Binh Duong Province granted investment certifications to five FDI projects last Friday, reaching nearly $1 billion. — Photo baodautu.vn

Binh Duong Province approved nearly US$1 billion worth of new foreign investment last Friday.

Textile firm Polytex Far Eastern Viet Nam Co., Ltd., belonging to Taiwan’s Far Eastern Group, is investing $610 million to expand its polyester synthetic fibre manufacturing and spinning facility at the Bau Bang Industrial Park.

The conglomerate already has $1.37 billion worth of investment in Binh Duong.

Cheng Loong Binh Duong Paper Co., Ltd. is set to invest $100 million in its paper plant at the Protrade International Industrial Park, taking its total investment to around $1.1 billion.

Procter & Gamble Indochina Co., Ltd. will add $44.8 million to expand its razor blade factory at the Dong An Industrial Park.

Singapore-based New Motion Industrial Co. Ltd is set to invest $185 million to set up a display monitor manufacturing factory, warehouse and office at the Phu Tan Industrial Park.

Singapore’s Emergent VN Logistics Development Pre. Ltd will build the ECPVN Binh Duong 2 logistics centre at a cost of $34.4 million at the Tan Dong Hiep B Industrial Park.

Binh Duong ranks third in FDI this year after HCM City and Ha Noi as its efforts to improve administrative procedures and create a favourable investment climate pay off.

As of May 15 it had attracted $1.25 billion worth of FDI, a 59 per cent increase year-on-year. — VNS