Binh Duong’s domestic investment surpasses FDI for first time

At a factory in Binh Duong (Photo: VNA)

Domestic investment in the southern province of Binh Duong topped 62.3 trillion VND (3 billion USD) as of August 15, up 2.1% annually, surpassing the foreign direct investment (over 2.5 billion USD) for the first time, reported the provincial People’s Committee at a press conference on August 30.

Deputy Director of the provincial Department of Industry and Trade Nguyen Thanh Ha said so far this year, the province’s total retail sale of goods and services topped 177.8 trillion VND, marking an 18.7% rise year-on-year.

Its exports also hiked 7.8% annually to over 24 billion USD while imports dropped by 5.1% to 17 billion USD, contributing to a trade surplus of 7 billion USD.

At a regular meeting of the local authorities, Chairman of the provincial People’s Committee Vo Van Minh said the implementation of local socio-economic targets are meeting schedule. He asked departments and agencies to closely follow market situation and goods prices, ensuring supply-demand balance in service of production and consumption.

They were also urged to clear up difficulties faced by businesses and workers, especially those in the sectors of wooden furniture, apparel, leather and footwear.

Minh requested removing obstacles in assessing the estimate of procurement bidding packages, upholding the efficiency of pooling investment in important transport infrastructure, contributing to making the best use of domestic investment capital, particularly public investment./.

VNA