tien Giang provinces.

(Source:VNS)