Binh Duong attracts more than 3 billion USD in FDI this year

Binh Duong has attracted over 3 billion USD in FDI so far this year. (Photo: VNA)

The southern province of Binh Duong has so far this year attracted over 3 billion USD in foreign direct investment (FDI), taking the lead in the Southeast region, according to Nguyen Tam Duong, chief of the Office of the provincial People’s Committee.

Binh Duong has estimated its gross regional domestic product (GRDP) growth at 8.01% and GRDP per capital at 170 million VND (7,100 USD), he said at a press conference on the local socio-economic situation in 2022.

The locality's index of industrial production is expected to expand 8.9% while its total retail sales of goods and services increased by 16.8%.

Its budget revenue is estimated at 61.9 trillion VND, equal to 103% of the estimate and budget expenditure is forecast to reach 18.5 trillion VND.

Binh Duong's total import and export turnover hit nearly 61.5 billion USD, of which, export reached 35.7 billion USD, up 9% year-on-year, resulting in a trade surplus of 10 billion USD. Total social investment capital reached over 154.5 trillion VND, up 12.9% year-on-year.

This year, the province has fulfilled 29 out of 34 socio-economic development targets.

Despite facing many unpredictable challenges, Binh Duong's socio-economy has recovered and achieved many positive results in all fields. Cultural and social activities quickly recovered and prospered in line with safe, flexible and effective adaptation to the COVID-19 pandemic.

However, the province still has to cope with a lot of difficulties such as adverse developments of the world's economic and political situation which cause global inflation to rise, an economic slowdown and a decline in consumer demand in most countries. These challenges are likely to last until the first quarter of next year.

The official said in the coming time, Binh Duong will continue to effectively control the COVID-19 pandemic, infectious and newly-emerged diseases; promote economic restructuring towards increasing the proportion of the service sector; concentrate all resources on infrastructure, urban-service development as a premise for sustainable development of the province towards a smart, civilised and modern city./.