Binh Duong – The southern province of Binh Duong attracted about 1.7 billion USD of foreign direct investment (FDI) in the first 10 months of this year, exceeding the goal set for the whole year by 19 percent.

Acccording Chairman of the provincial People’s Committee Nguyen Hoang Thao, the locality is still working hard to remove difficulties caused by the COVID-19 pandemic, towards completing its socio-economic target in 2020.

Binh Duong’s industrial production index (IPI) is expected to increase 8.5 percent, and its total retail sales of goods and service to surge 15 percent in 2020.

Meanwhile, the added value of the service sector is forecast to increase 7.3 percent, and the export and import turnovers to increase by 5 percent and 10.9 percent, respectively.

The locality’s GDP growth is estimated at 6.78 percent and its per capita GRDP and the State budget revenue to reach 151.5 million VND (about 6,542 USD) and over 59.6 trillion VND in 2020.

The local authorities have paid special attention to improving the investment environment and changing investment attraction methods in order to make the most of the current wave of capital and technology shifting in the region and the world, towards creating a premise for the locality’s economic breakthrough in 2021.

The development of transport, logistics, and industrial park infrastructure has been also promoted, aiming to meeting the demand of investors.