Binh Duong draws strong domestic investment inflows

Inside the Nutifood Binh Duong plant at the province's My Phuoc I industrial park. (Photo: VNA)

Binh Duong (VNA) – The southern province of Binh Duong, known as an attractive destination for foreign direct investment (FDI), has witnessed a surge in domestic investment inflows recently.

Chairman of the provincial People's Committee Vo Van Minh said domestic investment surpassed FDI in 2022 and the first seven months of 2022. It forms an important economic component contributing to the province's sustainable development, he noted.

Between January and July this year, Binh Duong attracted 52.47 trillion VND (2.21 billion USD) worth of domestic investment, representing an annual increase of 16.5%.

So far, the province has recorded a total of 62,848 domestic enterprises with combined registered capital of 683 trillion VND (28.78 billion USD).

Also in the first seven months, the province's value of industrial production regained momentum, increasing by 3% from the same period last year.

Total retail sales of goods and services, meanwhile, reached 174.82 trillion VND, up 12.4% year-on-year. Notably, Binh Duong’s export turnover rebounded in July with a rise of 17.6% compared to the previous month, raising the province's export earnings in the first seven months to 17.8 billion USD./.

VNA