The southern province of Binh Duong attracted about US$1.6 billion worth of foreign direct investment (FDI) in the first quarter of 2022, 3.6 times higher than that in the same period last year.

Binh Duong also lured VND36 trillion ($1.57 billion) of domestic capital, an annual increase of 16.9 per cent.

During the period, a total of 22 investment licences were granted to enterprises to operate at local industrial parks.

Notably among the investors, the toy manufacturer LEGO Group decided to pour more than $1 billion into building its 44ha factory at the Vietnam-Singapore Industrial Park III in Binh Duong, making it the largest Danish-invested project in Viet Nam to date. The plant is hoped to generate 4,000 jobs in the next 15 years.

According to chairman of the provincial People’s Committee Vo Van Minh, the provincial authorities are committed to creating the best conditions possible for the operation of domestic and foreign firms.

The province has 29 concentrated industrial parks covering nearly 13,000 ha of land, with their average occupancy rate exceeding 83.4 per cent. So far, Binh Duong has recorded 4,033 valid FDI projects worth over $37.7 billion. — VNS