Chairman Tran Van Nam (right) talks with investors. — VNS Photo Le Thu Ngan.

HCM CITY (Biz Hub) — The southern province of Binh Duong attracted foreign direct investment worth US$402 million in the first quarter, its People's Committee announced on April 10.

Around $255 million is set to be invested in 55 new projects with the rest going into 30 existing ones.

On Friday provincial authorities issued investment certificates for 28 projects worth $304 million.

Binh Duong ranks second in attracting FDI this year behind only HCM City.

The investors are mainly from mainland China - five projects - and South Korea and Hong Kong with four each.

People's Committee Chairman Tran Van Nam said, "To ensure Binh Duong remains an attractive, stable and friendly investment destination, the province will continue to implement measures to improve and better facilitate investment."

He said the measures included mobilising resources to develop infrastructure, especially roads, water supply, and sewerage.

The province's focus was on projects and services that use modern technologies and produce products with high value addition, he said.

"[We will] speed up administrative reform in all aspects and complete and effectively operate a ‘one-stop service' mechanism … to better serve entrepreneurs and citizens."

Cumulatively, the province has attracted FDI worth nearly $21 billion in 2,440 projects. — VNS