Why Binh Duong is a Magnet for FDI in Vietnam?

Vietnam’s Binh Duong province, part of the Southern Key Economic Region is fast emerging as a favorite for foreign investors.

The province, with its 30 industrial zones is second only to Ho Chi Minh City, in terms of FDI attraction.

With its renewed focus on high-tech industries, development of new industrial zones, and expected economic growth of 8-8.5 percent, the region will continue to be a priority for foreign investors.

In 2021, Binh Duong province observed a trade surplus of US$6.8 billion, with exports totaling US$31.5 billion and imports of US$24.6 billion. It contributed VND 61.2 trillion (US$2.6 billion) to the State budget, 4 percent higher than the yearly plan.

The 2022 GRDP per capita is expected to reach US$7,478, higher than VND 153.6 million (US$6,650) in the previous year. The province also targets the Industrial Production Index (IIP) to grow 8.9 percent and foreign…